Analysis: Bitcoin Mirrors 2022 Playbook, Warns of Rebound Before Further Decline

PANews, September 18 - According to CoinDesk, the Federal Reserve raised interest rates by 25 basis points on September 16, with markets pricing in a potential additional 75 basis points of hikes over the next six months. Bitcoin is currently down about 40% from its October high of approximately $126,000, similar to the 40% decline from the November 2021 high of around $69,000 seen at the time of the first rate hike in March 2022. Following the March 2022 rate hike, Bitcoin rebounded about 18% within 12 days before falling a further 50%, suggesting a potential "rebound-then-decline" risk in the current trend, though the reference from a single historical cycle is limited.