#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 the strong jobs report that reduced the likelihood of a Fed rate cut, which in turn supported the dollar and suppressed Bitcoin prices, he still believes the price outlook for Bitcoin is "structurally bullish." He believes this pressure may be temporary and that the price of Bitcoin could rebound as the US presidential inauguration approaches. He emphasized that the outlook for cryptocurrency valuations remains optimistic.
Ace Hot Topic Analysis
Analysis
Zach Pandl, head of research at GreyScale, recently said that despite near-term headwinds for macroeconomic data, 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. A recent 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
GrayScale remains bullish on Bitcoin's long-term prospects, believing its valuation outlook is structurally bullish.
In the short term, Bitcoin prices may fluctuate due to the strengthening US dollar and the Fed's policy.
A strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar and potentially putting pressure on Bitcoin prices.
This pressure may be short-lived, and Bitcoin prices could rebound as the US presidential inauguration approaches.