21Shares: Bitcoin is still defending the $84,000-$85,000 support area, but long-term bullish catalysts are forming

2025-03-29 18:09:32

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ChainCatcher news, 21Shares cryptocurrency research strategist Matt Mena stated that U.S. stocks are experiencing volatility amid macroeconomic uncertainty, while BTC has shown resilience in defending the $84,000-$85,000 support area. The Coin Bureau founder Nic Puckrin pointed out that the PCE data to be released this Friday could lead the Federal Reserve to delay its recent rate cut plans, and Bitcoin is not expected to return to its historical highs before the Fed cuts rates again.

Long-term bullish catalysts for the crypto market are forming, one of which is the imminent confirmation of crypto-friendly Paul Atkins as the chairman of the U.S. Securities and Exchange Commission, which could unlock Ethereum ETF staking and approve other digital asset ETFs; additionally, proposed U.S. strategic Bitcoin reserve legislation is expected to be introduced in May. If officially implemented, it would position Bitcoin alongside gold as a sovereign-level asset.

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