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

CoinRank News: Matt Mena, cryptocurrency research strategist at 21Shares, said that while U.S. stocks have fluctuated amid macro uncertainty, BTC has shown resilience and is defending the $84,000-85,000 support zone. Nic Puckrin, founder of The Coin Bureau, pointed out that the PCE data released on Friday could cause the Fed to postpone its recent rate cuts, and Bitcoin is not expected to return to its all-time highs until the Fed cuts rates again. Long-term positive catalysts for the crypto market are taking shape, one of which is that crypto-friendly Paul Atkins is about to be confirmed as chairman of the U.S. Securities and Exchange Commission, which may unlock Ethereum ETF pledges and approve other digital asset ETFs; in addition, the proposed U.S. Strategic Bitcoin Reserve legislation is expected to be introduced in May. If formally implemented, it will make Bitcoin a sovereign-level asset alongside gold. (benzinga)