Bitcoin Price Primed for $64K Comeback

Bitcoin (BTC) is poised to regain the $64,000 price level 'very quickly' as the US Federal Reserve signals an interest rate cut, according to a report by quantitative crypto fund Capriole Investments. This macroeconomic shift, combined with the market's best performing quarter in Q4, is expected to drive BTC's return to its strongest bull market performance.

Favorable Timing and Macroeconomic Conditions

Capriole Investments founder Charles Edwards says Bitcoin stands to benefit exponentially from the upcoming macroeconomic changes, as the Fed transitions to a more dovish policy regime after its hawkish stance in 2021-2022 that saw rates rise sharply. With weekly support at $58,000, BTC is primed to resume its classic bull market trajectory and potentially surpass the $70,000 range high.

The report dismisses worries over shifting BTC supply trends, arguing that the emergence of US spot Bitcoin ETFs has skewed perspectives on this metric. Capriole remains bullish on Bitcoin's prospects despite the current 'bearish' technical picture, anticipating a strong recovery should the $60,000 monthly resistance level be reclaimed.

Source: https://cointelegraph.com/news/bitcoin-price-can-see-64k-very-quickly-fed-rate-cut

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