OKX's Rafique doubts Clarity Act will pass, warns optimism is already priced into bitcoin

OKX executive Haider Rafique said he doubts the U.S. Clarity Act will pass this year, citing weak Democratic incentive to deliver Republicans a crypto-policy win before the midterms. He warned that much of the market’s optimism about regulatory clarity is already embedded in bitcoin’s price, implying limited upside if the bill passes but meaningful downside if it fails. Rafique estimated a successful vote might lift bitcoin only 3%-4%, while a failure could push it toward $55,000 before buyers step in. The article also notes OKX’s planned expansion with Intercontinental Exchange, including tokenized equities, futures and other onchain traditional-finance products, which supports longer-term crypto infrastructure development but does not offset the near-term policy risk highlighted for bitcoin.