The cryptocurrency market may focus on this important metric from the USA following the decision on spot Bitcoin ETF applications.
In recent days, all eyes have been on the approval of spot Bitcoin exchange-traded fund (ETF) applications. If there are no surprises, the US Securities and Exchange Commission (SEC) is expected to approve these applications within this week.
After this process Announcement of data on the US Treasury’s quarterly debt programWhile the data in question is important for individuals investing in risk products such as ripto currencies on January 29 will be announced. Size of second quarter bond sales and maturity distribution of investors will significantly affect risk appetite is considered.
Treasury in August, for the first time in more than two years He said it would increase sales and predicted further increases. Next on November 1for the quarter, driven by slower sales of 10-year Treasury bonds. 776 billion dollars of borrowing He said he planned.
Especially due to increased debts after the Covid pandemic 3-month debt reports began to attract more attention from investors.
Making a statement on the subject, the head of capital markets and growth of decentralized credit market Maple Finance QuinnThompsonThe results to be announced on January 29 will affect the cryptocurrency market. may negatively affect stated:
Ahead of us is the QRA, which the Treasury will announce on January 29, which will not give as pleasing results for the markets as last quarter. Long-term rates are currently ~100 basis points lower, and Yellen must be looking to take advantage of this by maturing some debt. This should be a headwind for USTs.