Bitcoin Stands Firm as Fed Hike and CLARITY Act Rejection Fail to Deliver Lasting Selloff

BitGo Research has observed that Bitcoin has displayed resilience in the face of two negative events within a short period. The first event was the Federal Reserve's decision to raise its federal funds target range by 25 basis points, a move that was widely expected but still had an impact on traditional markets. According to BitGo, the Fed's new rate projections, which showed a median federal funds rate of 4.1% for both 2026 and 2027, were a key factor in the decision.

The second event was the Senate's rejection of the CLARITY Act, a bill aimed at establishing a federal framework for digital asset oversight. The vote, which fell short of the required 60 votes, resulted in Bitcoin falling towards $75,000 but recovering to around $76,000 within hours.

BitGo Research chief Greg Cipolaro argued that Bitcoin's muted response to these events suggests that negative news is being absorbed into digital asset prices. He noted that gold, equities, and the dollar moved as expected in response to the Fed's decision, but Bitcoin did not follow suit.