BTC: CLARITY Act Cloture Fails 49-50 After Fed Hike

BTC took two hits inside 48hrs as the CLARITY Act cloture vote cryptocurrency impact played out with a 49-50 failure Tuesday that sent spot to a monthly low near $75.9k, then the Fed hiked Wednesday and BTC recovered to $77k before settling $76.5k while forcing $260m+ of short liquidations on the way up.

With price at $78267.23 testing upper Bollinger resistance at $77887.35 while RSI(14) sits at 65.27, a healthy retracement to the 50-EMA support at $77214.55 seems probable before further continuation in this Bitcoin price reaction to Fed rate hikes environment.