Interest in crypto assets increases with new ETH-based ETFs, while net inflow to Bitcoin ETFs was $535.3 million. Trump's statements at the Bitcoin 2024 conference led to a spike in Bitcoin's price to around $69,800.
Trump's pledge to make America the 'crypto capital' and halt Bitcoin sales by the government fueled Bitcoin demand. However, converting the 213,000 U.S.-controlled BTC, especially those seized in the Bitfinex hack, into state assets poses challenges.
BTC's surge also supported by declining economic price pressures indicated by the June PCE data, showing a rise in monthly PCE index from 0.0% to 0.1% and a year-over-year decrease from 2.6% to 2.5%.
#btc-price-movements #etf-launches #trumps-impact-on-bitcoin #pce-index-data #cryptocurrency-market-trends
Collection
[
|
...
]