Summary
Bitcoin price dropped to $65,000 due to macro outlook on interest rates and rising Treasury yields, reducing investor appetite for risk.
Key Points
1. Bitcoin’s price retraced down to $65,000 due to the recent macro outlook on interest rates and rising Treasury yields.
2. Higher interest rate environments tend to reduce investor appetite for risk, impacting the price of Bitcoin.
3. Semir Gabeljic, director of capital formation at Pythagoras Investments, highlighted the connection between interest rates and Bitcoin’s price movement.