On January 11, according to Cointelegraph, Zach Pandl, head of research at Grayscale, said that despite temporary resistance to macroeconomic data, the BTC price outlook remains “structurally bullish.” “Bitcoin appears to have been restrained by a stronger U.S. dollar driven by more hawkish policy from the Federal Reserve and the threat of tariffs.” He added: “Today’s strong jobs report reduces the likelihood of a Fed rate cut, further supporting the U.S. dollar,” he added. "However, with the U.S. presidential inauguration approaching, this setback may be short-lived," he said, adding that he still believes "cryptocurrency valuations are improving." The outlook is structurally bullish."