Bitcoin Price Could Refresh ATH with US Data: Rise to Accelerate on Friday! - Coin Bulletin

robot
Abstract generation in progress

QCP Capital analysts are expecting a new uptrend in the cryptocurrency market with the data coming from the US on Friday.

Cryptocurrency research firm QCP Capital said that the non-farm payroll data to be released by the US on Friday will bring a new surge to cryptocurrencies.

Analysts, while pricing in the possibility of interest rate cuts in June and July as 0%, expressed that expectations of an increase continue, emphasizing the critical role of non-farm payroll data.

BlackRock's Bitcoin ETF is breaking records

However, it was stated that BlackRock's Bitcoin ETF is the fastest-growing ETF in history, and this will be reflected in the price.

BlackRock's BTC spot ETF has set a record as the fastest ETF to exceed $20 billion in history. Following this success, the Securities and Exchange Commission (SEC) of Thailand approved the first BTC spot ETF, and Australia's first BTC spot ETF started trading today.

Unprecedented entry opportunities for traditional capital worldwide have been promoted to support the price of Bitcoin.

This momentum is expected to be further supported by the Non-Farm Payrolls (NFP) data to be announced this Friday. The markets are pricing in a 0% probability of interest rate cuts in June and July, but a weak data could change this situation. This could be a catalyst for BTC to break all-time highs.

BTC0.9%
ATH22.09%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)