First U.S. Rate Hike in Three Years Looms: What Bitcoin’s 2023 Chart Reveals via @cryptoquant_com The Fed is approaching a decision that could deliver its first rate hike since July 2023, with markets pricing the probability above 90%. But a hike does not automatically mean Bitcoin will fall. The chart compares Bitcoin’s price with short-term holder SOPR around four rate hikes in 2023. STH-SOPR tracks coins held for less than 155 days: above 1 indicates transfers at a profit; below 1 signals losses. Transfers do not always represent sales. Reactions varied. After February’s hike, SOPR dipped below 1. Following March’s increase, it often remained above 1 as BTC climbed into April. Loss-taking became more evident after May’s hike. After July’s increase, SOPR hovered near 1 before plunging during August’s selloff. The time gap means the hike alone cannot explain that decline. This time, guidance on further tightening may matter more than the decision itself. An expected hike could even trigger relief buying if the outlook is less hawkish than feared. Watch whether SOPR stays below 1 alongside falling prices or quickly recovers as BTC stabilizes. The key is whether loss-taking persists and buyers absorb selling pressure—not simply the rate-hike headline. https://t.co/AFYTxmd3Oz’s-2023-Chart-Reveals