Bitcoin traded near $67,000 on Thursday as price action stabilized, but the prediction market Polymarket delivered a whipsaw: approval odds for the CLARITY Act surged to 90% intraday only to collapse to roughly 55% at press time, underscoring deep uncertainty around the bill's fate.
CLARITY Act: Defining the SEC-CFTC Divide
The CLARITY Act is a proposed U.S. market structure bill that aims to draw clear jurisdictional lines between the SEC and the CFTC over digital assets. It covers token classification, exchange registration, and compliance standards. If passed, the legislation could reduce regulatory ambiguity, encourage institutional participation, and boost long-term capital flows into crypto.
However, the sharp reversal on Polymarket reflects growing skepticism about the bill's legislative path. Differences between the House and Senate versions, lobbying pushback, and a crowded year-end agenda all complicate its progress.
Bitcoin Technicals: Consolidation Zone Between $65K and $70K
On the daily chart, Bitcoin remains in a short-term downtrend after a sharp selloff from the $95,000 region earlier this year. The sequence of lower highs and lower lows ended when price stabilized around the $65,000 zone. A large red candlestick near $72,000 marked a capitulation move, briefly dipping into the low $60,000s before bouncing. Since then, BTC has been trading in a $65,000–$70,000 range.
The Awesome Oscillator (AO) remains negative but is printing rising green bars, indicating waning bearish momentum. Meanwhile, the Balance of Power (BOP) has turned positive at 0.66, suggesting buyers are attempting to regain short-term control.
Immediate resistance sits at $70,000, followed by a stronger ceiling near $75,000, where a prior breakdown occurred. On the downside, key support lies at $65,000, with a deeper floor at $60,000 if selling resumes.
For now, Bitcoin appears to be consolidating. A decisive break above $70,000 could open the door for recovery, while failure to hold $65,000 may invite renewed downside pressure.