PANews reported on March 29 that according to Benzinga, Matt Mena, a cryptocurrency research strategist at 21Shares, said that the U.S. stock market has fluctuated amid macro uncertainty, while BTC has shown resilience and is defending the $84,000-85,000 support area. Nic Puckrin, founder of The Coin Bureau, pointed out that the PCE data released on Friday may cause the Federal Reserve to postpone its recent interest rate cut plan, and Bitcoin is not expected to return to its historical highs before the Federal Reserve cuts interest rates again.

However, long-term positive catalysts for the crypto market are taking shape. One of them is that crypto-friendly Paul Atkins is about to be confirmed as the chairman of the U.S. Securities and Exchange Commission, which may unlock Ethereum ETF pledges and approve other digital asset ETFs; in addition, the proposed U.S. strategic Bitcoin reserve legislation is expected to be introduced in May. If formally implemented, Bitcoin will be listed alongside gold as a sovereign-level asset.