Renowned trader: Bitcoin has successively digested interest rate hikes and the setback of the 'CLARITY Act', and the market trend may have shifted.

Renowned trader Killa said the "everything is priced in" chart tracks major catalysts across Bitcoin’s cycles and their post-event price behavior. He noted that during bear markets, negative news typically pushes BTC lower, leading traders to develop an inertia of shorting on any bearish headlines. But once high-timeframe trends shift, the same news may only spark temporary panic, after which Bitcoin absorbs selling pressure and resumes its rally. Recent market events include the Federal Reserve’s interest rate hike, expectations around the CLARITY Act vote, and the bill’s failure to advance. Markets initially viewed these as reasons for Bitcoin to drop further, but BTC only briefly broke below its range low before bouncing back quickly, showing strong resilience. Even as narratives of a "third world war" gained traction, Bitcoin began reacting relatively positively to panic-inducing factors. Killa highlighted this performance as a key distinction between bull and bear markets: in bear markets, bad news drives prices down, while in bull markets, negative headlines may trigger trader capitulation, after which prices continue rising. He added that the key catalyst that confirmed the last cycle’s uptrend was the approval of spot Bitcoin ETFs, and this cycle’s equivalent catalyst could be the CLARITY Act. Bitcoin’s recent ability to digest multiple bearish factors is a key basis for his judgment that the trend has shifted.