Bitcoin experienced a week defined by three major unfavorable events: the failure of the CLARITY Act in the US Senate, the Federal Reserve’s first interest rate increase in over three years, and the Bank of Japan’s rate hike to a 31-year high. BTC dropped to $75,000 after the bill’s rejection, with more than 23,000 BTC sold at a loss on exchanges. Despite these setbacks, the cryptocurrency rebounded to cross $81,000 by Friday, erasing most of its weekly losses. Experts including Crypto Dan and Bitwise CIO Matt Hougan attributed this resilience to markets having already priced in these events, suggesting the recovery was not entirely dependent on the CLARITY Act passing.
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