Santiment: Bitcoin FOMO fades after CLARITY Act failure and Fed hike, hashrate rising
- —On September 14 Santiment warned of extreme FOMO in the crypto community
- —On September 15 the Senate did not advance the CLARITY Act, and Bitcoin fell
- —On September 16 the Fed raised rates 25 bps to 3.75-4%
- —CryptoQuant: Bitcoin's hashrate has ended its fall and is rising
Why it matters: Rising hashrate increases miners' costs and has historically coincided with price gains, but market sentiment remains subdued.
Source: Cryptonews.net