BlackRock, the largest issuer of bitcoin ETFs, has warned that an unprecedented situation is taking place that could hit the price of bitcoin and the cryptocurrency market. BlackRock analysts say central banks have been forced to keep interest rates higher than they were before the pandemic in response to persistent inflationary pressures. The new macroeconomic regime, characterized by higher inflation, higher interest rates and slower growth due to supply constraints, will persist for an extended period of time.
Earlier this month, US Treasury Secretary Janet Yellen pointed out that the Federal Reserve's long-term high interest rate level has made it more difficult for the US Treasury to control deficits and interest payments, and may lead to the collapse of bitcoin and other cryptocurrencies. Bitcoin price movements directly reflect the market's attitude to this warning. Bitcoin prices have fallen by about 10% since hitting today's high of $71,907 on June 7
BlackRock: Long-term high interest rates could hit bitcoin prices and the cryptocurrency market
2024-06-20 07:08:11
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