GSR's Baehr has highlighted that the sustainability of Bitcoin's recent rally is more closely tied to real interest rates rather than the Consumer Price Index (CPI) headline figures. According to Baehr, real rates, which adjust for inflation, provide a clearer picture of economic conditions that influence Bitcoin's performance. This perspective suggests that investors should focus on the underlying economic indicators that affect real rates, as these have a more direct impact on Bitcoin's market dynamics than headline inflation numbers. The emphasis on real rates underscores the importance of understanding broader economic trends when evaluating Bitcoin's potential for sustained growth.