BITCOIN RALLY REVIVES “DEBASEMENT TRADE” Bitcoin’s rally toward $86,000 reflects renewed demand for an anti-fiat hedge, according to Capital. com’s Kyle Rodda. Rodda links the move to Scott Bessent’s intervention in Treasury markets, arguing Bitcoin is increasingly trading as a hedge against expansive U.S. policy and a portfolio diversifier. He says the outlook is improving and the cycle lows may have already passed.(彭博社)