Bitcoin, interest rate effects, Macro events since 2021 - UPDATEThere is one very simple takeaway for me from this chart and that is simply that raises and Lowering of interest rates had Very little Effect on Bitcoin
It is more the effect it had on other organisations and the sentiment that followed Bitcoin and the traders.
For instance, From Jan 2023, when we saw Bitcoin begin its recovery, interest rates continued to rise.....and had NO effect on the Bitcoin recovery
And I think this continues to this day.
After the First push higher by Bitcoin in 2023, PA went into a Long range...in this time, interest rates began remaining at a static level. Bitcoin did not rise because of this.
When BTC was ready, it made a push higher again, interest rates were static and remained so while BTC entered another long range in 2024
It could be said that BTC PA rose once Rates were reduced but PA leveled out again even while the next rates decision was to reduce.
Bitcoin has its own agenda, it is NOT dependant on the USA to control its choices
On Each range, the MACD on the weekly timef rames was OVERBOUGHT.
And it is currently resetting having been overbought again.
This s NOTHING to do with interest rates.
MACRO events do have an impact though and we need to pay attention this this
But over all, Bitcoin is GOOD, BULLISH and getting ready for its next push
Have a Nice day now
