According to Wu Blockchain, Grayscale's Head of Research, Zach Pandl, shared a post stating that Bitcoin fell below $60,000 this week, marking a drop of over 50% from its all-time high of $125,000 in October last year. However, he believes this pullback is still a cyclical adjustment within a long-term upward trend. Pandl noted that Bitcoin's recent pressure is mainly due to changes in expectations around Federal Reserve policies, as the market now anticipates potential rate hikes this year instead of cuts. Additionally, uncertainty around the CLARITY Act, Strategy's leveraged balance sheet pressures, and digital security risks related to quantum computing have also weighed on the market. Grayscale believes that if the CLARITY Act passes the U.S. Senate, Strategy strengthens its balance sheet, and the Fed pauses rate hikes, Bitcoin may be nearing its bottom. Conversely, if the CLARITY Act fails to pass this year, DAT undergoes further deleveraging, and the Fed raises rates due to inflation, Bitcoin could see a moderate continued decline. https://(wublock123.com)/news/grayscale-bitcoin-cycle-low-fed-rates-clarity-act-progress-63644