Bitcoin Rallies Above $85,000 as Equiti Re-Enters Market

Equiti's Strategy has resumed buying Bitcoin after a two-week pause, acquiring 950 BTC at an average price of $79,670 per coin. This move was funded by cash and not a new share sale, indicating that the company is willing to invest in the asset despite recent regulatory setbacks.

The Senate's failure to pass the CLARITY Act, which aimed to provide a comprehensive framework for cryptocurrency regulation, initially led to a 4% drop in Bitcoin's price. However, the market has since rebounded, with Bitcoin moving from the mid-$75,000s to above $85,000.

Technical analysts are now watching the 73,750-82,800 area as key support for Bitcoin. A break above $87,800 would confirm that Wave (3) has likely ended and put $97,700 back in focus. On the other hand, a clear break below $73,750 would weaken the bullish count.