- Michael van de Poppe believes the CLARITY Act is effectively dead.
- Poppe believes gold has topped out, and capital rotation to Bitcoin will stir a risk-on investment mode.
- Altcoins may follow Bitcoin higher, with recent selloffs seen as a buying opportunity
Crypto analyst Michael van de Poppe believes the CLARITY Act is effectively dead. Poppe stated that the heated bipartisan debate on the CLARITY Act has killed the momentum to pass this bill in the United States.
As such, Bitcoin (BTC) has led the wider altcoin market in losses over the last few days, compared to Gold and Silver. According to CoinMarketCap data, the total crypto market cap dropped 3% over the past 24 hours to hover around $3.13 trillion at press time.
Meanwhile, Gold and Silver rallied to new all-time highs during the past 24 hours, fueled by heated geopolitical tensions between the United States and Europe over Greenland.
Poppe Remains Bullish on Crypto Amid CLARITY Act Delay
According to Poppe, the delay of the CLARITY Act, following Coinbase’s decision to withdraw its support, has changed nothing about the crypto bull market. Notably, Coinbase has clashed with traditional banks for their attempted control of the web3 space and crypto industry through the CLARITY Act.
Poppe stated that the CLARITY Act, in its current form, is a proxy for old money to protect its status quo. As such, he stands with Coinbase CEO Brian Armstrong, who previously stated that the crypto industry is better off without the CLARITY Act in its current form.
Nonetheless, Poppe stated that a deal is likely to be struck behind closed doors in a similar fashion to the Markets in Crypto Assets (MiCA) regulation in Europe. Furthermore, the U.S. legislative body is keen to gain the support of more than 52 million voters already invested in the crypto industry.
What’s Next?
Renewed Capital Rotation From Gold
Poppe stated that the Bitcoin price stands to benefit from a potential gold price top-out. This analyst stated that the BTC/GOLD pair has potentially bottomed out and is on the cusp of a market reversal.
He stated that the BTC/GOLD pair has formed a potential higher low after breaking above the 21-Day Moving Average (MA). As such, Poppe anticipates an accelerated capital rotation from gold to Bitcoin to catalyze a risk-on investment mode.
Altseason Renaissance?
Similarly, Poppe expects the altcoin market to follow Bitcoin in a bullish outlook soon. After a heavy selloff for the wider altcoin market during the last few months, Poppe believes now is a great opportunity to accumulate more in anticipation of a bull rally.
The altseason 2026 is expected to be fueled by institutional investors and the return of FOMO (Fear of Missing Out) traders. The altcoins that have their spot exchange-traded funds (ETFs) approved in the United States are well positioned to lead in the expected altseason 2026.
Related: Gold Hits Record High as Crypto Market Loses $100 Billion in Hours
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