Everything Went Against Bitcoin This Week – So Why Is BTC Back Above $80K?

It was a week ago when the US CPI data had already come out, and the Fed had all the necessary puzzle pieces before its key FOMC meeting.

Investors turned their attention to BTC, not only because of the US central bank’s actions, but also due to the CLARITY Act vote in the US Senate, as well as the potential rate hike in Japan on September 18. All of those events have now passed.

And none of them went positively for BTC. The CLARITY Act set the stage with a failed vote to proceed on Tuesday, followed by the Fed’s first rate increase in over three years, and the Bank of Japan followed with another hike to a 31-year high.

Despite all these setbacks, bitcoin actually holds strong. BTC Should Have Been Hurt by Now We are not saying that the cryptocurrency didn’t feel any pain last week.