From March 2022, the US central bank aggressively raised interest rates to control inflation. Meanwhile, American consumers are starting to feel the pain of both interest rate increases and inflation more and more clearly. The chart below shows that the number of defaults on credit card debt (blue line) and car purchase loans (green line) are currently skyrocketing.
We also see the same thing happening cautiously for mortgages (yellow line). What does this development mean for bitcoin (BTC)?