From 24/7 Wall St. · Sam Daodu · · 1m 10s
Bitcoin Closes Above $85,000 After Senate Rejection
Bitcoin surged 14% to $86,291 after Senate killed CLARITY Act and Fed rate hike.
In brief
Bitcoin surged 14% to $86,291 after Senate killed CLARITY Act and Fed rate hike. Bitcoin closed above $85,000 after Senate rejected CLARITY Act and Fed rate hike, with $999 million in ETF inflows. Originally reported by 24/7 Wall St..
Bitcoin price surge
Bitcoin closed at $86,291 after surging 14% from $75,584.
Senate rejected CLARITY Act
Senate voted down CLARITY Act 49 to 50 on September 15.
Fed raised rates
Federal Reserve increased interest rates by a quarter percentage point on September 16.
Bitcoin held $75,000 support
Bitcoin tested $75,000 twice but closed above it each day.
Key resistance levels
Bitcoin surpassed $83,000 and $85,000 resistance levels.
Record ETF inflows
U.S. spot Bitcoin ETFs attracted $999 million in one day.
Market confidence
Bitcoin reclaimed 50-week moving average on September 20.
Analyst predictions
Analyst Jesse Marre expects Bitcoin to reach $95,000 to $100,000.
Potential risks
A drop below $75,000 or 10-year yields exceeding 5.01% could trigger pullback.
What happens next
Trump and Xi meeting on September 24 may impact Bitcoin price.
What it means
Bitcoin closed above $85,000 after Senate rejected CLARITY Act and Fed rate hike, with $999 million in ETF inflows.
