according to the materials of the site - By crypto.news
On Monday, prices for Bitcoin and cryptocurrencies like Jasmy Coin, Sui, and Algorand are rising, with Bitcoin reaching its historical maximum.
The price of Bitcoin (BTC) has exceeded $122,000 for the first time, while Jasmy (JASMY), Sui (SUI), and Algorand (ALGO) surged more than 16% on Monday. The total market capitalization of all coins rose by 3.6% to $3.8 trillion.
Bitcoin and other cryptocurrencies are rising for four main reasons: increased inflow of funds into ETFs, the upcoming Cryptocurrency Week, potential tightening of Federal Reserve funding, and strong growth in BTC.
The inflow of funds into crypto-ETFs is rapidly increasing.
There are signs that crypto-ETFs are very popular among American ETFs. Data shows that spot Bitcoin ETFs saw an inflow of more than $2.72 billion last week, significantly exceeding the $769 million from the previous week. Thanks to this total inflow, it has surpassed $52 billion.
The inflow of funds into Ethereum ETFs last week increased by more than $907 million, exceeding $5.3 billion. Other crypto-ETFs, such as the Staking Solana fund and Teucrium XXRP funds, also received significant inflows.
These figures indicate high demand from American investors, which is a positive factor for the coin.
Bitcoin and altcoins such as Jasmy, Algorand, and Sui are also rising in price in anticipation of the upcoming Cryptocurrency Week. This week, Republicans in Congress will consider three bills.
The GENIUS Act aims to regulate stablecoins and has already been passed by the Senate. As a bipartisan bill, it is likely to be passed by the House of Representatives and signed. Policymakers will also consider the CLARITY bill and a bill aimed against CBDCs. CLARITY aims to create an effective regulatory framework by separating the roles of the Securities and Exchange Commission (SEC) and the Futures Commission (CFC). The bill against CBDCs will prevent the Fed from creating a central bank digital currency.
Potential decrease in the Federal Reserve's interest rate
The rally in the cryptocurrency market is taking place against the backdrop of investors' expectations for a decrease in interest rates this year. The initial decrease may depend on inflation data this week. A lower-than-expected figure will increase the likelihood of a rate cut by the Fed in July.
Analysts from Goldman Sachs and Morgan Stanley forecast two rate cuts this year and several more in 2026. Cryptocurrencies perform well when the Fed eases monetary policy. This also explains the rise in the stock market and the fall in bond yields.
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