Bitcoin gets March 25 'blast-off date' as US dollar hits 4-month low

Key Points

  • Bitcoin is predicted to "blast off" on March 25 as global liquidity trends favor crypto and risk assets.
  • The US dollar has hit a 4-month low, with the US Dollar Index (DXY) nearing a drop below 104, signaling potential new all-time highs in global money supply.
  • Analysts suggest that a rebound in total M2 money supply could trigger a significant Bitcoin price increase.
  • There's a 71% chance of the US establishing a strategic Bitcoin reserve, according to prediction service Kalshi.

Summary

The article discusses the anticipated surge in Bitcoin's price, expected around March 25, due to favorable global liquidity conditions and a weakening US dollar. The US Dollar Index (DXY) has reached its lowest point since November, hinting at an increase in global money supply which historically correlates with bull markets in Bitcoin. Analysts like Andre Dragosch from Bitwise and Colin Talks Crypto have highlighted these trends, predicting an "epic" rally for Bitcoin and other risk assets. Additionally, there's growing speculation about the US government potentially establishing a strategic Bitcoin reserve, with odds now at 71% according to Kalshi. This move is seen as part of a broader acceptance of Bitcoin as a form of digital sound money, despite some delays due to lack of congressional support. The article emphasizes the sensitivity of Bitcoin to liquidity trends and the potential impact of government policy on its valuation.

cointelegraph
March 6, 2025
Crypto
Read article

Related news