Bitcoin has rebounded back above $43,000 in recent days, recovering some of its losses from earlier this year. However, the cryptocurrency still faces macroeconomic headwinds that could limit further upside in the short term. With inflation remaining stubbornly high and the Fed's policy path unclear, Bitcoin may struggle to gain significant momentum ahead of the Fed's pivotal March meeting. According to technical analyst Jacob, the key level to watch is $44,000 - if Bitcoin can break above and hold this level, it could signal the start of a renewed bull run. For now, traders appear to be in wait-and-see mode.