Bitcoin Surges Past $85k Amid Interest Rate Hikes and Failed Legislation
Bitcoin has surpassed $85,000 in value, marking its highest weekly close in four months. The cryptocurrency's price increase comes after it reclaimed its 50-week moving average for the first time since November 2025.
The daily MACD has flipped bullish, confirming a momentum shift that traders had been tracking. This development follows a brief pullback that formed a higher low last week.
Despite market expectations of a price drop due to recent Federal Reserve interest rate hikes and the failure of the CLARITY Act in the Senate, Bitcoin's price continues to rise. Additionally, crypto market leverage has reached its highest level since October 10.
The stablecoin dominance is showing a bearish divergence, which some interpret as liquidity rotating back into cryptocurrency markets.