Investors, sensing a bailout, bet on risk
Bitcoin reached a low of approximately $93,300 yesterday morning following disappointing economic news in the U.S. What a huge difference each day makes! At 8:10 a.m. (EST), BTC is around $96,000 and some analysts foresee a macroeconomic shift on the horizon.
Risk assets seem to be benefiting now from expectations of an interest rate cut sooner than anticipated, according to James Butterfill, Chief Research Officer at CoinShares. "A disappointing payroll number on Friday could be the final nail in the coffin for [Federal Reserve Chairman Jerome] Powell," Butterfill told CoinDesk.
Bitcoin gained 15% during April. Virtuals Protocol (VIRTUAL), for its part, surged 150% last week. It is gradually approaching $2 (VIRTUAL was valued at $5 in January).
The AI frenzy is in full swing. However, a couple of specific things happened. Binance.US announced on Tuesday the inclusion of VIRTUAL on its list.
And yesterday, the team responsible for the AI agents ecosystem announced an update to a token distribution mechanism designed to boost demand, while also incorporating more experienced developers. In another positive push for the market, according to data from CoinGlass, open interest in futures linked to the spot price of VIRTUAL has just reached $186 million, up from $39 million the previous month (CryptoNews).
