Exploring the Rising Trend of Bitcoin (BTC): Insights from a Renowned CEO
full version at en.coinotag
- Bitcoin’s price has surged by nearly 7% in the last 24 hours, but what’s behind this recent rise?
- Analysts suggest that Bitcoin, the world’s largest cryptocurrency, is increasingly aligning with traditional investor perspectives through US ETFs.
- Stéphane Ouellette, CEO of FRNT Financial, comments on the week’s events, highlighting the unprecedented participation of Wall Street in the Bitcoin market due to the recent development of Bitcoin ETFs.
Bitcoin’s price has seen a significant rise in the last 24 hours, with analysts attributing this to the alignment with traditional investor perspectives through US ETFs. This article explores the factors behind this surge and the implications for the crypto market.
Bitcoin’s Recent Surge
Bitcoin experienced a rise on Friday following a report showing a smaller-than-expected increase in US employment. This revived expectations of interest rate cuts, enhancing the appeal of speculative assets. This rally managed to offset most of the losses that occurred earlier in the week due to growing concerns about the Federal Reserve officials adopting a more hawkish stance and reduced demand for ETFs.
