Bitcoin

Leak Reveals ETF Perfect Storm Could Be Heading Toward Bitcoin After Fed’s $6 Trillion Inflation Triggered Crypto Price Boom

Published

8 months ago

18 May, 2024

Leak Reveals ETF Perfect Storm Could Be Heading Toward Bitcoin After Fed's $6 Trillion Inflation Triggered Crypto Price Boom

Update 5/16 below. This post was originally published on May 15

Bitcoin
Bitcoin
rose suddenly, rising after the latest US inflation data showed that price pressure had resumed its downward trend (with some speculating that a “huge” earthquake in China could be coming).

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The price of bitcoin surpassed $65,000 per bitcoin for the first time since early May as traders increase their bets that the Federal Reserve will soon declare victory in its war on inflation and cut interest rates.although Elon Musk recently joined other high-profile investors in warning that “stealth money printing” could destroy the US dollar.

Ahead of Key Inflation Data That Sent Ethereum, XRP
XRP
and with the broader crypto market surging, one bullish bitcoin investor has predicted that there is “$6 trillion in cash on the sidelines” that could drive the price of bitcoin to $150,000 this year – calling it the latest bull run in the world. “still early” bitcoin.

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ForbesInsider Generates Wild Speculation: An ‘Absolutely Huge’ China Price Earthquake Could Be About to Hit Bitcoin and Crypto By Billy Bambrough

Bitcoin, Ethereum, XRP and crypto traders are increasingly betting on Federal Reserve Chairman Jerome… [+] Powell will cut interest rates this year – potentially driving up the price of bitcoin.

Getty Images

“Bitcoin is still at the beginning of a bull cycle,” said Tom Lee, managing partner and head of research at Fundstrat Global Advisors. counted CNBC. “So the idea that it could reach $150,000 this year is still within our base case.”

The latest monthly US consumer price index data showed that the pace of US inflation eased slightly in April, rising 0.3% versus 0.4% in March and economists’ forecasts of 0.4%.

“I think it helps that the Fed is reiterating its view on inflation and is relatively more dovish than the market,” Lee said. “So I think that’s why the markets are rallying.”

The price of bitcoin has soared about 75% since the start of the year, rising along with expectations that the Federal Reserve will begin cutting interest rates this year.

“We know there is a lot of pent-up demand,” Lee said. “Capital spending is increasing, ISMs [international securities markets] are showing up, there’s $6 trillion in cash sitting on the sidelines, and people have been cautious for over two years.”

Update 5/16: The world’s largest futures exchange operator, CME, is preparing to launch additional spot bitcoin trading, it was reported by the Financial Times, citing a leak from three anonymous sources.

The unconfirmed plan to open the CME to bitcoin trading is a response to Wall Street’s “growing demand” for bitcoin following the launch of a fleet of spot bitcoin exchange-traded funds (ETFs) in January – highlighting the amount of capital that remains “on the sidelines” of the bitcoin and crypto market.

The 11 bitcoin spot ETFs that exploded onto Wall Street earlier this year have taken the financial establishment by storm, skyrocketing to about $50 billion in combined assets under management since January and becoming some of the fastest-growing ETFs on record.

BlackRock

Black stone
IBIT’s bitcoin spot ETF led the pack, growing to nearly $17 billion in assets under management and now looks likely to soon unseat Grayscale’s GBTC as the largest bitcoin fund that has nearly $18 billion in assets.

However, some bitcoin and crypto market analysts have downplayed the Federal Reserve’s long-term impact on the price of bitcoin.

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Forbes ‘Beyond’ $20 Trillion by 2030 – Jack Dorsey’s Plan to Boost Bitcoin PriceBy Billy Bambrough

The price of bitcoin has reached its 2021 peak, boosting the price of ethereum, XRP and the broader crypto… [+] Marketplace.

Forbes Digital Assets

“While Federal Reserve policies may induce volatility in the short term, they do not fundamentally change the long-term trajectory of bitcoin,” Leena ElDeeb, a research associate at bitcoin and crypto investment firm 21Shares, said in emailed comments. “Therefore, bitcoin currently occupies a unique position as both a risk- and risk-free asset, navigating unique market dynamics.”

Bitcoin’s price rally this year has been turbocharged by a fleet of new Wall Street spot bitcoin ETFs, opening up the bitcoin market to large groups of investors who consider cryptocurrency exchanges risky.

Last month, a major Wall Street bank leak suggested that brokers could soon get the green light to recommend spot bitcoin ETFs to their clients.

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Bitcoin halving has been completed. 3 cryptocurrencies to buy now.

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Bitcoin halving has been completed. 3 cryptocurrencies to buy now.

SatoshiTimes Staff

We are the editorial team of SatoshiTimes, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on SatoshiTimes, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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Cryptocurrency Charts by TradingView.

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