BTC, Will Begin Rebound Following Macroeconomic Factors
Predicts Resistance After Reaching $90,000... "Lack of Catalyst"
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On the 24th, Thielen released a report stating that Bitcoin has already transitioned to a strong trend by surpassing $85,200 as of the 21st and will soon attempt to rebound to $90,000.
The key events Thielen cited for Bitcoin's rebound are ▲Trump's softening of trade war ▲Federal Reserve's hint of interest rate cuts.
Thielen said, "On April 2nd, Trump will find a breakthrough by showing a flexible attitude towards mutual tariffs" and "The Federal Reserve has laid the groundwork for interest rate cuts through the monetary policy statement released after the Federal Open Market Committee (FOMC)."
He emphasized that "Jerome Powell's dovish tone will be a great support for Bitcoin's recovery."
Particularly, Thielen noted through graph analysis that Bitcoin has already reached the level of resuming an upward market. He stated, "Bitcoin's graph has returned to an upward trend reminiscent of September 2023 and August 2024."
Indeed, Bitcoin began rebounding after the FOMC monetary policy announcement on the 20th, rising about 6% to record $87,000.
Thielen explained that Bitcoin would face significant resistance upon reaching $90,000 and might find it difficult to record above that level. He wrote, "Currently, there is no clear catalyst for Bitcoin to record a rally above $90,000."
As of 12:30 PM on the 24th, Bitcoin was recording $86,282 on CoinMarketCap.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
