Bitcoin Bulls Unfazed by Fed Hike and Crypto Bill Vote
Bitcoin's price remained surprisingly firm around $75,700-$76,500 on Wednesday after two major market shocks. The US Federal Reserve raised its benchmark rate by 25 basis points (to 3.75-4.00%), and the Senate blocked the crypto-focused 'Clarity Act'.
The events might have undercut risk assets, yet Bitcoin's price barely budged. According to TradingView, BTC briefly dipped but recovered, effectively holding support above $75k.
Crypto researcher Willy Woo put the odds of a market bottom at 90%, citing the return of long-term investor liquidity. He emphasized that if this 'liquidity-based view is correct, the market bottom is likely already in place,' and that a bull run should continue 'as long as investor inflows do not weaken significantly.'
The challenge for Bitcoin's price now is to hold its ground and attract fresh support. The key technical area is roughly $75,000, a break below that could invite deeper selling.