The surge in Bitcoin ETFs followed Powell's Jackson Hole hint at a potential September rate cut. Could this impact the crypto market?
Despite this positive momentum in the ETF market, BTC itself was struggling to surpass the $65,000 threshold, trading at $62,898 after a 1.11% decline in the past 24 hours, as reported byThis discrepancy highlights a broader confusion among investors regarding the interplay between central bank interest-rate policies and their impact on the valuation of risk assets such as cryptocurrencies and stocks.
This prospect has sparked a renewed interest in risk assets. Despite a slight dip in trading volumes compared to recent weeks, activity remained robust, with weekly trading reaching $9 billion.The report further stressed on the performance of Bitcoin and noted, This saw $118 million in redemptions and contributed to a total of $2.5 billion in outflows over the past month.Also, Wall Street anticipates a significant reduction in Federal Reserve interest rates from 5.33% to 3.33% over the next 18 months.
As a result, digital assets are expected to see a rise in value, driven by the broader availability of capital.BlackRock recently disclosed
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