Bitcoin's price trend shows a complex relationship with global interest rates. Historically, low interest rates, as seen in 2020-2021, coincided with Bitcoin rallies, driven by increased liquidity and risk-on sentiment. For instance, Bitcoin surged to $64,895 in April 2021 amid near-zero rates. Conversely, rapid rate hikes in 2022 correlated with price drops, pushing Bitcoin below $20,000. Recent data suggests a negative correlation with rising rates, as higher yields favor fixed-income assets over speculative ones like Bitcoin. However, Bitcoin's correlation with global M2 money supply remains strong, often overshadowing interest rate impacts. While rate cuts, like the U.S. Federal Reserve’s in September 2024, boosted Bitcoin to $64,000, idiosyncratic factors like halving cycles and institutional adoption also drive prices. Thus, while interest rates influence Bitcoin, their correlation is not consistently high, with liquidity and market sentiment playing significant roles.