André Dragosch, Bitwise’s head of research, argues that Bitcoin generally reflects changes in global liquidity before major economic shifts. His global money supply model places Bitcoin’s current fair value at $197,000. He also discusses rising French bond yields, tightening global financial conditions, recession risks in China and the Federal Reserve’s dilemma. Dragosch further suggests that capital rotating out of precious metals could support Bitcoin and strengthen its role as a global reserve.
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