Bitcoin Bottom In? Analyst Defends $60K Level as Fed

While some traders still expect a drop below $50K, he believes that scenario is unlikely and risky to bet on. At press time, Bitcoin is trading at $67,100, down 0.27% over the past day/

Growing Macro Support as Liquidity Increases

Another analyst, Mark Chadwick, says the bigger economic picture is becoming more favorable, not just for Bitcoin, but for risk assets in general.

He points out that the Federal Reserves balance sheet has grown to about $6.67 trillion, rising by around $18 billion week over week. In the past, similar increases in liquidity have often led to strong market rallies.

Chadwick compares this to 2020–2021, when increased liquidity helped drive Bitcoin from about $4,000 to nearly $69,000, while many altcoins saw huge gains.

Other signs of rising liquidity are also appearing. The U.S. Treasury recently conducted a record $15 billion buyback, and T-bill purchases are now higher than during the crisis era. Meanwhile, economic data such as the PMI moving above 50 suggests growth is picking up again.

He also notes that a proposed $1.5 trillion spending plan from Donald Trump could add even more money into the system, further boosting markets.

Overall, the combination of strong support around $60K and improving macro conditions is leading some analysts to believe the market may already be preparing for another upward move.