Bitcoin's Price Volatility Triggers as Fed Decision, CLARITY Act, and Fork Drama Converge

Bitcoin's price has been experiencing volatility in recent days, as it navigated through multiple key events. The cryptocurrency opened at around $64,800 on July 19 and closed at $64,700, before rebounding to a high of $66,910 on July 21. However, the trend reversed, and the price dropped for three consecutive sessions, settling between $63,950 and $64,120 per coin by July 25.

The Crypto Fear and Greed Index (CFGI) remained in 'Fear' territory throughout the period, with readings in the mid-20s to low 30s. This reflects caution left over from Bitcoin's drop from its October 2021 record high above $126,000.

U.S. spot Bitcoin exchange traded funds (ETFs) recorded net inflows exceeding $900 million over six to seven trading sessions through midweek. However, the streak ended on July 23 with about $225 million in net outflows driven mostly by IBIT redemptions.