10x Research: If the Bitcoin price remains below the $90,000-$92,000 range, the overall market may still be in a consolidation phase

ChainCatcher news, 10x Research published that despite the Federal Reserve's dovish stance, the Bitcoin market may still face upward resistance in the short term. The research institution pointed out that as long as the Bitcoin price remains below the resistance range of $90,000-$92,000, the overall market may continue to be in a consolidation phase.

The Federal Reserve has lowered its growth expectations and slightly slowed the pace of balance sheet reduction (QT). Fed Chairman Powell emphasized that the recent rise in inflation may be temporary. Although this provides short-term support for risk assets, 10x Research believes that investors may remain cautious ahead of the Trump tariff announcement on April 2 and the start of the U.S. corporate earnings season on April 11. The report also noted that weakened consumer confidence and a deteriorating real estate market could lead to poor performance during the earnings season, and market structure indicators remain sluggish, suggesting that this rebound may struggle to gain significant momentum or push Bitcoin back into a broader bullish sentiment.