Despite the profits, analysts highlight an optimistic context, driven by positive flows in ETF, the support of large companies and the expectation of a low rate of fees by the Fed.
The cryptocurrencies They operate disparate this Thursday, July 24. Despite this, Bitcoin (BTC)main market asset, progress slightly and is one step away from reaching US $120,000, according to Binance. Meanwhile, the Ethereum (eth) rises 3.7% au $ 3,745.
The other Altcoins operate disparate: In that framework, Staked Ether Lido It is the one that progresses the most with 3.7%, while Dogecoin loses 1.8%.
Institutional interest in ETFs is renewed
In this context, analysts agree that institutional interest continues to increase. This contributes several factors: on the one hand, the recent approval of laws favorable to crypto ecosystem in the United States; On the other, the decisions of large companies, such as Trump Media, which have begun to incorporate cryptocurrencies into their balances.
In addition, traditional bank also begins to give opening signs. Financial Times revealed this week that JP Morgan Chase evaluates offering loans supported by cryptocurrencies such as Bitcoin and Ethereum. It would be a significant turn in the bank’s position against digital assets, considering that their CEO, Jamie Dimon, described them as “fraud” in 2017. However, more recently, Dimon himself declared: “I defend your right to buy Bitcoin. Go ahead.”
Finally, the crypto market is underpinned by the expectations of a change in the monetary policy of the Federal Reserve. The latest macroeconomic indicators reinforce the idea of a possible low rate in September, which has historically favored risk assets, including digital.
Source: Ambito
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