Now the entire capital and financial market, no matter which sector, is revolving around the Federal Reserve, looking forward to the interest rate cut as a booster. As of now, the probability of a rate cut in September is estimated to be around 51%. If 1-2 rate cuts are achieved this year, there will be no doubt that the entire capital and financial market will usher in a bull market, especially the crypto market will definitely be a sustained bull market.
It has been a full month since the BTC halving, and the halving of the supply increment (acceleration) it brings is bound to have a positive and significant impact on the bull market. Now the approval of BTC and ETH spot ETFs also means that Bitcoin and Ethereum have become compliant assets, just like gold, but the approval of ETFs is neither a sufficient nor a necessary condition for the continued rise of the crypto market, but interest rate cuts are. Because the passage of ETFs only introduces Bitcoin and Ethereum into the traditional financial market and recognizes its compliance. In layman's terms, there are more possible buyers. However, if the crypto market performs poorly or there are better capital investment opportunities, these possible buyers will not continue to enter the crypto market. Then Bitcoin and Ethereum and other altcoins may find it difficult to create or maintain the ATH myth for a long time. Now the US dollar is the largest and most typical opportunity cost in the global capital financial market. Once this opportunity cost is reduced, it will be exciting, and a lot of wealth will be reorganized again. However, theory is theory, and facts are facts. In January, the US Securities and Exchange Commission approved the Bitcoin ETF, and in April, the Hong Kong Securities and Exchange Commission approved the Bitcoin and Ethereum ETF. In fact, it was not shocking and was expected by everyone. However, the Ethereum ETF approved by the SEC the day before yesterday shocked countless people. I said several times at the beginning of this year that the Ethereum ETF would not be approved this year, but a few days before the Ethereum ETF was approved, I 100% asserted that Ethereum ETF would be approved this month. This historic reversal may be a premonition that the Ethereum ETF must be approved under some pressure. What reminds us most is the election in the United States in November this year. Both Biden and Putin expressed their love and welcome for cryptocurrencies, especially Putin, who is crazy about and holds a large amount of cryptocurrencies himself. This is of course closely related to canvassing for votes, but all these show that:
Spring is not far away
