Bitcoin Holds Near $79K as CLARITY Act Clears Committee but Faces 60-Vote Senate Hurdle

Bitcoin trades near $79,000 after pulling back from an intraday high near $83,000 following the Senate Banking Committee's 15-9 approval of the CLARITY Act on May 14. The bill, stalled since January over stablecoin yield rules, advanced after a Tillis-Alsobrooks compromise banning interest-like rewards while allowing activity-based incentives. Markets initially rallied with Bitcoin briefly topping $82,000 and crypto stocks surging, but profit-taking and $290 million in ETF outflows tempered gains. Polymarket now prices a 68% chance of 2026 enactment, though the measure still requires full Senate passage, House reconciliation, and presidential signature. Santiment flagged a 1.55:1 bullish-to-bearish social sentiment ratio, warning that euphoria could precede a reversal.