#Gray-scale bullish on Bitcoin#
Hot Topic Overview
Overview
Grayscale remains bullish on Bitcoin, with its head of research Zach Pandl arguing that the price outlook for Bitcoin remains "structurally bullish" despite recent headwinds from macroeconomic data and a strong dollar putting pressure on the price. He believes this pressure may be temporary and that Bitcoin could rebound as the US presidential inauguration approaches. Grayscale believes the overall valuation outlook for cryptocurrencies is 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 strength of the US dollar, as the Federal Reserve's more hawkish stance and tariff threats have led to a rise in the dollar. 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 still believes this setback could be temporary, as the upcoming US presidential inauguration could be a positive catalyst. He added that he still believes "the outlook for crypto 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.