Bitcoin survives Fed pre-meeting: $70,000 is the key test
- —CLARITY Act failed a procedural vote 49-50, short of the 60 votes needed
- —Bitcoin hit an intraday low below $75,000, losing support at $76,300-76,600
- —US 10-year Treasury yield reached 5.041%, the highest since 2007
- —85% of economists expect the Fed to raise rates by 25 bps to 3.75-4.00%
Why it matters: Holding $70,000 would preserve the August rebound; a break below opens the way to the $62,000-65,000 long-term holder accumulation zone.
Source: CryptoSlate