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 reclaimed the $80,000 mark and Ethereum neared $2,620, defying a hawkish Federal Reserve decision and a setback for the CLARITY Act. The global crypto market capitalization increased by 4.1% to $2.86 trillion, with Bitcoin and Ethereum gaining 4.9% and 4.6% respectively over the past week. Analysts attribute the rebound to improving risk sentiment and positioning, cooling oil prices, and bearish leverage out of the market.
However, the focus now shifts to whether the breakout can hold, as Bitcoin must remain above $80,000 and Ethereum between $2,580 and $2,600 to preserve the near-term structure.
Brief written by urgent.news from The Economic Times - Top News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
