Recently, the Bitcoin market has once again become a focal point for investors. With the discussion of the CLARITY Act heating up ahead of December 20, 2025, the market's landscape has become increasingly complex in an instant. Although the bill aims to provide a clear regulatory framework for crypto assets, market sentiment appears to be growing more tense, especially against the backdrop of tightening macro liquidity.

Clash of Opinions

In the discussion of the CLARITY Act, the positions of different roles form a stark contrast. Veteran trader Peter Brandt mentioned, "The positive significance of the CLARITY Act is that it will greatly clarify the regulatory structure of crypto assets." He emphasized the potential legitimizing impact the bill could have on the future of the industry. On the other hand, Ledn's Chief Investment Officer John Glover warned, "The potential passage of the CLARITY Act has already been priced in by the market," which puts investors in a double bind when assessing Bitcoin prices. Market hesitation and liquidity deadlock intertwine, with short-term bearish expectations continuously rising.

Regulatory Shadow

Why does the market continue to show a fearless stance despite the "Damocles' sword" of regulation hanging in the balance? The slow progress of authorities in governing crypto assets stands in stark contrast to investors' hopes for the future market. Recently, Coinbase, as a moral benchmark, has once again brought industry safety to the forefront due to its involvement in a fraud case. The case, involving an amount as high as $16 million, has attracted widespread attention, with police seizing $105,000 in cash and $400,000 worth of crypto assets during the investigation. This undoubtedly sows the seeds for a "FUD" sentiment in the market; nevertheless, traditional investment logic seems to still be weighing potential long-term gains.

As the regulatory framework gradually takes shape, the reverse operations of whales have reinjected confidence into the market. In the current situation, investors are adopting a cautious attitude, tending to view short-term fluctuations as a reflection of market maturity rather than losses caused by panic. Against this backdrop, large institutional investors are gradually showing optimistic sentiment. Coinbase's recent 2026 market forecast indicates that the entire crypto environment will become more akin to 1996, with the market focus shifting towards a "DAT 2.0" model, emphasizing the trading and storage of sovereign block space.

Choices Under Economic Pressure

The liquidity situation in the market is also not to be underestimated. Currently, due to the Federal Reserve's continued tightening of monetary policy, the tension in the market's funding chain has intensified, with many market analysts viewing this phenomenon as the fundamental reason for the short-term depreciation of Bitcoin prices. Analysts state, "Liquidity easing requires nuclear-level money printing; the short-term outlook for Bitcoin is bearish." In this context, market participants must conduct risk assessments amid the clash of new and old forces.

Moreover, as the CLARITY Act progresses, on one hand, it will promote the standardization of the crypto industry, as advocated by Peter Brandt, with the gradual clarification of regulations helping to guide capital inflows and form a long-term positive cycle; on the other hand, the short-term volatility of the market during the industry's reshuffling will have a profound impact on investor psychology. Investors need to have a long-term vision to identify opportunities that flow through chaotic times.

Fragility of Investor Confidence

As the Coinbase fraud case continues to escalate, concerns about safety within the industry are spreading. This is not only about controlling the participants in the crime but also serves as a wake-up call for the entire market ecosystem. This incident has somewhat distorted investors' confidence in crypto assets, and the community's lack of a strong counterattack may instead trigger more "FUD" sentiment among investors. However, there is still a glimmer of hope in the market, which is precisely the possibility brought by regulatory legislation.

Future Outlook

Looking ahead, as the clash of power and ideas intensifies, the industry stands at a historical crossroads. "In the future, compliance and institutionalization will become the main theme." This view has garnered support from many investors. Although the market still needs to focus on the gains and losses of key positions in the short term, all the panic may hide rare layout opportunities. The trend towards institutionalization may bring new vitality to the crypto market, fundamentally changing the investment strategies of participants.

In the long run, as the regulatory model gradually takes shape, it is highly likely to attract larger-scale capital inflows into the entire market. Many investors are planning to make active and rational layouts based on the overall market health sentiment, with the ultimate goal of achieving long-term returns and consolidating a sustainable investment ecological niche.

In summary, in this grand market transformation, whether Bitcoin can make a comeback and reshape the meaning of the era will depend on the dual impact of regulation and liquidity, while the future direction of the market ecosystem remains an important issue that every investor needs to pay attention to.

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