Bitcoin Trends Resemble 2022 Rate Hike Pattern

On September 16, the Federal Reserve raised interest rates by 25 basis points, with the market expecting an additional 75 basis points increase over the next six months. Bitcoin has currently retreated about 40% from its high of approximately $126,000 in October, similar to the 40% drop observed when rates were first raised in March 2022 from a high of about $69,000 in November 2021. After the rate hike in March 2022, Bitcoin rebounded approximately 18% within 12 days, followed by a further decline of about 50%. The current trend may carry a similar risk of 'initial rebound followed by decline', but the reference provided by a single historical cycle is limited.

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