Macroeconomist and author Lyn Alden stated that while Bitcoin sentiment has been low in recent months, there are few downside catalysts left for the asset as fast money is washed out and market observers do not expect further selling from Bitcoin treasury strategies.
Alden's remarks follow a notable price increase for Bitcoin, which recently traded at $72,660 following a more than 6% 24-hour rise after touching $72,890. According to Alden, Bitcoin is positioned near the low end of its valuation and sentiment range by almost every metric.
"Even relatively small upside gains at this point can attract new types of buyers — once people see that the chart doesn’t look bad anymore, you can get technical traders coming back in; if you get further momentum, say months from now, you could get more momentum traders back in," Alden said during a Thursday interview with CNBC.
The recent price movement followed a White House meeting where President Trump met with crypto executives and urged lawmakers to pass the Clarity Act, a crypto market structure bill. President Trump described the legislation as a very powerful piece of legislation on Wednesday. The Clarity Act previously passed the House of Representatives last year and has faced deadlock, with a vote now expected to go ahead in September.
Alden added that while Bitcoin is not necessarily out of the woods yet, under-owned hard assets like Bitcoin will succeed over the long term. Bitcoin reached a record of $126,080 in October, but experienced a bear market in 2026 as traders pivoted toward artificial intelligence-related technology stocks and the Federal Reserve indicated interest rates would remain unchanged.
