Hello readers,

BTC continues to hover below our “fair value” target ($65k), now nearly 10 months into the latest bear market.

We believe seller exhaustion is nearly complete.

At the same time, the market is now pricing two rate hikes this year.

What does that mean for markets?

And what is the ultimate path for BTC and the demand side of the equation?

We explore in this week’s edition of TDR Pro.

Let’s go.

Why the Fed has to Hike Rates