Bitcoin faces 2022 parallels as Federal Reserve resumes rate increases
Bitcoin’s drawdown mirrors its position before the Fed’s first hike in March 2022, raising questions over whether a relief rally could precede further losses.
Source: CoinDesk
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DW NOTE
The Fed hiked once in March 2022 and Bitcoin fell 50% over the following nine months. The article notes that single hikes are rare — since 1955, the Fed went "one and done" just once across thirteen cycles. Markets are pricing 75 more basis points by March. The relief rally playbook requires the tightening to stop, and nothing suggests it will.