Bitcoin Maintains Bullish Outlook Despite Temporary Macro Setback

user avatar

by Giorgi Kostiuk

2 years ago

Despite temporary setbacks due to macroeconomic data, Bitcoin maintains a structurally bullish forecast, says Grayscale's head of research Zach Pandl.

Macroeconomic Factors and Bitcoin Impact

On January 10, a positive US jobs report sent BTC's spot price tumbling below $93,000 as the US dollar strengthened amid expectations of slower rate cuts. Zach Pandl noted that the strength of the dollar, fueled by more hawkish Fed policy and the threat of tariffs, is applying temporary pressure on Bitcoin's price.

Today's strong jobs report reduces the chances of Fed rate cuts, further supports the dollar, and may weigh on the price of Bitcoin temporarily.Zach Pandl

Positive Forecasts for Cryptocurrencies

Despite the current downturn, Zach Pandl maintains a positive outlook for crypto valuations. He believes the current setbacks may be short-lived with the upcoming US Presidential inauguration.

Future Regulatory Environment and Its Impact

With Donald Trump's victory in the US presidential elections, there is hope for a more favorable regulatory environment for the cryptocurrency industry, which in turn, could lead to a surge in institutional interest. This growth is expected to support institutional investments, potentially causing positive 'demand shocks' for Bitcoin in 2025, according to Sygnum Bank.

In conclusion, despite temporary macroeconomic challenges, Bitcoin continues to show long-term growth potential due to likely improvements in regulation and increased institutional interest.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.