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Bitcoin's performance alongside the Nasdaq highlights its growing role in investment portfolios, according to Standard Chartered.
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Bitcoin's performance alongside the Nasdaq highlights its growing role in investment portfolios, according to Standard Chartered.
Assad Jafri 3 min read
Hayes clarified that he views Bitcoin as more likely to rally to $110,000 than to decline to $76,500 in the short term.
Regulatory initiatives and corporate adoption drive Bitcoin's strategic role in finance, despite recent market volatility and ETF outflows.
The Fed will start slowing its quantitative tightening in April 1, reducing Treasury securities from $25 billion to $5 billion.
Heavy ETF outflows suggest institutional support has weakened, and Bitcoin needs renewed interest from long-term holders or institutions.
The USDT market cap increased $5.75 billion in the past 60 days, a move historically associated with price increases for Bitcoin.
The increasing mining difficulty suggests miner capitulation, which could jeopardize the momentum created by whales slowing their Bitcoin realizations.
Despite the whale appetite, market conditions are still uncertain, and investors are advised to remain calm amid positive and negative news.
Bitcoin's performance mirrors major US tech stocks as macro concerns persist and risk assets struggle.