Bitcoin (BTC) bulls made another attempt to reclaim the $80,000 level on Thursday, as traders expect price swings before and after the CLARITY Act vote.

Key takeaways:

The CLARITY Act, a proposed US bill that would set clearer rules for how regulators oversee the crypto market and stablecoins, is scheduled for a Senate Banking Committee markup vote on Thursday.

Source: Cointelegraph

Prediction market traders say that there is a 67% chance that the CLARITY Act will be signed into law in 2026, according to Polymarket.

Odds of the CLARITY Act being signed into law in 2026. Source: Polymarket

Traders on rival site Kalshi price-in the odds of the Act becoming law before August and Dec. 31, 2026, at 62% and 67%, respectively.

If the CLARITY Act passes, it could clearly classify Bitcoin as a digital commodity under the Commodity Futures Trading Commission (CFTC) oversight, reducing legal uncertainty for the industry and further legitimizing crypto in the US.

Related: Bitcoin to $100K in Q2? Strategy’s STRC unlocks potential to buy 3K BTC in two days

Bitcoin is expected to react positively, similar to the GENIUS Act signed in July 2025, which provided the first major US stablecoin framework. Bitcoin was already trading near all-time highs and climbed further amid regulatory optimism.

MN Capital founder Michaël van de Poppe was bullish, saying:

Analyst Sharky predicts a muted immediate pump, with the real strong move coming “90 days later, when institutional money finally has legal clarity.”

Not all analysts were optimistic about the event, however, with trading resource Material Indicators saying the passing of the CLARITY Act is “somewhat baked-in to $BTC price,” adding:

As Cointelegraph reported, some traders expect a quick move in Bitcoin price toward $90,000 following the CLARITY Act vote, supported by improving market conditions and easing selling pressure.

Bitcoin may have delivered an impressive bounce to $82,000 last week, but the bullish sentiment was dampened by resistance from the 200-day moving averages around this level.

The support at $78,000 remains key for bulls, representing the short-term holder realized price and the true market mean.

This coincides with the 21-week exponential moving average (green line), as highlighted by analyst Rekt Capital in the chart below, saying:

BTC/USD weekly chart. Source: X/Rekt Capital

Bitcoin’s realized price by age cohorts reveals another major level of support sitting further down: the cost basis of the 1-week-to-1-month investor cohort at $76,900.

“The momentum of the ongoing rally has been driven largely by a wave of accumulation over the past 30 days,” Glassnode said in its latest Week Onchain newsletter, adding:

Bitcoin realized price by age. Source: Glassnode

On the upside, the cost basis of investors who accumulated BTC during the November 2025-February consolidation period at $86,900 represents the “most probable near-term resistance zone as these holders approach breakeven and face a growing incentive to distribute into strength,” the onchain data provider added.

Crypto trader and analyst Daan Crypto Trades said a break above $82,000 will see BTC rise to fill the CME gap at $84,000, eventually “continuing quite a lot higher” from that point.

BTC/USD daily chart. Source: X/Daan Crypto Trades

As Cointelegraph reported, key support levels for the bulls were the 20-day EMA at $79,000 and the 50-day SMA at $74,000, while bears were expected to defend $84,000.

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Extracted and lightly reformatted for readability. · Source: pt