ROLLUP: The Bull Market Test | Clarity Dies | SEC Opens the Door | Hyperliquid Comes Onshore
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Why are crypto prices rising despite the Fed rate hike and the collapse of the Clarity Act?
Bankless Nation, it is the third week of September. It is bullish. Once again, Clarity died, but all the crypto prices are higher. Just 21 hours later, after Clarity dies, the SEC ships the Innovation Exemption, a legal lane for tokenized stocks, effective immediately. So crypto lost. But we're winning. We still are winning. The tokens are up. We're getting what we wanted. It is a bullish season in crypto.
It was actually double bearish news last week for crypto and yet prices are up ish. The Fed also hiked. This is the first time since twenty twenty two. Fed chair Warsh moved the rates up. My question coming to this week was how mad was Trump about this? We'll talk about that. Also, David, you think options might be the next big thing in DeFi? I want you to tell us why.
Potentially, yes. And then Kraken is bringing hyperliquid to America via a compliant front end for hyper hyperliquid on shore. Basically, hyperliquid with a CFTC license in front of it. Is this how perps make it onshore in the United States? That and so much more to talk about. But I think, Ryan, I think the way to summarize the last week in crypto is just. Very strong confirmation isn't of a bull market. And the reason why is that good news is making prices go up and bad news is not mattering. And then we saw this in the two things we talked about. The we had the rate hike, we had the clarity failing. Prices are either flat or higher than both of those the events prior. And so this is just a telltale sign of the bull market is that
What specific bull‑market signals are emerging for Bitcoin, Zcash and other altcoins?
that we are the market is sensitive to good news and it is insensitive to bad news. And I think that that is just m even further confirmation that we are in the earliest innings of a bull market.
Well, Eric Connor, crypto investor, agrees with you, David. This was his tweet. Kind of nice to flush the double bad news of no clarity and rate hike in the same day, to be honest. Yeah, I think I see that, especially clarity. Although one might argue to push on that a little bit, both were kind of priced in. I mean, who in crypto actually thought clarity would pass? And then as to rate hikes, I mean, there was good there was the market was was expecting rate hikes to actually increase. And so maybe no surprise there. It's not like QQQ or SP took a nosedive on the back of this news. There is a price band that uh TDR, Michael NATO is watching for confirmation of the early bull market. And he's got two numbers here.
Basically, if we stay trading in these two numbers, he feels like we are pretty close to confirming the crypto bull market. And this is Bitcoin price numbers. So the number you like this, David, sixty nine point nine K. All right. Nice. Nice. So if we stay from sixty nine point nine K to eighty point four K, we stay in that band. We should be good to go. Both those numbers represent moving averages. So 69.9K, that's the 200-day moving average. And the 80K number, that's the 50 week. We stay in that band. We're still undecided. It's not breaking bearish. If we go up higher and we start. breaking the um the 50 week in a decisive direction and we sustain that over multiple weeks.
How is the Fed’s latest rate‑hike affecting crypto risk‑on assets versus risk‑off assets?
He thinks from a price momentum perspective, that's kind of early bull market confirmed. So we're in this middle period of like, we don't know yet.
Oh, interesting. Okay. So he is saying that so long as we don't go down, we are allowed to be bullish. And then he's waiting and patiently waiting for us to break through eighty point four thousand dollars on Bitcoin to confirm a bull market. But he's saying that like w if we hold, it's still bullish.
He's saying if we hold and we don't break down, then the probability points that the low was in on June thirtieth of this year and we're not going to lower lows.
I see. I did invite uh Ben Cowan on the podcast for when he gets back from New Zealand because I want to ask him this exact same question. It's like we bounced off the 200 week. Bitcoin bounced off the 200 week. It does that all the time in bear markets. Sometimes it does it twice. And if it does it a second time, that means we are going down to, you know, the the high 60s, I believe, 65,000, 66,000.
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Chapters
8 chapters
1
Why are crypto prices rising despite the Fed rate hike and the collapse of the Clarity Act?
0:04–1:46
2
What specific bull‑market signals are emerging for Bitcoin, Zcash and other altcoins?
1:46–3:38
3
How is the Fed’s latest rate‑hike affecting crypto risk‑on assets versus risk‑off assets?
3:38–5:30
4
Why did the Clarity Act fail and what role did politics play in its defeat?
5:30–7:28
5
What new SEC “Innovation Exemption” does the SEC plan for tokenized stocks and how will it work?
7:28–9:40
6
How will the SEC’s tokenized‑stock exemption change the on‑chain trading landscape for DEXs like Uniswap?
9:40–10:59
7
Why are crypto options expected to be the next big meta and how do they differ from perpetuals?
10:59–12:36
8
How is Hyperliquid bringing on‑chain perpetual futures to the U.S. via Kraken’s compliant front‑end?
12:36–53:06
Speakers
3 identifiedMore from Bankless
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