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

ME News Report, April 8 (UTC+8), Xinhuo Research Institute’s latest analysis indicates that Bitcoin (BTC) briefly rebounded above $72k this week. We believe it is still in the “high cost-performance zone.” Recently, the US-Iran ceasefire agreement has boosted market risk appetite, with the panic index moving out of the “extreme panic” range, and leading digital asset custody companies showing large-scale increases in holdings, indicating that institutional buying demand remains strong.

On the macro level, driven by rising oil prices boosting inflation expectations and US employment data exceeding expectations, the market generally expects the Federal Reserve to keep interest rates unchanged in April; at the policy level, close attention should be paid to the progress of the US “CLARITY Act.” Technically, BTC’s rebound has reached short-term resistance; if it can hold above the key level of $71,500, a larger rebound could be initiated. Overall, the current prices of BTC and ETH remain in the “high cost-performance” allocation zone. (Source: Xinhuo Group)