Bitcoin came under pressure after the U.S. Senate failed to advance the CLARITY Act, the Fed delivered its first rate increase in more than three years, and the Bank of Japan raised rates to a 31-year high. The developments followed the release of U.S. CPI data and the Federal Open Market Committee (FOMC), the Fed’s rate-setting committee, meeting. Investors had been watching all three events, alongside central-bank policy, for signals affecting BTC. Each event has now passed, and none produced a favorable outcome for the cryptocurrency.