Patrick Witt, Executive Director of the White House Presidential Advisory Council on Digital Assets, predicted a rapid rise in cryptocurrencies following passage of the CLARITY Act. On Polymarket, Bitcoin reaching $80,000 in April trades at 11% YES, down from 30% yesterday.
Market reaction
Bitcoin prediction markets moved sharply after Witt’s statement at the Bitcoin 2026 conference. The Bitcoin Price Targets market dropped from 56% to 18% in a single 37-point move before stabilizing at 11%. Traders are pricing in skepticism about immediate impact, given the legislative timeline.
Why it matters
The market predicting Bitcoin dipping to $60,000 remains unaffected, which suggests traders see the regulatory environment as a long-term bullish factor rather than an immediate catalyst. The April sub-market for $150,000 shows no notable movement either.
Trading volume for the $80,000 target was $141,284 in USDC over the past 24 hours, with $266,780 required to shift the odds by five points. The market is thin enough to produce sharp moves (the 37-point drop being the largest), but sustaining those moves requires real capital, not just sentiment.
Witt’s optimistic outlook depends on the CLARITY Act passing, which could increase institutional confidence and inflows. At 11% YES, a bet on Bitcoin reaching $80,000 by April offers high potential payout but only makes sense if you expect swift legislative progress and an immediate market response. Otherwise, this is a speculative position.
What to watch
Senate Banking Committee activity or announcements from key senators like Thom Tillis or Angela Alsobrooks. Their actions would provide concrete signals beyond conference-stage optimism.
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Term Structure| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| $80,000 | 10.5% | — | — | Trade → |
| $150,000 | 0.1% | — | — | Trade → |
