Bitcoin Price Prediction: Another Pressure Looms, But Is a Rate Hike Priced In?

Bitcoin sits at $75,500, down by an ugly 2% since yesterday. It’s far from calm, but the bigger number that matters happened in less than 12 hours, and it could change how we see our Bitcoin price prediction.

There’s more beneath the surface here than a routine pullback.Crypto market took a fresh beating after the US Senate failed to advance the Clarity Act, the market structure bill traders had leaned on to justify a break from an 11-month malaise.

Bitcoin fell 4% in US trading before stabilizing near $75,500 in London hours. More than $525 million in bullish leveraged bets got liquidated in the last 24 hours, a forced unwind that tends to leave scar tissue on short-term sentiment.

“Until investors gain more certainty on the path of rates globally, risk assets would remain under pressure,” said Pratik Kala, portfolio manager at Apollo Crypto.Liquidation data, CoinglassThe failed vote lands days before the Fed’s September 16 decision, where inflation prints and surging bond yields have traders bracing for Chairman Kevin Warsh to hike.