Chair

Bitcoin

Reserve

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/could-bitcoin-bounce-back-soon" data-wpel-link="internal">Could Bitcoin Bounce Back Soon?</a><br></p>
<p style="text-align: justify">According to Jan Happel and Yann Allemann, co-founders of the crypto analysis platform Glassnode, recent Federal Reserve policies have negatively impacted <a href="https://en.bitcoinhaber.net/corporate-demand-for-bitcoin-surges-dramatically" data-wpel-link="internal">Bitcoin</a> prices. However, they predict a possible rebound for <a href="https://en.bitcoinhaber.net/analyst-projects-bitcoins-upcoming-surge" data-wpel-link="internal">BTC</a> due to anticipated interest rate adjustments. Their insights, shared on social media platform X, suggest that Bitcoin’s recent drop below the $100,000 mark is linked to the Fed’s expected monetary strategies for the coming year.</p> 
<h2 style="text-align: justify" id="how-are-fed-policies-affecting-bitcoin">How Are Fed Policies Affecting Bitcoin?</h2> 
<p style="text-align: justify">The duo points out that a key metric measuring net position changes indicates an encouraging trend. This metric shows a decline in Bitcoin held on exchanges, which they believe positively influences the market.</p> 
<p style="text-align: justify">Happel and Allemann noted that Fed Chair Jerome Powell’s firm stance contributed to Bitcoin’s decline, but they hold optimism for a quick recovery to the $100,000 level. They also reported record levels of Bitcoin withdrawals from exchanges, highlighting an ongoing accumulation phase that could bolster recovery prospects.</p> 
<h2 style="text-align: justify" id="is-bitcoin-dominance-at-a-turning-point">Is Bitcoin Dominance at a Turning Point?</h2> 
<p style="text-align: justify">The founders emphasized the significance of Bitcoin’s Dominance Rate (BTC.D), currently at 58.44%, in determining the performance of altcoins relative to Bitcoin. A rise in BTC.D could signify a rally focused on Bitcoin, whereas a decline may pave the way for altcoin gains.</p> 
<ul> 
 <li>Record-high Bitcoin withdrawal rates from exchanges indicate strong accumulation.</li> 
 <li>Current market metrics suggest Bitcoin may be on the verge of recovery.</li> 
 <li>Traders are advised to stay vigilant due to ongoing market volatility.</li> 
</ul> 
<p style="text-align: justify">As of now, Bitcoin is trading around $96,450, reflecting a 5.2% decrease in value over the past day. Experts insist that the notable outflow of Bitcoin from exchanges is likely to have a positive impact on its future outlook.</p> 
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/could-bitcoin-bounce-back-soon" data-wpel-link="internal">Could Bitcoin Bounce Back Soon?</a></h5>

Could Bitcoin Bounce Back Soon?

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