Trader downplays regulatory impact on Bitcoin
Peter Brandt, a well-known trader with decades of experience, thinks the potential passage of the US Clarity Act probably won’t move Bitcoin’s price much. He told Cointelegraph that while the legislation is needed, it’s not exactly a world-shaking development. “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 advisor David Sacks said they’re closer than ever to passing the landmark crypto market structure legislation. Sacks mentioned they look forward to finishing the job in January. But Brandt doesn’t see this as the catalyst that will push Bitcoin back to its all-time highs.
Market may have already priced in the news
John Glover, chief investment officer at Ledn, seems to agree with Brandt’s general sentiment. He told Cointelegraph that the potential passing of the Clarity Act has likely already been priced into the market. “I don’t expect this event to have a significant impact on the markets on day 1,” Glover said. He thinks any benefits to price action will probably be more delayed.
Still, both experts acknowledge the legislation would represent progress. Brandt emphasized it would be positive because it would greatly clarify the regulatory structure for crypto assets. Glover noted it’s another step toward broad-based acceptance of Bitcoin and Ethereum as investable assets.
Bitcoin’s price outlook remains cautious
Brandt shared his current view on Bitcoin’s price trajectory, and it’s not particularly bullish in the near term. He believes Bitcoin is in a bear market, though he said the Clarity Act could mean his “downside bias is moderate.” More specifically, Brandt thinks 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 around $88,000 at the time of publication. It’s interesting that even with potential regulatory clarity on the horizon, Brandt maintains this cautious outlook.
Political momentum building
The bill has been a top priority for both the crypto industry and pro-crypto lawmakers. Wyoming Senator Cynthia Lummis, a member of the US Senate Banking Committee, said she wants to take the next step in advancing the bill in the coming days. She mentioned the crypto industry was getting a little concerned about the bill’s progress, adding that drafts were changed so much every few days during bipartisan discussions.
I think what’s interesting here is the disconnect between regulatory progress and price expectations. The market seems to be telling us that clarity alone isn’t enough to drive prices higher. Maybe investors are waiting to see the actual implementation, or perhaps they’re more focused on macroeconomic factors right now.
Either way, it’s clear that experienced traders like Brandt are taking a measured approach. They see the legislation as necessary infrastructure rather than an immediate catalyst. The real test will come when we see how the regulations are actually implemented and enforced.
