"US Fed's Potential Shift to Dovish Stance... Positive Impact on Bitcoin (BTC)"

JH Kim

Summary

Kirill Kretov assessed that a weaker dollar and easing monetary policy increase market liquidity, positively impacting Bitcoin (BTC).
He reported that the US core PCE price index fell short of expert expectations, increasing the likelihood of the Fed's dovish stance shift.
He pointed out that the virtual asset market reacts sensitively to macroeconomic changes.

Kirill Kretov, an automation expert at CoinPanel, stated in an interview with The Block on the 30th (local time) that "a weaker dollar, increased liquidity due to easing monetary policy, and declining US Treasury yields provide a favorable macro environment for Bitcoin (BTC) and virtual assets (cryptocurrencies)."

On this day, the US Department of Commerce's Bureau of Economic Analysis (BEA) announced that the core Personal Consumption Expenditures (PCE) price index in March rose by 0% compared to the previous month.

This figure is below the expert forecast of 0.1%.

Kirill Kretov explained that "the possibility of the Fed shifting to a dovish stance has increased," and "the virtual asset industry is a market with high potential for growth, but it is also very sensitive to macroeconomic changes."