Bitcoin price analysis: BTC faces new headwind from rising rate hike odds
Rising rate hike bets and crumbling bond markets pose a new challenge for Bitcoin, despite its recent resilience.Summary
Bitcoin faces a new headwind as expectations for Federal Reserve rate hikes increase due to persistent inflation and surging oil prices. The probability of a rate hike in April has risen to 12%, a significant reversal from previous expectations of rate cuts. Bond yields are also increasing globally, with the 10-year U.S. Treasury note reaching 4.38%. Despite this, Bitcoin has shown relative strength, acting as a 'canary in the coal mine' by already pricing in a potential recession, while traditional assets lag. Bitcoin continues to trade around $70,000 and remains one of the better-performing assets since the start of the recent geopolitical tensions. Coinbase is also expanding its offerings with perpetual stock futures contracts for non-U.S. customers.
(Source：CoinDesk)