Bitcoin Sentiment Revives Despite Failed Crypto Bill, Rate Hike as Price Reclaims $85,000

Forecast Trend Report by Period

Bitcoin Reclaims $85,000 for First Time in Eight Months, Up 10% in a Week

$1 Billion in Net Inflows to U.S. ETFs

Optimism Builds Ahead of Trump-Xi Summit

‘20-Year Bitcoin Holding Act’ Adds Support

Overheated Sentiment Triggers ‘Extreme Greed’ Warning

Bitcoin is rebounding through a series of setbacks. Its gains have held even after Congress failed to pass the CLARITY Act, a U.S. crypto market structure bill, and after benchmark interest rates were raised. Market watchers say Bitcoin is drawing support from growing expectations that it could become a strategic asset for the U.S. government. Falling U.S. Treasury prices and lower oil prices have also lifted the investment case for digital assets.

◇ Bitcoin Jumps 10% in a Week

According to CoinMarketCap, Bitcoin was trading at $86,597 as of 9 a.m. on Sept. 22. That was up 6.7% from $81,143 a day earlier. It rose as high as $87,281 at about 5:30 a.m. before easing back into the $85,000 range later in the day. Bitcoin had not reclaimed $85,000 since January, returning to that level for the first time in eight months.