ZachXBT's 'Garbage' Critique: Bitcoin's $65K Macro Dependence and South Korea's Rate Hike Impact

Blockchain investigator ZachXBT heavily criticized hardware wallets, calling them unreliable for transactions. Bitcoin traded steady near $65K after South Korea's rate hike. South Korea's inflation surged to 3.2%, with the BTC/KRW pair hovering around 94.96 million KRW on local exchanges. South Korea's crypto market is known for high speculative activity, while Bitcoin's reliance on macro catalysts was criticized by Bitfinex analysts. CEX trading volumes rose for the first time in five months in June. ZachXBT highlighted Ledger Live updates disrupting wallet functionality.

South Korea's rate hike appears to have limited direct impact on Bitcoin, but macroeconomic conditions will continue influencing crypto markets. Without clear demand signals, Bitcoin's macro-driven rally remains vulnerable.