Bitcoin may have bottomed and could rebound toward $90,000 after US President Donald Trump signaled a willingness to ease tariffs and the Federal Reserve resisted short-term pressure last week, according to a crypto analyst.
“Bitcoin is attempting to form a bottom, supported by Trump’s recent shift toward ‘flexibility’ on the upcoming April 2 reciprocal tariffs, softening his earlier rhetoric,” 10x Research’s founder Markus Thielen said in a March 23 report.
The Federal Reserve signaled in its March 18-19 meeting that it would also “look past short-term inflationary pressures, laying the groundwork for potential future easing,” Thielen added.
“Powell’s mildly dovish tone suggests that the Fed’s put remains intact, providing further support for a recovery in stock prices.”
10x Research’s Bitcoin reversal indicators have turned bullish as a result, with Bitcoin’s (BTC) 21-day moving average now at $85,200, Thielen noted.
Bitcoin’s