Bitcoin Attempts Breakthrough: Market Outlook Improves Amid Federal Reserve’s Dovish Stance
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
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Matrixport, in its latest analysis dated March 24th, highlights that Bitcoin is on the cusp of a potential breakout from its prevailing downtrend. This upward momentum is bolstered by a somewhat dovish stance from the Federal Reserve and recent comments from former President Trump, which suggest a shift towards a more targeted tariff strategy. These geopolitical factors, along with an improving economic environment, are creating a more favorable backdrop for the cryptocurrency market.
As the quarter draws to a close, selling pressure from arbitrage funds is diminishing, accompanied by low funding rates that suggest most of the liquidations are nearing their conclusion. Although the present indicators do not imply that Bitcoin is poised to achieve a new all-time high imminently, the overall market sentiment has witnessed a marked enhancement, paving the way for potential growth opportunities in the near future.