According to BiJie News:
It has been reported that since the Federal Reserve decided to cut interest rates, a significant influx of funds has entered the cryptocurrency market. From September 15 to 21, the crypto market recorded a second consecutive week of inflows, totaling as much as $321 million. This figure is slightly lower than the previous week’s inflow of $436 million, but it still reflects strong investor interest in the cryptocurrency market.
According to the latest digital asset flow report, Bitcoin-related investment products have been the primary beneficiaries of the recent inflows, attracting a cumulative $284 million. Additionally, $5.1 million has flowed into the short market for Bitcoin-related products. Market analysis firm CoinShares indicated that the Federal Reserve’s interest rate cut has sparked positive momentum in the cryptocurrency market, with weekly trading volume for Bitcoin investment products increasing by nearly 9%, reaching $9.5 billion.
Bas Kooijman, CEO and asset manager of DHF Capital, commented that a 50 basis point rate cut could continue to drive international gold prices upward, potentially setting new highs. He stated, “The Federal Reserve’s decision to cut rates marks the beginning of a long-awaited easing cycle, which may stimulate investor interest in risk assets like gold.” Kooijman also noted that the extent of the rate cut could pave the way for more aggressive measures in the coming months. He added, “The Federal Reserve’s dot plot indicates a larger rate cut than previously predicted by the central bank, which may further solidify the rise in gold prices.”
Overall, the Federal Reserve’s recent rate cut has fostered a very optimistic sentiment in both the cryptocurrency and traditional financial markets, suggesting that Bitcoin and other digital asset-related investment products may experience rapid growth.
Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or official views of FameEX.
