#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 the market, 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. 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. He still believes that the outlook for cryptocurrency valuations is structurally bullish.
Ace Hot Topic Analysis
Analysis
Zach Pandl, head of research at GreyScale, believes that the outlook for Bitcoin remains "structurally bullish" despite recent macroeconomic data putting some pressure on the price. He points out that Bitcoin prices have been held back by a 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 temporary pressure on Bitcoin prices. However, Pandl believes this setback could be short-lived, and the outlook for Bitcoin prices will recover 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 appears to be held back by a strengthening 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 the Bitcoin price.
This setback could be short-lived as the US presidential inauguration approaches.