June 26 (Cointime) - In the latest episode of Cointelegraph's Macro Markets, analyst Marcel Pechman discusses how Turkey's recent interest rate hike could attract new cryptocurrency investors, and how China's economic crisis could impact Bitcoin and crypto globally.

Turkey's central bank raised interest rates by 6.5% to 15% in an effort to combat inflation, as the lira has dropped by 80% against the US dollar in five years. Pechman believes that decentralized cryptocurrencies could be the only option for millions of people who cannot save or transact in foreign currencies due to inflation in countries like Turkey and Argentina.

The show also explores how China's economic weakness could affect Bitcoin and how its central bank digital currency could increase demand for cryptocurrencies.