The drawdown in bonds is not much less than bitcoin’s drawdown from its all-time high. Legacy finance is demonstrating to be just as volatile as bitcoin.
The Consumer Price Index hit an elevated rate of 8.5%. The addressable market for an immutable asset like bitcoin with its limited supply is above $100 trillion.
Rising interest rates may seem bullish for the bitcoin price, but a credit market unwind and hawkish central bank means a market selloff in the short term.