Other optimists included Axie Infinity co-founder Jeff “JiHo” Zirlin, who said the Fed slowdown is “great for both crypto and equity markets.”“The Fed has significant leeway to loosen up, providing more support for businesses + markets,” Zirlin said, while Bitcoin venture capitalist Mark Moss said that with QT ending, “the dam is going to break.”Related: Bitcoin risks new 'death cross’ as BTC price tackles $84K resistanceMeanwhile, crypto market sentiment has spiked following the Fed’s comments. The Crypto Fear & Greed Index, which tracks overall sentiment, has moved into “Neutral” territory at 49 after lingering in the “Fear” area since Feb.26.
Despite Bitcoin being down nearly 22% from its January $109,000 all-time highs, Infinex founder Kain Warwick told Cointelegraph that it is a “normal mid-bull correction.”“I would need to see a much larger breakdown to flip bearish,” Warwick said.“My baseline thesis is the four-year cycle holds once again, which means we keep grinding up through the rest of the year.”Magazine: Classic Sega, Atari and Nintendo games get crypto makeovers: Web3 GamerThis article does not contain investment advice or recommendations.
On March 10, Bitcoin (BTC) dipped near the $77,000 level for the first time since November, according to CoinMarketCap data.“Was BTC $77k the bottom, prob,” Hayes said in a March 20 X post after declaring that QT is “basically over” following the Fed’s March 19 announcement that starting in April, it will slow its securities sell-off by reducing the monthly Treasury cap from $25 billion to $5 billion. Bitcoin is up 3.53% over the past seven days.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Ciaran Lyons
The story "$77K likely the Bitcoin bottom as QT is ‘effectively dead’ — Analysts" has 478 words across 14 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "$77K likely the Bitcoin bottom as QT is ‘effectively dead’ — Analysts" was covered 2 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 9 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Positive, indicating that people regard this as "good news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
