Analyst Predicts Bitcoin Bear Market Will Last Only 90 Days
An analyst has predicted that the current Bitcoin bear market will be short-lived, lasting approximately 90 days. Meanwhile, significant developments in Pakistan’s crypto policy, global trade tensions, and Tether’s auditing plans are shaping the crypto landscape.
Key Highlights:
- Pakistan’s Crypto Council proposes Bitcoin mining using excess energy.
- Crypto markets expected to face pressure from global trade tensions until early April.
- Tether seeks a Big Four accounting firm for its first comprehensive financial audit.
Pakistan Crypto Council Proposes Bitcoin Mining with Excess Energy
The newly formed Crypto Council of Pakistan has proposed mining Bitcoin using surplus, runoff energy. This proposal was presented during the council’s inaugural meeting on March 21, attended by key officials including the governor of the Bank of Pakistan, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and federal lawmakers.
Bilal bin Saqib, CEO of Pakistan’s Crypto Council, emphasized the country’s potential in blockchain finance, highlighting Pakistan’s young population and web3-ready workforce. This marks a significant shift from Pakistan’s previous restrictive stance on cryptocurrencies.
Crypto Markets Under Pressure from Trade Wars Until April
According to Nicolai Sondergaard, a research analyst at Nansen, global tariff tensions will continue to weigh on crypto markets until at least April 2. The uncertainty surrounding reciprocal tariffs introduced by U.S. President Donald Trump is expected to keep risk assets volatile. However, resolution of these trade issues between April and July could serve as a positive catalyst for market recovery.
Tether Engages Big Four Firm for Comprehensive Financial Audit
Tether, the issuer of the USDT stablecoin, is reportedly in discussions with a Big Four accounting firm to conduct its first full financial audit. CEO Paolo Ardoino stated that the audit process would be facilitated by the pro-crypto stance of U.S. President Donald Trump. Currently, Tether undergoes quarterly reporting but lacks a comprehensive annual audit, raising concerns among investors and regulators about potential liquidity risks.
Ardoino did not specify which of the Big Four firms—PwC, EY, Deloitte, or KPMG—would be selected for the audit.
