#Gray-scale bullish on Bitcoin#
Hot Topic Overview
Overview
Grayscale remains optimistic about the outlook for Bitcoin, with its head of research Zach Pandl arguing that the price outlook remains "structurally bullish" despite recent weak macroeconomic data and pressure from a stronger dollar. He noted that a strong jobs report reduced the likelihood of a Fed rate cut, which in turn supported the dollar, but that this pressure could be temporary and Bitcoin prices could rebound as the US presidential inauguration approaches. Grayscale believes that the outlook for cryptocurrency valuations remains positive.
Ace Hot Topic Analysis
Analysis
Grayscale remains structurally bullish on Bitcoin's outlook, despite recent headwinds from macroeconomic data. Grayscale Head of Research Zach Pandl said that while the strengthening dollar has put pressure on Bitcoin prices, this setback could be temporary, as the upcoming US presidential inauguration could be a positive catalyst. He believes that the stronger dollar is driven by the Fed's more hawkish stance and tariff threats, while a strong jobs report has reduced the likelihood of a Fed rate cut, further supporting the dollar. Despite this, Pandl 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 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.