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

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ME News message: On April 8 (UTC+8), Xinhuo Research Institute’s latest analysis indicates that this week Bitcoin (BTC) has briefly rebounded to above $72,000. We believe it is still in the “high cost-performance zone.” In recent days, the 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 seen substantial increases in their holdings, indicating that institutional demand for buying remains strong.

On the macro level, driven by higher oil prices raising inflation expectations and US employment data coming in above expectations, the market generally expects the Federal Reserve to keep interest rates unchanged in April. From a policy perspective, it is recommended to closely monitor the progress of the US “CLARITY Act.” On the technical side, BTC’s rebound has already reached short-term resistance. If it can hold above the key level of $71,500, it may kick off a larger-scale rebound. Overall, the current prices of BTC and ETH are still in the “high cost-performance” allocation range. (Source: Xinhuo Group)

BTC1.42%
ETH1.53%
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