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Analysis: US money market funds have reached $6.2 trillion, and Bitcoin is expected to achieve a price breakthrough

Analysis: US money market funds have reached $6.2 trillion, and Bitcoin is expected to achieve a price breakthrough

Bitget2024/08/26 13:26

ChainCatcher news, according to Cointelegraph, according to Kobeissi Letter analysis, driven by expectations of an upcoming rate cut, U.S. money market funds have reached an all-time high of $6.2 trillion, and Bitcoin may also usher in a record price rise. Most of the inflows are driven by institutional investors because they expect the Fed to cut interest rates and adjust their portfolios... The era of high interest rates is coming to an end.

Investors increasingly expect the Fed to cut interest rates at its meeting on September 18. According to the latest data from the Chicago Mercantile Exchange FedWatch tool, the probability of a 25 basis point cut is currently 65.5%, and the probability of a 50 basis point cut is 34.5%.

At the same time, analyst Titan of Crypto said that expectations of rate cuts could push Bitcoin prices above $68,000.

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