3 Reasons Crypto Is Still Holding Strong After the Fed Rate Hike

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.The Fed hiked, the CLARITY Act died, and crypto barely moved. Here are three reasons the market is consolidating rather than breaking down.This week was supposed to be the one that ended the rally. The Senate killed the crypto industry's biggest legislative push in years on Tuesday. The Federal Reserve raised interest rates for the first time since 2023 on Wednesday. Two catalysts, 24 hours apart, both pointing down.$Bitcoin is trading near $77,900 as of Friday, after a previous close of $76,559 and a day range between $76,289 and $78,051. It gave up ground, took it back, and is now sitting almost exactly where it started the week. That is not weakness. That is consolidation, and there are three solid reasons behind it.BTC chart in USDWhat Is Actually Happening in the Crypto Market Right Now?Over the past 30 days Bitcoin is up 20.5%, having run from roughly $64,000 in mid-August to the high $70,000s, with an average price of $77,286 across the period. August alone delivered a 25...