The United States announced its GDP for the fourth quarter of last year, and the growth rate was slightly lower than expected. However, the difference was not much different and basically in line with expectations. The key point is that personal consumption expenditures remained strong in the quarter.

The 3% growth rate of consumer spending was much higher than the expected 2.7%. This data means that the economic growth of the United States is still very strong.

In the fourth quarter, the personal consumption expenditures (PCE) price growth rate was 1.8%, which was also higher than the initial value of 1.7%. Taken together, these data are still not conducive to future interest rate cuts.

Therefore, after the data was released, CME once again lowered its June interest rate cut expectations. Currently, it is only over 60%, not to mention March and May, which are basically out of the question.

Yesterday, 8 ETFs increased their holdings by 14,934 BTC (approximately $940 million), while Grayscale only reduced its holdings by 2,223 BTC (approximately $139.8 million).

Among them: BlackRock increased its holdings by 10,140 BTC (approximately $638 million); Fidelity increased its holdings by 4,066 BTC (approximately $255.9 million).

Wall Street is FOMO on one side and FUD on the other. Those who hold chips will go crazy. For example, consortiums such as Fidelity estimate that Bitcoin will reach US$100 million per coin in 2035.

Recently, analysts at Morgan believe that Bitcoin may fall to around $42,000 after the halving.

No matter which way it goes, one thing is certain. The macro trend of BTC in the future is to keep rising until it exceeds the market value of gold and becomes the world's number one rare value asset.

Then there will be many speeches by the Federal Reserve Voting Committee in the past two days, focusing on the speeches of 2024 Voting Committee Mester and tonight's speech by FOMC Permanent Voting Committee Fed Williams, which will have a certain impact on the market.

Then there is no doubt that the main force in this wave of pullbacks is institutions. Just the night before yesterday, the single-day trading volume of ETFs was close to 7.7 billion US dollars, significantly setting a new single-day trading volume record.

The previous highest single-day trading volume was US$4.66 billion. I remember that was when the ETF had just been listed, and most of the transactions came from Grayscale GBTC's crash. Of the 29 days this month, the Bitcoin ETF had only 7 days with negative inflows, and the remaining 22 days were all positive.

This wave of US$7.7 billion transactions is dominated by buying, so it is full of gold. With the crazy rise in the pie, more institutions are beginning to covet the spot ETF pie. Among them, top investment bank Morgan Stanley has released news that it is studying adding spot ETFs to its brokerage platform for customers to trade.#热门话题