It is an interesting situation that banks are canceling their expectations of interest rate cuts one by one. Barclays, JPMorgan, and other major institutions believe the Fed will keep rates steady this year. Under normal circumstances, this situation should have impacted risky assets, but Bitcoin is moving in the opposite direction. It surpassed $80,000 and is currently hovering around $80,700. While expectations for rate cuts weaken, why does Bitcoin remain so strong?

Some analysts say that the crypto asset is being repositioned as a hedge against inflation. The inflow of money into spot ETFs continues, indicating a structural change in demand. Technically, momentum is on the bulls' side. The $81,500 resistance level is closely watched, and the 200-day moving average is at $83,430. Consistent movement above these levels could trigger a speculative surge toward $100,000.

Altcoins are also showing selective strength. Toncoin jumped 35%, MORPHO and PENGU increased by 11% and 9%, respectively. Ethereum, Solana, and XRP followed Bitcoin's moderate rise. Market sentiment is at a critical point — the Fear and Greed Index has risen to 50. Bulls are currently in control, but if rejection occurs at these levels, a pullback to $70,000 is possible.