[Bitcoin Stabilizes Around $75,000, Long Positions Liquidated for $571 Million]
After the Federal Reserve raised interest rates and the Senate rejected the Clarity Act, Bitcoin stabilized around $75,000. Within 24 hours following the Senate vote, $571 million worth of long positions in the cryptocurrency market were liquidated. Coinbase and Circle shares initially dropped by 10% before rebounding. Analyst Ilya Kalchev stated that Bitcoin is likely to continue range-bound movement in the short term, with a breakout above $80,000 opening up upward potential, while a drop below $75,000 would challenge the recovery trend. (Source: CoinDesk)
