PANews reported on January 11 that according to Cointelegraph, Grayscale research director Zach Pandl said that although macroeconomic data is temporarily facing resistance, the price outlook remains "structurally bullish." "Bitcoin seems to be suppressed by the strength of the US dollar, which has risen due to the Federal Reserve's tougher policies and tariff threats." He added: "Today's strong employment report reduces the possibility of a rate cut by the Federal Reserve, further supports the US dollar, and may temporarily put pressure on Bitcoin prices."

Futures markets are currently estimating less than a 3% chance of a rate cut in January, according to CME FedWatch data. The dollar index (DXY) was up nearly 0.5% in early trading. "However, with the upcoming U.S. presidential inauguration, this setback is likely to be short-lived," said Zach Pandl, adding that he still believes that "the outlook for cryptocurrency valuations is structurally bullish."