The CLARITY Act’s failure followed the same logic, weeks of uncertainty had already been weighing on prices, and once the outcome landed, whether good or bad, that overhang simply lifted.
His more pointed read went further. He argued the CLARITY Act had quietly evolved into legislation designed to protect banks rather than help crypto, making its failure less a setback and more what he called a “max bullish outcome” for the industry.
The SEC’s Quiet Intervention
The more interesting thread is what he says happened immediately after CLARITY collapsed. He’d told listeners in advance that once the bill’s failure became obvious, the SEC would move fast to fill the gap, issuing its own rules to let the industry operate without waiting on Congress. That’s exactly what played out.
He called the SEC’s rapid response “very bullish” and “very constructive,” opening the door for new products and services under guidance that, in practice, turned out more specific and workable than the stalled bill would have offered.
Where The Real Momentum Is Building
Bitcoin has mostly traded sideways-to-up since a major short liquidation event in August, but the sharper action, by his account, is happening in altcoins. Ethereum has climbed past $2,700 and briefly touched $2,800, with a return to $3,000 seen as likely soon. Sui is up roughly 30% in 24 hours.
Not A Bubble Yet, Just A Return To Normal
What stands out is how grounded the read stays despite the excitement. Bitcoin reclaiming its 50-week moving average is framed not as a breakout signal but simply as the price climbing back above its own one-year average, a reversion to the mean rather than proof of overheating. The broader argument is that crypto has spent months lagging behind rallies in other asset classes, and this move largely reflects catching up, not yet tipping into overvalued territory. Whether momentum carries prices meaningfully past that average from here is the open question still being watched.
coinpedia.org
