Bitcoin mirrors 2022 script as Fed resumes rate hikes
- —BTC's drawdown mirrors the dynamics before the Fed's first rate hike in March 2022
- —The Fed has resumed its rate hike cycle, pressuring risk assets
- —Analysts allow for a short-term bounce before possible further losses
Why it matters: If the 2022 parallel holds, bitcoin's bounce may prove temporary before a new leg lower.
Source: CoinDesk