Bitcoin’s price fell today to below $75,000, down by nearly 4.6% over the day, after the Senate’s vote to end (cloture) the CLARITY law failed. Liquidations worth around $771 million were recorded in the market after leveraged long positions were forced out in a “sell the news” reaction.
What’s adding pressure: the Federal Open Market Committee (FOMC) decision is due tomorrow, September 16, while markets price in an 85–91% chance of a 25-basis-point interest-rate hike—rather than a cut. This mix—an ineffective regulatory catalyst combined with “stubborn” rate-hike odds for the Federal Reserve—is why today’s drop has been more severe than any typical pullback.
Levels to watch: Bitcoin is currently stabilizing in the $74,000–$76,000 range, away from the $78,000–$79,000 band that it spent most of last week, and roughly 6–7% below this month’s peak at $82.3K. Reclaiming the $76.8K–$77.6K area would be the first sign of stabilization, while losing $74,000 could open the door to deeper support.
$BTC
What’s adding pressure: the Federal Open Market Committee (FOMC) decision is due tomorrow, September 16, while markets price in an 85–91% chance of a 25-basis-point interest-rate hike—rather than a cut. This mix—an ineffective regulatory catalyst combined with “stubborn” rate-hike odds for the Federal Reserve—is why today’s drop has been more severe than any typical pullback.
Levels to watch: Bitcoin is currently stabilizing in the $74,000–$76,000 range, away from the $78,000–$79,000 band that it spent most of last week, and roughly 6–7% below this month’s peak at $82.3K. Reclaiming the $76.8K–$77.6K area would be the first sign of stabilization, while losing $74,000 could open the door to deeper support.
$BTC