Pandl Sees Green: Three Conditions for a Bitcoin Rally

Grayscale's Research Head Zach Pandl has identified three conditions that could lead to a Bitcoin rally. According to Pandl, whether the current price levels are attractive depends on three key variables: the Fed's interest rate policy, the CLARITY Act regulation for crypto markets in the US, and Strategy's balance sheet structure.

Pandl noted that all three areas are progressing positively, with the Bitcoin price holding support around the $58,000 level. In particular, the probability of the Fed keeping interest rates unchanged in July is 78.1%, according to CME FedWatch data.

Bitcoin has recently recovered and surpassed the $63,000 level, currently trading at $62,864 with a 0.98% increase in the last 24 hours. Pandl pointed out that if these conditions are met, Bitcoin may have reached its cyclical bottom.