Bitcoin Defies Five Major Bearish Headlines in One Week
Bitcoin's recent price action has been remarkable in its resilience to bearish news. In just one week, five major headwinds failed to bring down the price of BTC, including the CLARITY Act failing in the Senate and both the Federal Reserve and Bank of Japan hiking interest rates. The dollar index also reclaimed 100, while oil prices climbed.
The same pattern emerged during the 2023 SEC enforcement wave when multiple lawsuits and ETF delays failed to force new lows, often marking durable bottoms. Currently, BTC is trading at $80,961.43 on the four-hour chart, above its EMA50 at $77,484.78 and EMA200 at $74,749.56.
The MACD indicator has printed a golden cross at 595.81, while the price tests the upper Bollinger Band at $79,877.33 with an RSI(14) of 78.78. This suggests that a brief pullback toward the 50-EMA support is likely before continuation.