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Opinion: BTC successfully broke through $67,000, which once again confirmed the bullish trend for 2025
Bitget2024/10/16 11:05
In its latest analysis, QCP Capital pointed out that BTC continues to remain resilient above the 65k level as betting markets point to higher odds of Trump's win. Crypto assets have been positively correlated to a Trump victory as his crypto policies are much friendlier and more supportive than Kamala Harris'.
US Equities ended lower amid ongoing corporate earnings release season, in particular ASML's report. ASML's earnings and outlook points to a slowdown in chip demand, causing a selloff in semiconductor stocks like NVDA and AMD.
However, the downward move in US Equities did not weigh down BTC as it powered higher to break 67k. This reaffirms the bullish outlook going into 2025.
As central banks enter a rate-cutting cycle, liquidity in the markets will increase, fueling a potential rally in risk assets. The ECB is expected to cut rates by 25bps tomorrow, while the PBoC continues to maintain a dovish stance. The Fed is expected to make two cuts this year, with four more anticipated in 2025.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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