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Bitcoin rebounds above $80,000 following regulatory and Fed setbacks
Bitcoin has rebounded above $80,000, overcoming a volatile week marked by significant macroeconomic and regulatory headwinds. Earlier in the week, the price fell below $75,000 following the U.S. Senate's failure to advance the Digital Asset Market CLARITY Act, which failed a procedural vote with a 49-50 result. Additionally, the Federal Reserve implemented its first interest rate hike since 2023, raising the target range by 25 basis points to 3.75%-4.00%.
Despite these challenges, the market saw a recovery driven by short liquidations and renewed institutional interest. U.S. spot Bitcoin ETFs returned to positive territory with significant net inflows, including $183.7 million into BlackRock's IBIT. Furthermore, the SEC provided a regulatory boost by approving a five-year exception for the trading of tokenized U.S. stocks on certain platforms. The Commodity Futures Trading Commission (CFTC) also submitted a proposed cryptocurrency market framework to the White House for review.
On-chain data indicates a shift in market structure, with the share of Bitcoin transaction outputs held at a loss decreasing from nearly 60% to approximately 27%, suggesting easing financial pressure on holders.
Entities
Bitcoin · Bitcoin · BlackRock · CoinShares · Commodity Futures Trading Commission · CryptoQuant · Elizabeth Warren · Federal Reserve · Securities and Exchange Commission · U.S. Senate · United States Senate
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] $71,300 is identified as a potential support level based on active-supply cost-basis. coindoo.com
- [○ 1 SOURCE] Senator Warren argued the Clarity Act in its current form could facilitate corruption involving the Trump family and cryptocurrency scams. cryptonewsland.com
- [○ 1 SOURCE] The share of Bitcoin transaction outputs held at a loss has decreased from nearly 60% to approximately 27%. coindoo.com
- [○ 1 SOURCE] Analyst Lark Davis identified $73,000 as an initial support level for Bitcoin, with $67,000 as a secondary level if that is lost.
- [● 2 SOURCES] Senator Elizabeth Warren delivered a speech that contributed to the failure of the Clarity Act vote. cryptonewsland.com · www.tronweekly.com
- [● 11 SOURCES] The Federal Reserve raised interest rates by 25 basis points. www.tronweekly.com · www.world-today-news.com · timesng.com · coinpaper.com · decrypt.co · +4 more
- [● 6 SOURCES] The U.S. Senate rejected a motion to advance the Digital Asset Market CLARITY Act with a 49-50 vote. www.tronweekly.com · cryptonewsland.com · coinpaper.com · www.crypto-news-flash.com · www.tekedia.com
- [● 3 SOURCES] Over $200 million in short positions were liquidated. en.bitcoinsistemi.com · decrypt.co
- [● 9 SOURCES] Bitcoin reclaimed the $80,000 level. timesng.com · coinpaper.com · en.bitcoinsistemi.com · decrypt.co · www.crypto-news-flash.com · +4 more
- [○ 1 SOURCE] BlackRock's IBIT attracted $183.7 million in inflows. coinpaper.com
- [○ 1 SOURCE] Approximately $190 million of the $198 million in liquidated leveraged positions consisted of short positions. en.bitcoinsistemi.com
- [● 2 SOURCES] The CFTC submitted a cryptocurrency framework to the White House for regulatory review. coingape.com · news.bitcoin.com