Will the financial crisis end the bull run in cryptocurrencies? ?

In the first half of 2024, a Bitcoin spot ETF debuted on Wall Street, major U.S. presidential candidates endorsed cryptocurrencies, and BTC experienced its fourth quadrennial “halving” and hit a new market high.

In addition, Ethereum, the world’s second-largest cryptocurrency, is about to hit another milestone, with an Ethereum ETF that could launch in the U.S. as early as July 8.

But cryptocurrencies don’t exist in a vacuum, and the outside world has become increasingly unsafe, plagued by several major wars, extreme weather events, and persistent monetary inflation.

Given the current situation, a cross-border collapse of the traditional financial system by the end of this year is not inconceivable.

“It’s entirely possible that financial markets will see a major correction by the end of the year, although it may not trigger a full-blown crisis.”

What’s the trigger? It could be a correction in artificial intelligence stocks, “but I think the main focus is on debt markets,” Tasca said. The U.S. has been running a large fiscal deficit, which could make rate cuts unlikely, so bond and stock markets could be “affected by continued restrictive monetary policy.”

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