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Opinion: Expectations of Further Interest Rate Cuts Drive Demand for Bitcoin ETF, Q4 ETF May Buy Over 100,000 Bitcoins
Summary: According to Nexo's analyst Iliya Kalchev, growing expectations of another interest rate cut in the United States have triggered a shift in market sentiment, attracting investors to a new round of demand for Bitcoin ETFs. At the current pace, the inflow of funds in the fourth quarter could lead to over 100,000 BTC being taken ...
According to Nexo's analyst Iliya Kalchev, growing expectations of another interest rate cut in the United States have triggered a shift in market sentiment, attracting investors to a new round of demand for Bitcoin ETFs. At the current pace, the inflow of funds in the fourth quarter could lead to over 100,000 BTC being taken out of circulation.
However, the momentum of Bitcoin will depend on several key events next week, including a speech by Federal Reserve Chairman Jerome Powell and the release of the Federal Open Market Committee (FOMC) meeting minutes. Investors are also awaiting the delayed release of the U.S. jobs report, but its release date depends on the duration of the current U.S. government shutdown, the first of its kind since 2018.
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Link: Opinion: Expectations of Further Interest Rate Cuts Drive Demand for Bitcoin ETF, Q4 ETF May Buy Over 100,000 Bitcoins [Copy]
