21Shares: Bitcoin is still defending the support area of ​​US$84,000-85,000, and long-term positive catalysts are forming

PANews March 29th news, according to Benzinga, 21Shares cryptocurrency research strategist Matt Mena said that U.S. stocks fluctuated in macro uncertainty, while BTC showed resilience and defended the support area of ​​$84,000-85,000. The Coin Bureau founder Nic Puckrin pointed out that the PCE data released on Friday could lead the Fed to delay its recent rate cut plan, and Bitcoin is not expected to return to its all-time highs before the Fed cuts again.

However, long-term positive catalysts for the crypto market are forming, with crypto-friendly Paul Atkins coming soon to be recognized as chairman of the U.S. Securities and Exchange Commission, which may unlock the pledge of Ethereum ETFs and approve other digital asset ETFs; in addition, the proposed U.S. strategic Bitcoin reserve legislation is expected to be introduced in May. If formal implementation is made, Bitcoin will be tied with gold as a sovereign asset.