If you are aware of the current macro-economic events, it's debatable. The Fed in the U.S. continues to fight inflation by lowering demand through quantitative tightening, raising interest rates, and contracting the balance sheet. In the E.U., it has been recently recorded that its inflation is also high at 8.1%, and would also need their own QT, own raising of interest rates, and contraction of the balance sheet to lower demand. There will not be a "soft landing", but a hard one, forcing a recession.
I believe that with the high interest rate, people do invest into savings accounts in the banks, which mean that they will get a better return, but anyone who knows economics will still stay away from that because they know that what you get from the bank savings account interest rate will usually be lower than the inflation rate, so finding something else that will make a lot more money will matter.
If you want to protect your money losing value against inflation then you need to invest accordingly. Hence, all that FED rates and EU repeating the action will mean nothing to the people who know how to invest, and those people will increase the bitcoin price.
