#Gray-scale bullish on Bitcoin#
Hot Topic Overview
Overview
Zach Pandl, head of research at GreyScale, recently said that while recent macroeconomic data has put some pressure on the price of Bitcoin, such as a strong jobs report that reduced the likelihood of a Fed rate cut, leading to a stronger dollar, the outlook for Bitcoin prices remains "structurally bullish." He believes that this pressure may be temporary and that Bitcoin prices could rebound as the US presidential inauguration approaches. Pandl added that he still believes "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, which has been driven by 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 believes this setback could be temporary, and Bitcoin prices could 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
Gray-scale research director Zach Pandl believes that the outlook for Bitcoin prices remains structurally bullish.
The recent strengthening of the US dollar has suppressed Bitcoin price gains.
The main reason is the Federal Reserve's more hawkish policy and tariff threats.
A strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar.
This could temporarily put pressure on Bitcoin prices.
This setback could be short-lived, with Bitcoin prices expected to rebound as the US presidential inauguration approaches.