Today is FED Day. Get ready. Jerome Powell has NOT been confirmed yet by the legislative branch and they know they must be hawkish on inflation. There is no hiding anymore. It's right there in the meat department. They aren't even displaying price signs on our meat section anymore cause all the prices are up +50%.
Bitcoin is NOT an inflation hedge. It has gone up because financial conditions have been unlimited and easy and real rates have been 0 if not negative. This will NOT be the case going forward. At least let us hope this will not be the case going forward... it's either crash markets and inflation or load up on ammunition and get ready for the fall.
Keep in mind it is tax season so there can still be a rally back up to the 40-46k range in the next month or so. But longterm Bitcoin conditions are not favorable.