Bitcoin's 2025 All-Time High Hopes Unwavered Despite Jobs Report Miss

Bitcoin's potential to reach a new all-time high in the first quarter of 2025 remains intact, according to Grayscale's Director of Research, Zach Pandl. Despite the U.S. jobs report showing a slight miss in expectations, Pandl believes that the latest data is unlikely to lead to a significant repricing of Bitcoin.

Pandl stated that Bitcoin and other digital assets are benefiting from various policy-related tailwinds, including progress on stablecoin legislation. He expects the cryptocurrency market to show a bullish bias, as long as the stock market remains stable. Pandl's optimism is rooted in the belief that the latest jobs report may reinforce expectations that the Federal Reserve will pause rate hikes for a time.

The U.S. added 143,000 new jobs in January, slightly below the expected 185,000. While the jobs report may not have a material impact on Bitcoin's price, it could influence the Federal Reserve's monetary policy. The central bank has been raising interest rates to combat inflation, but a pause in rate hikes could provide a boost to risk assets, including Bitcoin.

Bitcoin's potential to reach a new all-time high in the first quarter of 2025 is supported by several factors. The cryptocurrency has been benefiting from increased institutional interest, as well as progress in regulatory clarity. Additionally, the upcoming halving event, which is expected to occur in 2024, could also provide a boost to Bitcoin's price.

However, it is important to note that Bitcoin's price is still volatile, and there are several risks that could impact its price in the short term. These include regulatory uncertainty, geopolitical risks, and market sentiment. Despite these risks, Pandl's optimism is a reflection of the broader sentiment in the cryptocurrency market, which remains bullish despite the recent pullback in Bitcoin's price.