Crypto
Bitcoin Surges Past $84,000 After Senate Bill Fails and SEC Issues Unexpected Exemption
On September 15, the Senate's Digital Asset Market Clarity Act failed its cloture vote 49-50, ten votes short of what it needed.
A day later, the Fed raised its benchmark rate by 25 basis points to 3.75% to 4.00%, its first hike since July 2023.
BTC fell below $75,000 on the news, but quickly recovered and spent the following week consolidating above $80,000.
On Monday, September 21, BTC gained about 3% in roughly an hour, breaking above $84,000 for the first time since late January and liquidating an estimated $252 million in short positions in the process, an eight-month high.