The market is back to green ! It’s always a good feeling but it’s important to hold our emotions and to not FOMO right after seeing a strong green candle. But I’m very bullish for the coming months let’s see why.
Photo by Art Rachen
Bitcoin ETFs
Some people may have forget it but the major news of 2024 was the approbation of the Bitcoin ETFs Spot in January. That’s a door for investements from huge assets managers like Blackrock and Fidelity to name a few.
They have nearly 15 trillions dollars under management ! Yesterday, nearly 1 billion dollars were invested in those ETFs, the majority to FBTC the ETF of Fidelity.
Source : theblock
It shows that Blackrock is not the only one that will attract invesment, also outflows from Grayscale ETF (GBTC) are diminishing ! It’s clear that it helped drive the price of BTC to 71k. And it’s just the beginning, inflows are back !
Interest Rate Cuts
This will be the catalyst for the bullrun. Yes the Bullrun is far from over, it will be push by liquidity coming into the market. And for this to happen money have to quit safe invesments such as National Bonds to go into the crypto market. Right now yield are very high so there is a lot of money in the bonds :
Source : Bloomberg
But when interest rate will starts deacreassing it will indirectly dimisih those yield. Canada started to cut rate by 0.25% :
Source : Bank Of Canada
The European Central Bank will soon follow, the market expect that tomorow (June 6th) interest rate will bu cut by 0.25% as well. The US will soon follow and then it will be a huge news.
As always thank you for reading !
My favorite Crypto Faucet : Cointiply (referral)
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Disclaimer : This is not a financial advice, you need to do your own research !
