Crypto traders braced for a total wipeout this week but Bitcoin had other plans
Market experts view bitcoin’s price stability as evidence of its fundamental independence from Washington, maintaining that global liquidity and adoption cycles remain the primary growth drivers.
Make preferred on
Share this article
Summary
- Bitcoin held near $75,000 despite a Federal Reserve rate increase and the Senate’s rejection of the Clarity Act, suggesting traders had largely anticipated both developments.
- Analysts expect near-term range-bound trading, with a move above $80,000 signaling a possible breakout and a drop below $75,000 threatening the recovery.
- The Clarity Act’s failure prolongs statutory uncertainty, but investors expect the S.E.C. and C.F.T.C. to advance crypto rules through existing authority as economic data and fund flows shape bitcoin’s next move.
