Why Bitcoin’s price is falling despite strong macro conditions

Bitcoin’s recent slide below $70,000 has puzzled investors who expected strong macro conditions to support higher prices. Interest rates have been falling, liquidity has improved, and traditional markets have pushed toward record highs. Yet Bitcoin has moved in the opposite direction. During a recent interview with TheStreet Roundtable discussion, Jeff Dorman, chief investment officer at Arca, said the disconnect stems from a flawed assumption about what Bitcoin actually represents. Related: Treasury Sec ...