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- 🎃 Halloween is here! Four GDOGs line up! 👻
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Bitcoin ETF net inflows reached $15 billion, political pressure triggers a bullish market
According to Gate News bot, Markus Thielen, the founder of 10x Research, recently stated that since mid-April this year, the inflow of funds into Bitcoin ETFs has significantly increased, totaling $15 billion. This phenomenon is mainly attributed to pressure from politicians on the Federal Reserve (FED).
Trump publicly called for Federal Reserve Chairman Powell to lower interest rates to 1% and resign, while Federal Housing Finance Agency Director Bill Pulte and Senator Cynthia Lummis also urged Powell to step down. At the same time, the minutes from the Federal Reserve’s July meeting showed that officials had differing views on policy.
Thielen believes that the continuous inflow of ETF funds and increasing pressure for interest rate cuts are prompting previously hesitant traders to re-enter the market, driving a recovery in bullish momentum for cryptocurrencies. Combined with seasonal performance in July and macroeconomic factors, the market still supports further upward movement.