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Bitcoin fell below $76,000 after the US Senate failed to advance the CLARITY Act.
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Veteran trader Peter Brandt previously predicted an Oct. 4 market bottom, potentially in the high-$40,000 range.
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Bitcoin must first lose a major support cluster near $71,000 before Brandt’s bearish scenario becomes technically credible.
Bitcoin’s price slipped below $76,000 on Wednesday, bringing veteran trader Peter Brandt’s warning of an October plunge into the high-$40,000s back into focus.
The world’s largest crypto traded near $75,877, its lowest level in almost four weeks, after losing nearly 4% during Tuesday’s session
Bitcoin has now surrendered most of its September recovery and sits roughly 40% below the record high of approximately $126,000 reached in October 2025.
Peter Brandt’s Oct. 4 Bitcoin Price Prediction
As CCN reported in July, Brandt made an unusually specific prediction that Bitcoin’s bear market would bottom on Oct. 4.
“I’ll go out on a limb and say we bottom on October 4th. So we’ll see,” he said during an interview with Cointelegraph.
Brandt based the forecast partly on Bitcoin’s historical four-year cycle.
Previous bull markets have often peaked between 16 and 18 months after a halving, then entered a downturn lasting approximately one year.
Bitcoin’s latest record was set on Oct. 6, 2025, about 18 months after the April 2024 halving. A bottom in early October 2026 would therefore arrive almost exactly one year after the peak.
Brandt’s accompanying price scenario placed Bitcoin in the high-$40,000 range.
A fall to around $48,000 would represent a 62% peak-to-trough decline and require another drop of roughly 37% from current prices.
A fall all the way to $40,000 would require Bitcoin to lose approximately 47% from $76,000.
CLARITY Act Defeat Hits Bitcoin
Bitcoin’s latest decline accelerated after the Senate failed to advance the CLARITY Act.
The procedural vote ended 49–50, leaving the legislation 11 votes short of the 60 required to overcome the Senate threshold and proceed.
Three Republican senators joined Democrats in opposing the motion.
Despite some bulls remaining, its failure forced markets to remove some of the regulatory optimism that had supported Bitcoin’s late-summer recovery.
Institutional demand also weakened.
US-spot Bitcoin exchange-traded funds recorded approximately $450 million in net outflows on Tuesday, reversing the previous session’s $160 million inflow
The setback came as investors also await the Federal Reserve’s interest-rate decision.
Source: finance.yahoo.com