TechFlow news, on March 21, 10x Research stated that despite the Fed's dovish stance, the Bitcoin market may still face near-term upward resistance. The research firm noted that as long as Bitcoin's price remains below the 90,000–92,000 USD resistance zone, the broader market could continue to consolidate.
The Federal Reserve has downgraded its growth outlook and slightly slowed the pace of balance sheet reduction (QT), with Chair Powell emphasizing that recent inflation increases may be temporary. While this provides short-term support for risk assets, 10x Research believes large investors may remain cautious ahead of Trump’s tariff announcement on April 2 and the start of the U.S. corporate earnings season on April 11.
The report also highlighted that weakening consumer confidence and a deteriorating real estate market could lead to poor performance during earnings season, while market structure indicators remain weak, suggesting the current rebound may struggle to gain significant momentum or reignite broad-based bullish sentiment in Bitcoin.
