Bitcoin is currently trading around $83,850, having surged past its May local high, defying classical macroeconomic models and surprising analyst Benjamin Cowen. Cowen, founder of Into The Cryptoverse, admitted his bearish bet was wrong, as Bitcoin has so far ignored rising energy prices, hawkish Fed policy, and surging U.S. Treasury yields. He emphasizes that the upcoming weekly close is critical: a close above the May peak would decisively break the bearish structure, while a fade in momentum could signal a false breakout amid rising interest rates and a supply shock.