Why Is Bitcoin Above $80K After The Clarity Act Failed?
Bitcoin just took two direct hits, the Clarity Act failed its Senate cloture vote and the Fed hiked rates for the first time since 2023, and it barely flinched, dipping only to $75K before ripping back above $80K. Over $100 million in short positions got liquidated as bears learned Bitcoin doesn't need Washington's approval: SEC Chair Paul Atkins and CFTC Chair Mike Selig have both said they'll keep building crypto regulation regardless of Congress. Senator Warren's opposition to the bill looks a lot less about ethics and a lot more about her real preference: a government-issued digital currency. Meanwhile Warren Buffett handed the Berkshire Hathaway chairmanship to his son Howard today, and both Steve Eisman and Palantir's Alex Karp are warning that AI is setting up the next 2008-style, too-big-to-fail crisis, with Bitcoin as the value play on the other side of it. Bitcoin just bounced off its 200 day moving average again. Rocky style, it keeps getting up.
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