the market conditions and factors that impact the price of Bitcoin can change rapidly and frequently. However, it is true that historically, Bitcoin's price has been affected by a variety of macroeconomic factors, including changes in interest rates and the value of fiat currencies like the US dollar.
If the US Federal Reserve were to increase interest rates, it could potentially impact the value of Bitcoin in a number of ways. Higher interest rates could make other investments, such as bonds, more attractive to investors, which could reduce demand for Bitcoin and other cryptocurrencies. On the other hand, higher interest rates could also lead to a stronger US dollar, which could make Bitcoin and other cryptocurrencies more expensive to buy and potentially reduce demand.
At the same time, it is also possible that Bitcoin is benefiting from a weaker US dollar, as cryptocurrencies are often seen as an alternative store of value to traditional fiat currencies. If the US dollar were to experience a significant decline in value, it could potentially increase demand for Bitcoin and other cryptocurrencies as a hedge against inflation and economic uncertainty.
As for Bitcoin's price holding above $24,000, this can be attributed to a variety of factors, including market sentiment, supply and demand dynamics, and investor activity. It is important to conduct thorough research and exercise caution when making any investment decisions, as cryptocurrency markets can be highly volatile and subject to significant fluctuations in price.