21Shares: Bitcoin is still defending the $84000-$85000 support zone, and a long-term positive catalyst is forming

According to Benzinga, Matt Mena, a cryptocurrency research strategist at 21Shares, stated that while the US stock market has experienced volatility amidst macro uncertainty, BTC has shown resilience and is defending the $84000 to $85000 support zone. Nic Puckrin, founder of The Coin Bureau, pointed out that the PCE data released this Friday may cause the Federal Reserve to postpone its recent interest rate cut plan, and it is expected that Bitcoin will not return to historical highs before the Fed cuts interest rates again. However, long-term positive catalysts for the cryptocurrency market are forming, one of which is the upcoming confirmation of crypto friendly Paul Atkins as the Chairman of the US Securities and Exchange Commission, which may unlock Ethereum ETF pledges and approve other digital asset ETFs; In addition, the proposed US strategic Bitcoin reserve legislation is expected to be introduced in May. If officially implemented, it will make Bitcoin and gold equal sovereign level assets.