Zach Pandl, Head of Research at global virtual asset management firm Grayscale, emphasized that Bitcoin had already formed its lowest bottom at $58,000, recorded in late June. According to The Block, Pandl analyzed that despite short-term volatility headwinds such as the recent resumption of the US Federal Reserve's interest rate hikes and difficulties in voting on the Senate CLARITY Act, long-term market expansion and the macroeconomic environment remain valid. Grayscale stated that based on such market cycles and improvements in on-chain structure, it diagnoses the current period as a buying opportunity and has given the "green light" for institutional and individual clients to actively expand their cryptocurrency asset allocations.
