🔥 $BTC Faced Three Major Headwinds. It Hit an Eight-Month High Anyway What would have shaken it ? Last week delivered higher rates in two major economies and a setback for U.S. crypto legislation. Bitcoin entered Monday climbing to its highest levels since January. The sequence matters. The Senate rejected the motion to advance the CLARITY Act, 49–50, short of the 60 votes required. The next day, the Fed raised its target range to 3.75%–4.00%. On September 18, the Bank of Japan voted to lift its policy rate to 1.25%, effective September 24. By 21:48 UTC on September 21, $BTC was near $86,750, up approximately 7.3% over 24 hours, after touching roughly $87,364, according to CoinMarketCap’s data. That’s a strong recovery. The fuel deserves a closer look. The same report put market-wide open interest near $156 billion, up 7.6%. That needs care: dollar-denominated exposure can increase as prices rise, and open interest alone cannot tell us whether traders are adding bullish conviction or hedges. Washington also supplied a positive development. On September 17, the SEC created a temporary, conditional pathway for trading certain tokenized stocks. Congress’s setback therefore didn’t halt every route to regulatory progress. The exemption still comes with restrictions and investor protections. Bitwise CIO Matt Hougan told CNBC he believes crypto winter is over and expects an exceptionally strong, long bull market. That is his outlook; the next few weeks still have to earn it. What interests me most is that sellers couldn’t turn last week’s headlines into a sustained breakdown. Now buyers face a different test: keeping the recovery intact when forced short covering slows. Will spot buyers keep paying higher prices once the short squeeze stops doing the buying for them ? #Altcoin Season# #BTC Price Analysis# #Macro Insights#