Weekend Brief - 19 Oct 24
1/ #BTC rallied 10.48% this week, hitting a high of $69,000. With no major macro headwinds expected next week, the big question is: will the rally continue? x.com/i/web/status/18480066747...
2/ #BTC ETFs saw $203.3M in inflows this week, closing on a 6-day winning streak. The SEC's recent approval for BTC ETF options on the NYSE adds more liquidity, signaling sustained interest from institutional investors.
3/ #Bitcoin dominance hits 58%, a level last seen in April 2021. With BTC approaching key resistance at 60%, a breakout could lead to a strong recovery in L1 coins. This will be one to watch.
4/ Japan’s inflation dipped to 2.5% from 3.0%, and the BOJ is likely to keep rates low. Meanwhile, US equities are near all-time highs, and the USD/JPY rally continues. All signs point to strengthening risk-on sentiment as the US election nears.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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