#Gray-scale bullish on Bitcoin#
Hot Topic Overview
Overview
Grayscale remains bullish on Bitcoin, with its head of research Zach Pandl saying that the outlook for the price of BTC remains "structurally bullish" despite recent macroeconomic data putting some pressure on the price. He believes that the strengthening dollar is the main reason for the recent decline in Bitcoin prices, while a strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar. However, he also said that this setback could be temporary, and Bitcoin prices could rebound as the US presidential inauguration approaches. Grayscale believes that the outlook for cryptocurrency valuations is structurally bullish.
Ace Hot Topic Analysis
Analysis
Zach Pandl, head of research at GreyScale, recently said that despite near-term headwinds in macroeconomic data, the outlook for Bitcoin prices remains "structurally bullish." He believes that Bitcoin has been recently suppressed by the strengthening dollar, primarily due to the Federal Reserve's more hawkish stance and tariff threats. A strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar and potentially putting near-term pressure on Bitcoin prices. However, Pandl emphasized that this setback could be temporary, as the US presidential inauguration approaches. He still believes that "the outlook for cryptocurrency valuations is structurally bullish," and said that the upcoming US presidential inauguration could be a positive catalyst.
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.