#bitcoin Advantage: How It Stands Out Amidst Rising Interest RatesAccording To This Analyst
👉Bitcoin (BTC) made a notable move on Thursday morning, surging above the crucial $26,000 support level. This rally came on the heels of the release of the US consumer price index (CPI) on Wednesday, which revealed an acceleration in the annual inflation rate for August.
As concerns over rising inflation grip Bitcoin appears to be uniquely positioned to navigate this uncertain.
Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, believes that the alpha coin could thrive in an environment of rising interest rates.
Bitcoin Potential Amid Rising Interest Rates
McGlone’s assessment is based on BTC’s 20-week moving average, which he suggests may have broader implications for all risks
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