Bitcoin holds near $75,000 despite Fed hike and Senate stablecoin bill failure

Bitcoin holds — Bitcoin has demonstrated resilience, holding near the $75,000 level despite a Federal Reserve interest rate increase and the U.S. Senate’s failure to pass a major stablecoin bill.

Market experts view the price stability as evidence of Bitcoin’s fundamental independence from Washington’s political cycles. They maintain that global liquidity and adoption trends remain the primary long-term drivers for the asset.

The Senate’s rejection of the Clarity Act on September 15, which faltered over stablecoin yield and ethics concerns, prolongs statutory uncertainty for the crypto industry. However, investors now expect regulators like the SEC and CFTC to advance rules using their existing authority.

Analysts anticipate near-term range-bound trading for Bitcoin, with a move above $80,000 seen as a potential breakout signal. Conversely, a sustained drop below $75,000 could threaten the recent recovery momentum.