The cryptocurrency market's upward momentum has stalled as traders reassess the likelihood of a pivotal US regulatory bill advancing through Congress this year. On the prediction platform Polymarket, the probability of the Clear Act passing in 2025 briefly surged above 30% during US trading hours, only to retreat back to 18% by early Tuesday morning in Asia.

This shift in sentiment has weighed heavily on Bitcoin, which pulled back from a high of $79,586 and slipped below the $78,000 level by 11:36 AM Singapore time. The leading digital asset accounts for approximately 60% of the total cryptocurrency market capitalization, making its price swings particularly influential across the broader sector.

Senator Mark Warner told reporters at the Capitol that a group of Democratic negotiators will present their party's counterproposal to Republicans ahead of a crucial procedural vote on the Clear Act scheduled for tomorrow. The comprehensive crypto regulation bill has been mired in partisan disputes for over a year, and under Senate rules requiring a 60-vote threshold for most legislation to advance, it still needs support from several Democratic lawmakers to move toward a final vote.

"The probability of the bill being signed into law in 2026 stood above 70% in May, fell to just over 10% in August, and then climbed back toward 30% on Monday. This demonstrates that the market has not formed a stable consensus at all," said Rachael Lucas, an analyst at BTC Markets, commenting on the prediction market figures. However, she added, "The fact that Democrats have put forward their own proposal indicates that negotiations are still ongoing, rather than having broken down entirely."