An important moment is coming that could potentially have a significant impact on the crypto market. According to the news platform Forbes, the Federal Reserve (Fed) is likely to relax its strict policy.
The recent decline in the US Consumer Price Index (CPI) suggests that the Fed’s aggressive rate hikes have had a positive effect. This can result in a huge influx of capital.
Forbes states that $6 trillion of capital could potentially flow into the market if the Fed signals inflation is under control. This could cause many cryptocurrencies to rise significantly.
Tom Lee, managing partner at Fundstrat Global Advisors, predicts that such a policy change could be a one-time, transformative event. He expects that the Bitcoin price could potentially reach $150,000, which would be an increase of 114% from the current value.
Bitcoin ETFs are having their best days
The market already seems to be preparing for positive news, which was visible in the green figures in recent days. The American spot exchange-traded funds (ETFs) are also showing a strong upward movement. The funds launched in January have already recorded seven consecutive positive trading days, culminating yesterday with the largest capital inflow in weeks.
According to data from Farside Investors, Bitcoin funds raised a total of $305.7 million yesterday, the best trading day since May 3. The funds have now achieved their third best run since launching on January 11. BlackRock’s IBIT fund in particular performed exceptionally well with net inflows of $290 million, the highest inflows since April 5. This even exceeded the cumulative inflows of the past 21 trading days.
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Source: https://newsbit.nl/positief-crypto-nieuws-fed-beleidsversoepeling-kan-bitcoin-naar-150-000-stuwen/
