Bitcoin Price Rebounds to $80,770 After Fed Rate Decision

The Bitcoin price has rebounded sharply after the Federal Reserve's rate decision on September 17. The widely anticipated increase had already been priced into markets, and once it was confirmed, uncertainty surrounding traders eased.

This allowed risk-on positioning to return, and the price of Bitcoin climbed above nearby moving averages at $73,949 and $73,195. It has also recovered from the $75,000-$76,000 area to around $80,770, a move marked by an 8.04% increase.

The rebound follows the Fed's rate decision and the earlier failure of the crypto-focused CLARITY Act in the U.S. Senate. The market had taken a hit from the uncertainty surrounding these events but has since regained key levels.