Bitwise: Bitcoin faces macro resistance while on-chain positives coexist, expected to outperform traditional assets in 2025 and beyond
ChainCatcher news, Bitwise released the Bitcoin Macro Investor Report for January 2025, indicating that the crypto market will face macro headwinds such as profit-taking and reduced institutional exposure in December 2024. The appreciation of the dollar and adjustments in Federal Reserve policy have led to a tightening financial environment, but Bitcoin still receives support from on-chain data.Despite short-term risks, long-term favorable factors such as the Bitcoin halving and strategic reserves support expectations for significant price appreciation, with projections that it will outperform traditional assets in 2025 and beyond. Although the Federal Reserve's December meeting resulted in a 25 basis point rate cut, it hinted that future rates may be higher than expected. The decline in global liquidity and the strengthening dollar pose pressure on Bitcoin, which remains correlated with traditional markets like the S&P 500.On the on-chain front, demand from ETFs, corporate treasuries, and retail investors has created a supply gap for Bitcoin. While some on-chain activities have cooled, key indicators such as declining exchange balances and rising hash rates show that market resilience remains strong.