Bitcoin Defies Bearish Macro Pressures to Reach $87K

During the week of September 14-18, Bitcoin faced significant headwinds, including the failure of the CLARITY Act in the U.S. Senate and a 0.25 percentage point interest rate hike by the Federal Reserve. Despite dropping toward $75,000, the asset rebounded by 16% to reach $87,000. The recovery was fueled by a short squeeze, which liquidated over $400 million in short positions as the market defied expectations of a downturn.