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Recently, the content indicated by the FRB's dot plot has become quite hawkish, and it feels like the overall market's expectations for rate cuts have significantly diminished. In this context, it seems that early Bitcoin holders are starting to move.
The other day, an investor sold over $100 million worth of BTC, which I think is a very symbolic move. The fact that even long-time Bitcoin believers are selling suggests that the worsening interest rate environment is putting considerable pressure on them.
The market's outlook can change greatly depending on the Fed's dot plot, and there may be more large-scale sell-offs like this in the future. In an environment where rate cuts are not expected, Bitcoin's position as a risk asset also becomes more difficult.