URGENT CRYPTO NEWS! CLARITY ACT WON'T BE SIGNED INTO LAW THIS WEEK! NEW SENATE & HOUSE TIMELINE!

**Tony Edward** (0:04)
Hey folks, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward. On your way in, please hit that subscribe button, as well as the thumbs up button, and leave a comment below. If you're listening on a podcast platform, such as Spotify or Apple, please be sure to follow and leave a five-star rating. Okay, folks, it's the Clarity Act countdown. We literally have only five days left. So starting tomorrow, Monday, August 3rd, we need to get this bill out of the White House because currently President Trump and the White House are reviewing the updated bipartisan ethics language. Will they agree to it? I'm not sure. So let's see if the White House approves it, and then it has to go back to the Senate, and they have to go through the different layers of voting. It's not that the bill is going to go straight to the floor for the final vote. There are a bunch of different hurdles it has to clear first. So where does that put us? This bill is not going to become law by the end of next week. It's going to have to be later this year, because even if it clears the Senate, let's say it makes it to the final vote in the Senate and it passes. Guess what? The House is gone. They're on recess already. I know. This is crazy, guys. So remember, the bill has to go back to the House because the House passed the version of it last year called Fit 21 It went to the Senate. The Senate made updates and they renamed it to the Clarity Act. Well, because of those changes, it has to go back to the House to be voted on. Now, I don't anticipate any issues in the House, but unfortunately, they're gone. So it can't be voted on by the House and then go to President Trump for signatures. So that's going to have to happen when they all come back in office in September. And I believe that's around September 14th. So this is where things stand, folks. We are not going to get a bill signed into law. But if we can get it out of the Senate, that would be a huge win. Now you may say, Tony, how do you know that? Well, if you caught my interview with Cody Carbone of the Digital Chamber, he's the CEO of the Digital Chamber. They are a crypto lobbying group that works in Washington, DC and Cody laid it out. I published that interview on Friday. If you haven't seen it, go see it, guys. Very, very important. He gives the update. So he has adjusted his timeline. So again, he's looking towards September because again, even if the bill makes it out of the Senate, has to go back to the House, but they're gone. Now, it may not fully make it out of the Senate, but if we can clear the big hurdles, that will be good so that when the Senate and the House come back into office in September, they can vote on it, get it out of the Senate, go to the House, and then President Trump can sign it. Now, let's hope that happens. Fingers crossed, right? Because we need that bill done, especially before the midterm elections, or we're not going to get anything done after, and 2027 is going to be tough. It looks like Democrats are going to win the House back. So I don't know what's going to happen here, guys.
It's really not looking too good, but my hope is that we clear the major hurdles, and if by any luck, we get the bill fully passed in the Senate, that will be the big win for this upcoming week. So what does that mean for the markets, guys? Well, we've been tracking Bitcoin, and it's mini-rally it's been having, and we're anticipating a rally up to, let's say, 70, $72,000.
The question I had was, can it break through the 200-day moving average and not get rejected? And my thesis was, we would have enough time where the Clarity Act passed, the Senate went to the House, and then President Trump could sign it later in August. But essentially, once it passed both segments of the government, we would have the narrative. We'd have the catalyst for the market to have some FOMO. Like, whoa, we just got crypto legislation done. Boom, let's go. Kind of like how we had the Genius Act pass last year. That's not going to happen for the Clarity Act, at least in the summer, right? I anticipate it's going to happen in the fall. So with this news of the Clarity Act not being able to make it all the way to be signed into law, right now, I think Bitcoin most likely gets rejected off the 200-day moving average. It rolls over and I think it goes to lower lows. Now, I'm not one to say it's going to 30k and 20k. That's kind of ridiculous. I do think it could go test 50k.