Despite weakening expectations for a US Federal Reserve interest rate cut, Bitcoin has surpassed $80,000, demonstrating resilience against macroeconomic headwinds, CoinDesk reported. Recently, British investment bank Barclays and some financial institutions withdrew their forecasts for a Fed rate cut, citing rising energy prices due to Iran-related geopolitical tensions and inflation concerns. The outlet explained, "Typically, forecasts for interest rate hikes or freezes act as a negative for risk assets, but BTC is seeing an inflow of funds through spot ETFs, strengthening its nature as an inflation hedge. Technically, the $81,500 resistance level and the CME gap near $84,000 are key points. The current price is at the upper resistance line of the ascending channel. If BTC breaks above its 200-day moving average of $83,430, additional upward momentum is expected to strengthen."
