Bitcoin soars as the Federal Reserve raises the key interest rate by 75 basis points.
'soars'...?!?
ZOOM OUT YOUR CHART VIEW
you have your price chart zoomed in too much that small changes look large.
ZOOM OUT YOUR CHART VIEW
in the big scheme of market prices in the last 2 years. todays/this weeks changes are not "soaring"
you will find that speculation is a great, fun, and unpredictable game
when interest rates go down. 3 paths may result
+people use low interest rate loans to invest in bitcoin and raise the price with all those buys
+people get less bank account rewards(interest) they buy bitcoin to get more returns in the long run
-low interest loans = higher qualifying requirements = not qualifying thus sell btc to get spare cash they cant get via loans
when interest rates go up 3 paths may result
- people avoid loans and sell BTC to get cash
+people get more bank account rewards(interest) the invest less in other assets because bank balance is insured
+high interest loans = lower qualifying requirement = more loans and less need to sell btc. as btc hedges against loans