Golden Finance reported that BlackRock, the largest issuer of Bitcoin ETFs, warned that an unprecedented situation is taking place that may hit Bitcoin prices and the cryptocurrency market. BlackRock analysts said that central banks are forced to keep interest rates higher than pre-pandemic levels to cope with continued inflationary pressures. Due to supply constraints, the new macroeconomic system is characterized by rising inflation, rising interest rates, and slowing growth, and this chaotic situation will continue for a long time. At the beginning of the month, U.S. Treasury Secretary Yellen pointed out that the Federal Reserve has kept interest rates at a high level for a long time, which has increased the difficulty of the U.S. Treasury Department to control deficits and interest expenditures, and may lead to the collapse of Bitcoin and other cryptocurrencies. The price trend of Bitcoin directly reflects the market's attitude towards this warning. Since hitting today's high of $71,907 on June 7, the price of Bitcoin has fallen by about 10% in total.
