"The upward momentum has been reinforced by the Federal Reserve's shift toward easier policy and by a futures market tilted to the long side, where bears have so far failed to force another wave of bull liquidations during attempts to cap the rally. With the Fed delivering a 25-basis-point rate cut on Wednesday and indicating more reductions to come, risk appetite has extended into digital assets fuelling the bull run."
"Bitcoin researcher Axel Adler Jr. reinforced this view, assigning a 70% probability to new highs based on three factors. He pointed to balanced technical conditions reflected in a near-zero Short-Term Holder MVRV Z-Score, a contango structure in futures that signals strong demand, and ongoing institutional inflows into U.S. spot bitcoin ETFs. Adler acknowledged the potential for a short-term dip to $114,000 to clear liquidity but argued that the probability of a breakout to fresh highs"
Bitcoin corrected 0.1% after reaching monthly highs near $118,000. Federal Reserve easing, including a 25-basis-point cut and guidance for further reductions, increased risk appetite across markets. CME FedWatch indicates an 80% probability of an additional 50 basis points of cuts this year. Major U.S. equity indices hit simultaneous record highs. Crypto markets mirrored equity optimism with futures showing a long bias, only mild long liquidations, and renewed spot bitcoin ETF inflows. A bitcoin researcher assigns roughly a 70% probability of new highs, citing near-zero Short-Term Holder MVRV Z-Score, futures contango, and institutional inflows, while noting a possible short-term dip to $114,000 to clear liquidity.
Read at London Business News | Londonlovesbusiness.com
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