Bitcoin (CRYPTO: BTC) rallied to $66,000 on Tuesday on Clarity Act optimism, but Bitwise Capital partner Jeff Park warned the market is getting ahead of itself with no Democratic support in place.
Why Park Is Not Convinced The Clarity Act Is Close
Jeff Park told The Wolf Of All Streets podcast that the news flow around the Clarity Act is coming entirely from the Republican side, which he said is the part of the story markets are missing.
“The White House has crafted an ethics proposal that they’re comfortable with, which to me is still very doubtful that it says Donald Trump can’t make money in crypto,” Park said.
Until language clears the Democratic side, he argued, passage odds remain low regardless of how the price reacts.
