Bitcoin reclaims $80,000, Ethereum nears $2,620 despite hawkish Fed, CLARITY Act setback
Bitcoin reclaimed $80,000 and Ethereum approached $2,620 as crypto markets recovered despite a hawkish Federal Reserve stance and uncertainty around the CLARITY Act. Improving risk sentiment, cooling oil prices and short liquidations supported the rebound, while ETF outflows, elevated rates and regulatory uncertainty remain key factors shaping the market outlook.
Bitcoin and Ethereum have both regained ground, trading above $80,000 and $2,620 respectively, despite a hawkish Federal Reserve decision and a setback for the CLARITY Act. Bitcoin saw a 4.6% increase over the past 24 hours, reaching $81,012, while Ethereum rose 6% to $2,622. Other major altcoins, such as BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano, also experienced gains, with some reaching up to 6.2%.
Analysts attribute the rebound to improving risk sentiment and positioning, as well as cooling oil prices that have eased inflation concerns. This rally has also pushed bearish leverage out of the market, contributing to the upward movement through short liquidations.
As the market focuses on whether the breakout can hold, Bitcoin must remain above $80,000 and Ethereum must stay within the 2,580–2,600 range to maintain the near-term structure. The global crypto market capitalization rose 4.1% to $2.86 trillion on Saturday, according to Coingecko data. Over the past week, both Bitcoin and Ethereum gained 4.9% and 4.6%, respectively.
ETF activity has shifted, with Bitcoin ETFs moving from daily inflows of $159.9 million to outflows of $450.33 million and Ethereum ETFs shifting from an inflow of $121 million to outflows of $141 million and $224.11 million. Despite the gains, concerns remain over elevated rates, regulatory uncertainty, and expensive oil, which continue to shape the weekly outlook for cryptocurrencies.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
