$77K likely the Bitcoin bottom as QT is ‘effectively dead'

$77K likely the Bitcoin bottom as QT is ‘effectively dead' — Analysts

Bitcoin is unlikely to revisit the $77,000 price level anytime soon after the Fed signaled a slowdown in quantitative tightening (QT), says BitMEX co-founder Arthur Hayes.On March 10, Bitcoin BTC BTC - $83218.181 dipped near the $77,000 level for the first time since November, according to CoinMarketCap data. “Was BTC BTC - $83218.181 $77k the bottom, prob,” Hayes said in a March 20 X post after declaring that QT is “basically over” following the Fed's March 19 announcement that starting in April, it will slow its securities sell-off by reducing the monthly Treasury cap from $25 billion to $5 billion.

Source: cointelegraph.com

Related symbols: BTCUSD

2025-03-20 06:42:02 GMT.

Link to source Join our Telegram channel

Price & Market Data

Price: $83218.181

Volume 24h: $42,856,030,230.27

Market Cap: $1,651,593,208,849.91

Description

Bitcoin (BTC) is a cryptocurrency launched in 2010. Users are able to generate BTC through the process of mining. Bitcoin has a current supply of 19,846,543. The last known price of Bitcoin is 82,564.55531196 USD and is up 1.31 over the last 24 hours. It is currently trading on 12006 active market(s) with $42,213,495,608.06 traded over the last 24 hours. More information can be found at https://bitcoin.org/.