On March 19, Markus Thielen, CEO of 10x Research, said that despite the widespread concerns among investors, Bitcoin may be on track to recover to above $90,000 due to the easing of inflation concerns in the United States. He added: "We could see some counter-trend rally due to oversold prices, and there is a good chance that the Federal Reserve will take a dovish stance, which is some fine-tuning by policymakers. Would put BTC in a broader consolidation range, but it is entirely possible to return to $90,000." Nexo analyst Iliya Kalchev said traders and investors will be watching for any news of the end of the Federal Reserve's quantitative easing (QT) program, a move that could add to liquidity as the Fed's upcoming decision could be the main catalyst for further movement, and if Chairperson Powell takes a dovish stance, bitcoin could take off in a new bullish momentum.