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# 📊 Bullish logic for Bitcoin (basic support level)
🌍 **Macroeconomic level (basic support level)**
A sharp fall in oil prices has eased inflationary pressures, allowing the Federal Reserve to lower interest rates.
🌍 **Macroeconomic level (basic support level)**
A sharp fall in oil prices has eased inflationary pressures, allowing the Federal Reserve to lower interest rates.
Previously, affected by the situation in the Middle East, global oil prices rose to around $120/barrel, triggering market concerns about a resurgence of inflation and suppressing the performance of high-risk assets.
Recently, U.S. President Trump stated that the conflict in the Middle East is coming to an end and that some oil-related sanctions will be lifted to stabilize oil prices.
**WTI prices fell 10% in a single day**, leading to a rapid decline in inflation expectations.
💵 The market began to expect the Federal Reserve to cut interest rates in June, causing US Treasury yields to fall, the US dollar to weaken, and global liquidity to ease slightly.
The market has begun to price in the possibility of a rate cut by the Federal Reserve in June, leading to lower U.S. Treasury yields, a weaker U.S. dollar and slightly looser global liquidity.
Bitcoin, as a highly liquid asset, directly benefits from this mechanism, causing its value to rise significantly.
At the same time, the U.S. non-farm payrolls data in February was unexpectedly weak, with a net loss of 92,000 jobs and the unemployment rate rising to 4.4%, which helped strengthen the Federal Reserve’s shift to more loose monetary policy.
Governor Bowman made it clear that a weak labor market requires interest rate support, fueling expectations for a rate cut and fueling macroeconomic momentum for Bitcoin’s recovery.
