Grayscale Research Director: Despite Weak Jobs Data, Bitcoin Could Still Hit a New High in Q1

BlockBeats News, February 8th. Grayscale's Director of Research, Zach Pandl, stated in an interview that Bitcoin could potentially reach a new all-time high in the first quarter of 2025. On February 7th, U.S. officials announced that the country added 143,000 new jobs in January, slightly below expectations. Pandl believes that the latest U.S. jobs report may "reinforce expectations that the Federal Reserve will pause rate hikes for a time, but is unlikely to lead to a material repricing."

Pandl stated: "Bitcoin may likely weather the latest jobs report. Bitcoin and other digital assets are benefiting from various policy-related tailwinds, including progress on stablecoin legislation." Therefore, he expects "the cryptocurrency market to show a bullish bias." He said: "As long as the stock market remains stable, Bitcoin could potentially reach a new high later this quarter."