Now in Crypto, Bitcoin rallyed on a new high on Sunday, Stripe CEO said Stablecoins would force banks to offer users of real interest in deposits, and the listed area of the US Bitcoin exchange-traded funds (ETF) was kicked in October with billions of flows.
Bitcoin Rally up to $ 125,000 -Fuel by US Gov’t Shutdown, Macro Factors: Analysts
Bitcoin violated a new all-time high over the weekendthat motivates analysts to call for a modified phase of accumulation that can fuel a rally at $ 150,000 before the end of the year.
Bitcoin (Btc) set a new All times high at $ 125,700And its market capitalization briefly crossed the $ 2.5 trillion milestone to the first time In the history of cryptoCointelegraph reported earlier on Sunday.
The rally has been supported by many macroeconomic factors, including the recent shutdown of the United States government-the first since 2018-that some analysts have been renewing interest in Bitcoin’s store-of-value role.
Previously, similar conditions have led to “major price milestones,” according to Fabian Dori, chief investment official in the Digital Asset Banking Group Sygnum Bank.
The US government’s shutdown is “renewed discussion around the paper with the value of the Bitcoin store, as political disfunction emphasizes interest in decentralized property,” Dori told Cointelegraph. “At the same time, the broader environment-characterized by loose liquidity conditions, a speeding-up-led business cycle service, and narrow underperformance related to equality and gold-has drawn attention to digital properties,” he added.
Stripe CEO said Stablecoins will force banks to offer users of competitive interest in deposits
Stripe CEO Patrick Collison said Stablecoins will force banks offer interest rates in interest to customers due to increasing stablecoin options with yield.
Collison noted the average saving rates offered for customer deposits in the United States and Europe, all of which came below 1%, as ripe for interruption of stablecoins. She is write:
“Depositors are going, and should, earn something closer to a return to the market to their capital. Some lobbys are currently pushing the post-genius to further tighten any kind of rewards associated with stablecoin deposits. The importance of business here is clear-cheap deposits are great, but the consumer-hosting of me is so good.”
Stablecoin Market Cap crossed $ 292 billion in October, according to data from Rwa.xyzAs the sector continues to grow following a comprehensive bill signed by law in the United States.
The Bitcoin ETFS Kickstart “Uptober” with $ 3.2 billion in the second best week recorded
The US -listed areas listed in the US Second Best Best Week Flow From LaunchingSigned renewed investor optimism.
Spot bitcoin (Btc) ETFs recorded the $ 3.24 billion worth of combined -with net Positive flowing In the past week, nearly compatible with their record of $ 3.38 billion on the week ending on November 22, 2024, According to in data from sosovalue.
The figure marks a sharp rebound from $ 902 million of last week to streams. The analysts associate with the growth of the growing expectations of another cutting of the US interest rate, which improved the emotion to the risk of risk.
The growing expectations of another US interest rate triggered a “transfer of emotion,” which attracts the revised investor demand for Bitcoin ETFs, “bringing a four-week flow to nearly $ 4 billion,” Iliya Kalchev, analyst of the digital asset platform Nexo, told the cointelegraph. “At current run rates, Q4 flows can retire more than 100,000 BTC from circulation-more than double new release.”
“ETF absorption accelerates as the long -term distribution of the holder enhances, helping the BTC build a stronger base,” close to key technical support levels, he added.
The ongoing ETF flow can provide significant tailwinds for Bitcoin in October, which is the second best month for Bitcoin in terms of average return to history, often referred to as “uptober” by crypto investors.
This $ 3.2 billion week pushed Bitcoin’s price over $ 123,996 on Friday, marked more than six weeks highly seen on August 14th for the world’s first cryptocurrency, Tradingview Data displays.
