PANews reported on June 10th that, according to CoinDesk, Bitcoin and gold fell in tandem as markets bet on rising interest rates to pressure non-yielding assets. Bitcoin has fallen about 7% this week, while gold has dipped below $4,200 per ounce. The rebound was primarily driven by short covering, with over $500 million in bearish bets liquidated over the past week, while spot demand has yet to return significantly. Traders are focused on Wednesday's US inflation data and the policy stance of new Federal Reserve Chairman Kevin Warsh. High inflation could prompt interest rates to remain high, further pressuring risk assets. The rare simultaneous decline of Bitcoin and gold undermines its case as a macro hedge.