According to Cointelegraph, on September 19, the price of BTC broke through $63,000 at the opening of Wall Street, hitting a three-week high. Earlier, the Federal Reserve announced a sharp interest rate cut of 0.5%, triggering market optimism.
QCP Capital pointed out that the U.S. 2-year/10-year Treasury yield spread has been inverted since July 2022, but has recently steepened to +8 basis points, reflecting market optimism and preference for risky assets.
Traders Byzantine General and Michaël van de Poppe said that the BTC market is strong and expects prices to continue to rise.
Data from CryptoQuant founder Ki Young Ju shows that institutions are no longer shorting BTC on a large scale, and CME Bitcoin futures net positions have fallen by 75% in the past five months.
British investment firm Farside Investors confirmed that the U.S. spot Bitcoin ETF had a net outflow on September 18, in contrast to a net inflow of $187 million the day before.
