Bitcoin, Ethereum, XRP Rally as US Clarity Bill Final Draft Released

Bitcoin (BTC), XRP, and Ethereum (ETH) all rebounded following the release of a revised draft of the U.S. Senate's market structure bill, the Clarity Act, by Republican lawmakers. The Senate Republicans unveiled a 635-page updated version on Tuesday, incorporating significant changes reflecting Democratic demands, with over 80% of proposed ethics provisions and more than 90% of requested adjustments reportedly included.

The revised bill includes provisions supported by the White House alongside numerous changes Democrats had sought. Senate Republican aides described it as 'the final and best offer' regarding Clarity Act negotiations, emphasizing that the draft reflects over 120 Democratic requests. The legislation now heads to a procedural vote on Thursday, with passage still uncertain but market sentiment improving.

Bitcoin rose above $77,700, XRP rebounded from recent declines, and Ethereum returned to the $2,500 level. Market analysts suggest this price movement coincides with expectations that negotiations over the bill have reached a critical juncture after months of deliberation. Polymarket data shows the probability of the Clarity Act passing in 2024 has risen above 30%, as investors begin to factor in potential regulatory clarity.