Bitcoin Blasts Past $80K on Unexpected Dovish Forecast

The Federal Reserve's rate hike was met with an unexpectedly dovish forecast, sending Bitcoin surging to $80,846, up 5.88% in 24 hours.

This price jump has led to over $230 million in Bitcoin short bets being liquidated and more than $445 million across the entire crypto market.

Technical indicators suggest a bigger move could still be building, with the Average Directional Index (ADX) measuring how strong a trend is at 40.6, above the 25 threshold traders use to confirm a real trend is underway.