According to @Matt_Hougan, the CLARITY Act is a pivotal market catalyst, with passage and enactment potentially driving crypto to new all-time highs while a failure in Congress could extend the downturn, source: Matt Hougan on X, Jan 12, 2026. He cited that Polymarket pricing implies an 80% probability the bill is signed into law this year, that it cleared the House last year, and that Senate markups are expected this week, source: Ryan Rasmussen on X, Jan 12, 2026, referenced by Matt Hougan on X, Jan 12, 2026. The key sticking points are stablecoin yield and DeFi developer protections, which frame the near-term focus for traders on the Senate markup timeline and final language of these provisions, source: Ryan Rasmussen on X, Jan 12, 2026; Matt Hougan on X, Jan 12, 2026.