Bitcoin Shows Resilience Amid Market Volatility

According to Odaily, 21Shares cryptocurrency research strategist Matt Mena noted that while U.S. stocks experience fluctuations due to macroeconomic uncertainties, Bitcoin has demonstrated resilience, maintaining its support in the $84,000 to $85,000 range. Coin Bureau founder Nic Puckrin highlighted that the Personal Consumption Expenditures (PCE) data, set to be released this Friday, might lead the Federal Reserve to delay its planned interest rate cuts. Puckrin suggested that Bitcoin is unlikely to reach its previous all-time highs before the Federal Reserve resumes rate cuts. Long-term positive catalysts for the cryptocurrency market are emerging. One such catalyst is the anticipated confirmation of crypto-friendly Paul Atkins as the chairman of the U.S. Securities and Exchange Commission, which could potentially 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 enacted, this legislation would position Bitcoin alongside gold as a sovereign-level asset.