As I was updating the Interest Rates indicator, one thing that caught my eye was the negative correlation with bitcoin price.
Increasing rates make "currencies" more expensive. After the increases, Bitcoin price was making great gains.
Decreases in interest rates make "currencies" cheaper. After the decreases, not long after, the rally started.
I don't know if there is a correlation but there might be. Interest Rates used to be a key indicator in the currency markets. Since Bitcoin is denominated in US Dollars, it would make some sense.
Good observation. Interest rates are the cost of money so it makes sense that as dollars become cheaper, the things they are priced against become more expensive.