#Gray-scale bullish on Bitcoin#
Hot Topic Overview
Overview
Zach Pandl, head of research at GreyScale, recently said that despite recent macroeconomic data putting pressure on Bitcoin prices, the outlook for Bitcoin prices remains "structurally bullish." He believes that Bitcoin prices are being held back by a strong dollar, which is rising due to the Federal Reserve's more hawkish stance and tariff threats. While a strong jobs report has reduced the likelihood of a Fed rate cut and may temporarily put pressure on Bitcoin prices, this setback could be short-lived as the US presidential inauguration approaches. Pandl still believes that "the outlook for cryptocurrency valuations is structurally bullish."
Ace Hot Topic Analysis
Analysis
Zach Pandl, head of research at GreyScale, said that while recent macroeconomic data has put some pressure on the price of Bitcoin, the outlook for Bitcoin remains "structurally bullish." He believes that the price of Bitcoin has been held back by the strength of the US dollar, which has risen 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 temporary pressure on the price of Bitcoin. However, Pandl believes this setback could be short-lived, with the price of Bitcoin poised to rebound as the US presidential inauguration approaches. He still believes that "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 price is being held back by a strengthening US dollar, which is rising due to the Fed'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 temporary pressure on Bitcoin prices.
This setback could be short-lived as the US presidential inauguration approaches.