Bitcoin drops 1.7% as Polymarket odds on Clarity Act passage sharply decline

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Bitcoin slipped 1.7% to $76,862 as of midnight UTC on Tuesday, reversing gains made during a late Monday rally. The decline coincided with a sharp drop in prediction market odds on Polymarket regarding the passage of the Clarity Act. Overnight, the probability of the crypto legislation becoming law this year roughly halved on the platform. The Clarity Act's uncertain legislative prospects appear to have dampened investor sentiment, triggering the pullback in Bitcoin's price.

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