• Crypto & Funx
• 05 Aug, 2024

Bitcoin price has significantly benefited from the heightened adoption from institutional investors.

The US 2024 elections will conclude soon and the Fed will likely initiate a rate cut in the next week. .

tions will conclude by next week, with pro-crypto candidates led by Donald Trump showing higher approval ratings.

Meanwhile, the Federal Reserve is expected to initiate another interest rate cut next week, in a bid to boost the country’s economic outlook.

Bitcoin Whales Shows No Sign of Relenting Soon

The demand for Bitcoin by whale investors has dramatically increased in the past year compared to any other previous crypto bull cycle. According to on-chain data analysis, the supply of Bitcoin on centralized exchanges has declined from over 2.7 million to below 2.3 million in the last seven months, fueled by the approval of spot BTC ETFs in the United States.

In the past four weeks, the US spot Bitcoin ETFs have registered a net cash inflow

Milestone was reached ahead of schedule thx to a Herculean run of inflows (esp for bunch of newborn ETFs) https://t.co/6sku5Nf58S

— Eric Balchunas (@EricBalchunas) October 31, 2024

Milestone was reached ahead of schedule thx to a Herculean run of inflows (esp for bunch of newborn ETFs)

— Eric Balchunas (@EricBalchunas)