#TopCoinsJune2024
If the Fed successfully lowers inflation and upcoming data remains stable, rapid market increases could be observed. The market, having priced in almost the worst-case scenario, might now begin to see a more optimistic future. Recent data from Farside Investors highlights an influx of $1.7 billion into BTC ETFs over five business days, bringing spot Bitcoin ETF entries to $15.5 billion since launch—surpassing the previous record of $12.7 billion.
QCP Capital notes Bitcoin and Ether may have reached local lows, suggesting potential benefits for risk assets from future Fed actions. This underscores the critical importance of the Fed’s forthcoming meeting and economic data releases for the cryptocurrency market.