McDonald's McRib relaunch revives Bitcoin market meme

McDonald's is bringing back its limited-time McRib sandwich to select United States restaurants starting October 27. The seasonal return has reignited the ‘McRib Indicator,’ an internet theory and meme among cryptocurrency enthusiasts suggesting that the sandwich's reappearance on menus often precedes a rally in Bitcoin's price.

While some traders point to past instances where Bitcoin price increases coincided with the sandwich's return, market analysts and researchers argue there is no causal link or correlation. Experts from firms such as CoinShares and GSR describe the connection as a “funny coincidence” and note that believers often overlook instances where the McRib's return was followed by market declines. Analysts suggest that actual market drivers, such as Federal Reserve decisions, are more significant factors for cryptocurrency price movements than fast-food availability.