Bitcoin could break its current sideways-downward trajectory as liquidity setup looks great for a potential upswing and range-breakout...
, especially from a liquidity perspective. In fact, according to Charles Edwards, Founder of crypto-hedge fund Capriole Investments, the overall global liquidity has
“Global money supply is exploding up. Plus, we just broke out of a massive 4-year consolidation. What do you think this means for Bitcoin?”While several factors could affect BTC’s prices, the world’s largest digital asset is a well-known liquidity junkie. Such a spike in global liquidity could set up BTC for an upside potential.The recent surge in global liquidity isn’t surprising, given the beginning of quantitative easing as central banks cut interest rates. Canada and the U.
The U.S is expected to begin Fed rate cuts by September, which could further spike global liquidity and affect the cryptocurrency’s prices. At press time, interest rate traders wereApart from the Fed rate cut, the U.S liquidity injection would come from the over $300 billion in T-bills the U.S Treasury Department will issue between now and the end of the year.
For the unfamiliar, T-bills are used by the government to raise funds to cover fiscal deficits needed for overall expenditure. In short, positive net issuance of T-bills will increase U.S liquidity.In short, BTC could see massive price appreciation from September onwards. Meanwhile, at the time of writing, the world’s largest cryptocurrency was trading at $60.8k, with BTC facing a short-term sell wall at $63k.Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.Subscribe to get it daily in your inbox.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kraken begins Bitcoin (BTC) & Bitcoin Cash (BCH) distribution to Mt Gox creditorsIn a much awaited move, Kraken - a leading crypto exchange - has reportedly started distributing Bitcoin (BTC) and Bitcoin Cash...
Read more »
Why Bitcoin could reach $71K in September, and $100K in DecemberBitcoin could rally towards the end year as positive catalysts begins to align amidst surge in stablecoin growth and Fed rate cuts.
Read more »
Bitcoin eyes $100k milestone: Just one hurdle left to clear!Bitcoin [BTC] has remained bullish throughout the last week, as its weekly and daily charts were both green.
Read more »
Charting Bitcoin’s road beyond $60K: A 20% surge in coming weeks?Bitcoin [BTC] recently managed to break above the $60k barrier, sparking excitement among crypto investors.
Read more »
Michael Saylor equates Lummis’ BTC bill to ‘Louisiana Purchase’Saylor's 'Louisiana Purchase moment' for Lummis' BTC reserve bill hints at transforming U.S. Bitcoin leadership.
Read more »
How BlackRock’s Bitcoin ETF surged amid a BTC price dropDespite a general downturn in the cryptocurrency market, the BlackRock Bitcoin ETF saw record trading volumes.
Read more »