BTC’s current trend looks a bit like 2022.
Before the first rate hike in 2022, BTC pulled back about 40% from its $69000 high; 12 days after the rate hike was implemented, it rebounded 18%, and then fell again by about 50%.
Now BTC is down about 40% from its $126000 high as well, and the market is still pricing in a further 75 BP rate hike over the next 6 months.
Whether history will repeat itself is uncertain, but the script of “first a rebound, then a decline” is worth paying attention to.
$BTC $ETH
Before the first rate hike in 2022, BTC pulled back about 40% from its $69000 high; 12 days after the rate hike was implemented, it rebounded 18%, and then fell again by about 50%.
Now BTC is down about 40% from its $126000 high as well, and the market is still pricing in a further 75 BP rate hike over the next 6 months.
Whether history will repeat itself is uncertain, but the script of “first a rebound, then a decline” is worth paying attention to.
$BTC $ETH