Viewpoint: Expectations of another rate cut boost demand for Bitcoin ETFs, with ETFs likely to buy over 100,000 Bitcoins in Q4
Iliya Kalchev, an analyst at the digital asset platform Nexo, said that expectations for another interest rate cut in the United States are rising, triggering a shift in market sentiment and attracting investors' new demand for Bitcoin ETFs. At the current rate of operation, the inflow of funds in the fourth quarter could result in over 100,000 BTC exiting 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 the release date depends on the duration of the current U.S. government shutdown, the first such occurrence since 2018.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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