Bitcoin’s outlook remains bullish despite macro setback: Grayscale
Bitcoin's price outlook is considered "structurally bullish" despite recent declines due to macroeconomic factors. A strong US jobs report led to a drop in Bitcoin's price below $93,000 as the US dollar strengthened, influenced by hawkish Federal Reserve policies. The probability of an interest rate cut in January is now below 3%. Grayscale's head of research anticipates that the current setback may be temporary, especially with the upcoming US presidential inauguration, which could bring industry-friendly regulatory changes. Predictions for 2025 suggest it could be a record year for crypto, driven by favorable regulations and increased institutional adoption. US Bitcoin ETFs surpassed $100 billion in net assets in November, with expectations of an additional $48 billion inflow in 2025, potentially leading to significant price increases for Bitcoin.
