21Shares Analyst: Positive PCE data, Nvidia's profits, and regulatory clarity may provide upward momentum for Bitcoin

News on February 27, according to Theblock, Bitcoin has had a turbulent week, falling 21% from its historical high of $110,000. Matt Mena, cryptocurrency research strategist at 21Shares believes that there may be some positive catalysts in the future. He pointed out that Nvidia's strong earnings report released on Wednesday and potential signs of further cooling inflation in Friday's core PCE data are key events that could push up Bitcoin prices. Matt Mena said: "Positive regulatory tailwinds coupled with Nvidia's strong earnings (which indicate a continued increase in AI-driven demand and boost overall risk sentiment), plus this Friday’s personal consumption expenditure (PCE) inflation data showing positive growth could create the perfect macro environment for Bitcoin not only to recover previous highs but also potentially break through $150,000 as institutional and retail confidence soars." Matt Mena also emphasized that regulatory clarity could change the rules of the game for Bitcoin especially when it comes to attracting institutional capital. He added: "If the United States provides clear guidance on stablecoins and broader digital asset regulation we might see a large influx of institutional money into this field."