Is Bitcoin Entering Borsa Istanbul?

One of the factors influencing Bitcoin prices, the United States has seen interesting developments in spot Bitcoin exchange-traded funds (ETF) in recent weeks. Grayscale Bitcoin Trust has seen net outflows for five days in a row as a result of Genesis’s bankruptcy. ETF markets and flows can directly affect cryptocurrency prices. The Current Situation in the ETF Market Quinn Thompson from Maple Finance questioned market reactions if ETF flows turn positive again. Thompson pointed out that despite the net outflows of the GBTC fund, major ETF providers maintained their access and new buyers did not make sales. In addition, Apollo’s CEO Thomas Fahrer stated that there was strong demand in the market despite GBTC making significant Bitcoin sales. The Impact of Economic Data on Bitcoin The Personal Consumption Expenditures (PCE) Index, which draws attention as an important inflation indicator for markets and the Federal Reserve, is considered a significant macroeconomic […]

Is Bitcoin Entering Borsa Istanbul?

One of the factors influencing Bitcoin prices, the United States has seen interesting developments in spot Bitcoin exchange-traded funds (ETF) in recent weeks. Grayscale Bitcoin Trust has seen net outflows for five days in a row as a result of Genesis’s bankruptcy. ETF markets and flows can directly affect cryptocurrency prices.

The Current Situation in the ETF Market

Quinn Thompson from Maple Finance questioned market reactions if ETF flows turn positive again. Thompson pointed out that despite the net outflows of the GBTC fund, major ETF providers maintained their access and new buyers did not make sales. In addition, Apollo’s CEO Thomas Fahrer stated that there was strong demand in the market despite GBTC making significant Bitcoin sales.

The Impact of Economic Data on Bitcoin

The Personal Consumption Expenditures (PCE) Index, which draws attention as an important inflation indicator for markets and the Federal Reserve, is considered a significant macroeconomic indicator in the United States. PCE data triggers expectations for Jerome Powell’s language about interest rates and possible cuts at the end of the year. According to data obtained from the CME Group’s FedWatch tool, the probability of interest rate cuts in May and June increased.

Federal Reserve Chairman Powell’s speeches and the PCE inflation report are critical for financial markets. The Kobeissi Letter and financial commentator Tedtalksmacro expressed their views on the Fed slowing down quantitative easing and the expected interest rate cuts by the end of the year.

As a result, factors such as ETF flows, PCE data, and Fed policies continue to have decisive effects on Bitcoin and the general crypto market. Investors and market observers are closely following these developments.

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