Bitcoin Macro Risk Returns as Three Central Banks Tighten at Once

Bitcoin macro risk is back in an unusually familiar form: three major central banks are moving toward tighter monetary policy at nearly the same time.The European Central Bank has already raised rates. The Federal Reserve is due to make its decision Wednesday, while the Bank of Japan follows Friday. The concern for Bitcoin is less about any single hike than about what happens when borrowed money suddenly becomes more expensive across markets.The last comparable episode came in 2006. And the asse