.RobinBrooksIIF links Bitcoin's recent fall to the Fed's hawkish policy, highlighting its vulnerability as a bubble asset
, Robin Brooks, chief economist at the Institute of International Finance , has drawn attention to the recent decline in Bitcoin value, attributing it to the Federal Reserve's increasingly hawkish stance on monetary policy.
The analyst previously highlighted the apparent lack of unique attributes in Bitcoin's trading behavior, stating that its price fluctuations largely depend on the Fed's monetary policy decisions. The IIF analyst maintained that Bitcoin does not offer a store of value function, diversification benefits, or yield.However, in a surprising turn of events, Bitcoin's value fell when a dovish Fed led to a decrease in 2-year Treasury yields, an outcome that should have theoretically led to a rally in the cryptocurrency's value.
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