New Fire Research Institute: BTC rebounds above $72k, still in the "high cost-effectiveness zone"

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ME News message, on April 8 (UTC+8), the latest analysis from Xinhuo Research Institute suggests: “This week, Bitcoin (BTC) has briefly rebounded above $72,000. We believe the market is still in a ‘high cost-performance zone.’ The recent US-Iran ceasefire agreement has boosted market risk appetite, the panic index has moved out of the ‘extreme panic’ range, and major digital asset custody companies have increased their holdings significantly, indicating that institutional buying demand remains strong.”

At the macro level, driven by higher oil prices lifting inflation expectations and US employment data coming in above expectations, the market generally expects the Federal Reserve to keep interest rates unchanged in April. On the policy front, it is recommended to closely monitor the progress of the US ‘CLARITY Act’ bill.

From a technical perspective, BTC’s rebound has already reached short-term resistance. If it can hold the key level of $71,500, it may trigger a larger-scale rebound.

Overall, the current prices of BTC and ETH are still in the ‘high cost-performance’ allocation range. (Source: Foresight News)

BTC-2.36%
ETH-4%
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