On October 18, Bitcoin briefly rose more than 5%, moving back above $80,000 and reaching a high of around $80,400—its highest level in about two weeks. Ether also rose about 5%, to around $2,576. Risk appetite improved as investors gradually digested news that the U.S. Senate had failed to advance a procedural vote on the CLARITY Act and that the Federal Reserve had raised interest rates for the first time in more than three years. The setback to regulatory legislation and hawkish monetary policy would normally create short-term pressure, but the SEC’s approval of an exemption for tokenized stock trading and roughly $160 million in net inflows to Bitcoin ETFs in a single day supported market sentiment. Going forward, watch for progress on regulatory legislation and whether ETF inflows are sustained. $BTC $ETH

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