#Gray-scale bullish on Bitcoin#
Hot Topic Overview
Overview
The outlook for Bitcoin remains positive, with its research head Zach Pandl believing that the price outlook is still "structurally bullish" despite recent macroeconomic headwinds. He pointed out that Bitcoin prices have been suppressed by the strong dollar, while a strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar and potentially putting temporary pressure on Bitcoin prices. However, Pandl believes that this setback could be short-lived, with Bitcoin prices potentially seeing a positive catalyst as the US presidential inauguration approaches. He still believes that "the outlook for cryptocurrency valuations is structurally bullish."
Ace Hot Topic Analysis
Analysis
Grayscale remains structurally bullish on Bitcoin's outlook, despite recent macroeconomic data putting some pressure on the market. Zach Pandl, Head of Research at Grayscale, believes that Bitcoin prices are being held back by the strengthening dollar, which is rising due to the Federal Reserve's more hawkish stance and tariff threats. The recent strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar and potentially putting temporary pressure on Bitcoin prices. However, Pandl still believes this setback could be short-lived and says the outlook for Bitcoin remains positive as the US presidential inauguration approaches. He emphasizes that despite some near-term challenges, the outlook for cryptocurrency valuations is structurally bullish.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Despite macroeconomic data facing headwinds for now, the Bitcoin price outlook remains "structurally bullish",
Bitcoin appears to be held back by the strengthening US dollar, which is rising due to the Fed's more hawkish stance and tariff threats.
The upcoming US presidential inauguration could be a positive catalyst.
A strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar and potentially putting pressure on Bitcoin prices for now.