Bitcoin is facing a perfect storm of challenges, including a hawkish Federal Reserve, rising interest rates, and a strengthening US dollar.
Source
"Bitcoin Price Defies Gravity, But Why?" — CryptoPotato
This article is Bitcoincryptos' summary and analysis of reporting originally published by CryptoPotato. Read the full original report at the link above.
The combination of these factors should, in theory, send the price of BTC plummeting. Yet, despite these headwinds, the cryptocurrency remains stubbornly above $77,000.
One possible explanation for this resilience is the ongoing influence of institutional investors, who have been pouring money into the market.
BTC · 7D · $64,077−15.3%