Industry veterans downplay immediate price impact
Veteran trader Peter Brandt doesn’t think the potential passage of the US Clarity Act will shake up Bitcoin’s price much. He told Cointelegraph that while the legislation is needed, it’s not something that should redefine Bitcoin’s value. “Having an asset regulated, particularly an asset for which die-hard investors never wanted to be regulated, is not an earth-shattering event,” Brandt explained.
His comments came after White House crypto and AI advisor David Sacks said last Thursday that they’re “closer than ever” to passing the landmark crypto market structure legislation. Sacks added they look forward to finishing the job in January.
Already priced in, according to some
Brandt doesn’t see the Clarity Act as a catalyst that will drive Bitcoin back to its all-time high of $125,100. But he did emphasize that the legislation would still be a positive step for the wider crypto industry. “The Clarity Act would be positive because it would greatly clarify the regulatory structure for crypto assets,” he said.
John Glover, chief investment officer at Ledn, shares a similar view. He told Cointelegraph that the potential passing of the Clarity Act has already “been priced into the market.” Glover doesn’t expect the event to have a significant impact on markets on day one, suggesting any benefits to price action are likely to be more delayed.
“It is another step toward broad-based acceptance of Bitcoin and ETH as investable assets,” Glover noted. “So over time I still expect the price trajectory to be up and to the right over time.”
Bitcoin’s price outlook
Brandt offered his perspective on Bitcoin’s current market position. He thinks Bitcoin is in a bear market, though he said the Clarity Act could mean his “downside bias is moderate.” More specifically, Brandt believes the charts suggest Bitcoin could trade down to the $60,000 level, likely in the third quarter of 2026.
That would represent about a 31% drop from Bitcoin’s price at the time of publication, which was around $88,000 according to CoinMarketCap data.
Legislative progress
The bill has been a focus not only for the crypto industry but also for pro-crypto lawmakers. On December 9, Wyoming Senator Cynthia Lummis, a member of the US Senate Banking Committee and one of the most prominent congressional proponents for addressing digital asset market structure, said she wants to take the next step in advancing the bill in the coming days.
Lummis mentioned that the crypto industry “was getting a little concerned” about the progress of the bill. She added that drafts were “changed so much every few days” during bipartisan discussions, which perhaps explains some of the uncertainty around timing.
I think what’s interesting here is the disconnect between regulatory progress and price expectations. The industry seems to want clarity, but traders don’t necessarily see that clarity translating directly to price gains. Maybe that’s because regulation brings both legitimacy and constraints – it’s a double-edged sword.
The market’s reaction, or lack thereof, to regulatory news suggests investors are looking at other factors too. Things like adoption rates, institutional interest, macroeconomic conditions – those might matter more than any single piece of legislation, even an important one like this.
Still, having clearer rules could make more traditional investors comfortable with crypto. That’s probably the long-term play here. Not immediate price spikes, but gradual acceptance that builds over years.
