#Gray-scale bullish on Bitcoin#
Hot Topic Overview
Overview
Grayscale remains structurally bullish on Bitcoin's outlook, with its Head of Research Zach Pandl arguing that the price outlook for Bitcoin remains bullish despite recent macroeconomic headwinds, such as the strengthening dollar. He noted that 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, this setback could be short-lived as the US presidential inauguration approaches. Grayscale believes that the outlook for cryptocurrency valuations is structurally bullish and expects positive catalysts from the US presidential inauguration.
Ace Hot Topic Analysis
Analysis
Grayscale remains structurally bullish on Bitcoin's prospects, despite some recent headwinds from macroeconomic data. Zach Pandl, head of research at Grayscale, believes 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 recent 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 still believes this setback could be short-lived and says that Bitcoin's outlook remains positive as the US presidential inauguration approaches. He emphasizes 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.