An ongoing recovery from U.S. macroeconomic policy updates could spell more sustained progress for the BTC price going into the holiday weekend. Here are the most important things to know about this topic:
1. The U.S. government recently passed a $1.9 trillion stimulus package, which is expected to boost economic growth and increase inflation. This could lead to a weaker U.S. dollar and higher demand for alternative assets like Bitcoin.
2. The Federal Reserve has also indicated that it will keep interest rates near zero for the foreseeable future, which could further support Bitcoin’s price. Low interest rates make it less attractive to hold cash and more attractive to invest in riskier assets like Bitcoin.
3. In addition, Bitcoin’s recent price dip may have been driven by concerns over regulatory crackdowns in China and the U.S. However, some experts believe that these concerns are overblown and that Bitcoin’s long-term prospects remain strong.
In summary, ongoing macroeconomic policy updates in the U.S. could provide a boost to Bitcoin’s price going into the holiday weekend. Factors like the stimulus package, low interest rates, and regulatory concerns will continue to shape Bitcoin’s price in the coming weeks and months.