Analyst Explains Bitcoin's 15% Rally After CLARITY Act Failure and Fed Rate Hike
- —Bitcoin hit $86,000 on September 21, its highest since January 28
- —The gain was about 15% over six days after the CLARITY Act failed
- —The Fed raised rates by 25 basis points, but the market reaction was muted
- —The SEC moved quickly to issue rules instead of waiting on Congress
Why it matters: Bitcoin reclaiming its 50-week moving average may signal the end of crypto's lag behind other asset classes.
Source: Cryptonews.net