Bitwise Research Head André Dragosch evaluated Bitcoin's fair value at $197,000, analyzing that a future monetary policy shift by the Federal Reserve (Fed) could be a major catalyst for a full-fledged BTC bull market. Dragosch stated, “In the recent movements of the US 10-year Treasury yield, how quickly it rises is more important than the level of the interest rate itself. We consider a rise of approximately 0.8 percentage points in the 10-year yield over 20 trading days as an empirical standard for gauging a risk signal. If Treasury yields surge in a short period, downward pressure on risk assets like stocks could increase, and if market corrections intensify, it could prompt the Fed to change its existing policy direction. If a market correction is followed by a Fed policy shift, the final crucial condition for a full-fledged BTC bull market could be met,” he projected.
