$BTC The macroeconomic landscape in recent days has been dominated more by speeches by Fed officials than by U.S. economic reports.
Policy cues from the Fed, especially the minutes of the May meeting of the Federal Open Market Committee, which will be released on May 22, and the number of U.S. unemployment claims, will continue to influence the market performance of risky assets.
At the same time, financial markets are paying more attention to global liquidity.
The crypto bull market remains vigorous, especially in the Bitcoin sector. Liquidity conditions are becoming more relaxed due to the increase in M2 money supply, which provides momentum for crypto assets such as Bitcoin to rise.
ETF funds and a strong rebound in Bitcoin
Recently, U.S. spot Bitcoin ETF funds have seen a strong rebound.
Although Bitcoin has experienced several weeks of adjustment after reaching an all-time high in March, ETF inflows have resumed growth, with inflows approaching $1 billion last week, the best performance since March.
The reason for this rebound is the increase in demand for Bitcoin ETF funds.
Due to the impact of the Bitcoin halving event, the amount of Bitcoin purchased by ETF providers has exceeded the supply of miners, showing that the market demand for Bitcoin remains strong. As of now, US spot ETF funds hold about 2.8% of the total supply of Bitcoin.
