Summary
Bitcoin’s price has risen above $43,000, resulting in the liquidation of over $66 million in leveraged cryptocurrency positions. The anticipated halving in April and the potential rate-cutting cycle by the Federal Reserve in May are expected to impact Bitcoin’s price. However, macroeconomic conditions could dampen the effect of the halving, and the anticipated rate cut may be delayed. The market sentiment and capital inflow to risky assets are expected to be limited until the middle of this year.
Key Points
1. The price of bitcoin has rallied back above the $43,000 mark, resulting in the liquidation of over $66 million in leveraged cryptocurrency positions.
2. The anticipated halving of bitcoin in April and the potential commencement of the Federal Reserve’s rate-cutting cycle in May are two significant plot points in the BTC narrative.
3. The impact of the halving event may be dampened by tightening macroeconomic conditions, according to YouHodler Chief of Markets Ruslan Lienkha. Additionally, the anticipated Fed rate cut may be delayed as market sentiment changes quickly driven by investors’ emotions.