It’s been 140 days since BTC made its previous low, meanwhile we had the FED raising rates at 75bps for FOUR TIMES.

It now has been 140 days since Bitcoin had made its current low of this bear cycle of $17.6k, since then we had a lot of fear mongering about wars, inflation, even a possible new health emergency (yeah monkeypox…) and FEDs hawkish stance. The latter has been the key to drive the markets as we saw a few days back. But many may not have realized that in those 140 days, where BTC did not make a new bottom, we had a whole four rate hikes and each of a massive 75bps.

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BTC weekly chart

As we can see during the first two we were even in a bear-market-rally like situation. It is also surprising that stock markets actually made a lower low during that period of four rate hikes, also did a few other asset-classes. So why did BTC and actually of all of crypto hold it off relatively well?

There is a short answer to this and an eternally-long one. The short one is: Well crypto is not the stock markets so economical events wont be the big driver here but mass adoption or technological updates will. But it’s just not as simple as crypto has been seen to indeed care about more stock market topics like the CPI data, FED and just today the unemployment rates. Over all obviously we still have a correlation to stock markets even if it has declined.

To end it here, Crypto is showing that its not just a copy of the stock market, as we in comparison hold off pretty well against a 3% rate hikes in 140 days, but Crypto is also about its own principles and having a lot of mass adoption even in a bear market is surely a good one.

My two sats.