Bitcoin Price Surges as Mt Gox and German Government Pressures Ease
Following the end of the selling pressure created by Mt Gox and the German government, Bitcoin (BTC) has started to rise. The positive agenda, consisting of various topics, has been effective in the rise of BTC.
Difficult Start for the Crypto Market in July
The crypto market had a challenging start to July. The announcement that Mt Gox would repay $9 billion in BTC to its creditors and the subsequent BTC sales by the German government affected the cryptocurrency market. BTC fell to $53,500 amid a panic atmosphere.
Three Important Agendas in the Crypto Market
In recent days, there have been significant developments in the world of cryptocurrency. Better-than-expected inflation data in the US has increased the likelihood of a Fed interest rate cut. An assassination attempt on Bitcoin-friendly Donald Trump has also shaken the market, pushing BTC to $63,000.
Ethereum ETFs to be Launched This Week
Reports suggest that the launch of Ethereum exchange-traded funds (ETFs) is seen as a victory. It is expected that the Federal Reserve will cut interest rates at least twice by the end of the year. Analysts predict that the interest rate cuts will begin around September. Experts anticipate a decrease in interest rates without a recession and the start of a flow of money into the crypto sector.
Trump Makes a Move Against Biden
During a campaign rally, President Trump faced an assassination attempt against his rival, Joe Biden, describing it as a ‘vital move.’ Trump narrowly escaped the attempt after being injured in the ear. Election polls in the US suggest that Trump will receive over 60% of the votes following this incident. Trump, known for his moderate statements on cryptocurrencies and emphasis on the importance of Bitcoin, has become a popular figure.
Upcoming US Elections and Federal Reserve’s Interest Rate Cuts
The US elections will take place in November. The Federal Reserve’s plan to cut interest rates around the same time is raising bullish expectations. The current agenda also includes the spot trading of Et… (text incomplete)
The Launch of Spot ETH ETFs Expected to Boost Ethereum Prices
This week, the much-anticipated spot ETH ETFs are set to be released, with many in the crypto community viewing them as a potential game-changer for the market. Analysts are predicting that once these ETFs start trading, Ethereum will reach its all-time high.
The rise of Ethereum also signals a potential uptrend for altcoins. While not all altcoins are expected to follow suit, many that are correlated with ETH, such as Arbitrum, Uniswap, Optimism, Manta Network, and Lido, could see a surge in value as well.
