Every investor who watches a four-hour red candle on the BTC/USD pair asks the same question: Can macroeconomics subdue Bitcoin? The Federal Reserve, the European Central Bank, and the Bank of Japan mobilize trillions of dollars with an eight-paragraph statement. Traditional markets fold. Bitcoin, however, introduces a variable that no central bank governor fully controls.

The Taming of Bitcoin: Why Central Banks Cannot Shut It Down, but Can Discipline It