It’s not correlated, because Bitcoin still outperforms any interest rate a bank could offer.

The people that would put their money into the bank for interest(for a loss because it still won’t outperform inflation), will be the people who buy Bitcoin last anyways. So i dont think it influences the demand side that much.

The only effect it would have, is that speculators can’t easily ape into Bitcoin or any other investments with borrowed money. Which would probably favor Bitcoin, because the market would be more hesitant to get into braindead projects or empty hypes. So higher interest rates could actually favor Bitcoin, and for sure won’t hurt it.

And as we saw now, it’s better for Bitcoin if people don’t leverage too much into it. We don’t need actors like celsius bringing down the whole market, because they gamble too much.

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