Reserve

Rally

Bitcoin

April

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During a recent interview on CNBC, Bitcoin bull Tom Lee&nbsp;<a href="https://twitter.com/fundstrat/status/1782454673519112650">opined</a> that the markets were in a good position to rally.&nbsp;
Lee has pointed to the fact that the median short interest in stocks has surged to the highest level in three years.
"Now we just need a positive catalyst. I think as long as inflation tracks better than expected, I think we’re in a good position to rally," he said.&nbsp;
Lee has added that the market could be close to a potential market bottom.&nbsp;
Fundstrat's Lee also believes that sharp corrections are normal during bull market cycles despite growing bearishness. "There's a lot of top callers. To me, there's a good opportunity."
Last week, US Federal Reserve chair Jay Powell acknowledged that returning inflation to the much-coveted 2 percent target would take "longer than expected." This came after long-term inflation expectations spiked to the highest level in more than a year.&nbsp;
According to the BofA credit investor April survey, inflation remains the top worry for investors. With that being said, nearly half of investors (45%) expect the central bank to pull off a soft landing.&nbsp;
On Apr. 17, the price of Bitcoin plunged below the $60,000 level just days ahead of the halving. The drop was partially caused by the diminishing odds of a June rate cut due to the most recent&nbsp;<a href="https://u.today/bitcoin-btc-price-plunging-after-crucial-cpi-data">inflation data</a>.&nbsp;
Notably, hikes or zero cuts are now&nbsp;<a href="https://twitter.com/denizboysanbora/status/1782051229872386276">more likely</a> than three rate cuts this year.&nbsp;
However, cryptocurrency bull Mike Novogratz is&nbsp;<a href="https://u.today/mike-novogratz-names-key-reason-why-hes-bullish-on-bitcoin">convinced</a> that the Fed will still have to cut rates this year.&nbsp;&nbsp;

Bitcoin Bull Tom Lee Says Markets Are in "Good Position" to Rally

U_Today

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