Bitcoin Consolidates Above $80K Amid Regulatory Uncertainty

Bitcoin's recent rally has left it hovering above $80,000, but the cryptocurrency still faces resistance at $85,000. Despite this, Bitcoin has shown resilience in the face of increasing regulatory uncertainty and shifting monetary policy.

The Federal Reserve's decision to raise interest rates by 25 basis points has added to the market's uncertainty. However, the crypto market had largely anticipated this move, with a 94% probability according to the CME Fed Rate tool.

U.S. spot Bitcoin ETFs have continued to attract significant capital inflows, providing support for Bitcoin despite regulatory challenges. The largest fund, BlackRock's IBIT, has approximately $63 billion in assets, followed by Fidelity's FBTC at around $14.3 billion.