Bitcoin (CRYPTO: BTC) may need more than regulatory clarity to regain momentum, according to investment advisor Tyrone Ross Jr.—the disconnect between bearish market sentiment and accelerating institutional adoption has never been wider.
Clarity Act Won't Be A Cure-All Speaking on June 28 on the Schwab Network, Ross said Bitcoin's recent weakness reflects a combination of macro and industry-specific pressures.
Elevated interest rates, capital rotating into artificial intelligence and uncertainty surrounding the CLARITY Act keeps BTC range-bound.
He added that after falling around 40% from its highs, Bitcoin is still undergoing price discovery as investors determine where it fits in the current market environment.
Ross said the industry would welcome joint guidance from the SEC and CFTC defining which digital assets are securities and which are commodities.
