According to experts, this bull period in the cryptocurrency market stands out from others with a different aspect.
Bitcoin has generally NASDAQ And S&P500 US-based markets such as and rise in technology stocks He followed the wave. While the same was true for this bull period, a difference compared to the others was a striking point.
In other bull markets US dollar index (DXY) and the rise in US treasury yields generally had a negative impact on the cryptocurrency market and a decrease in prices was observed. But in this bull market DXY And Despite the rise in US treasury yields The rise in Bitcoin and cryptocurrency markets continued.
Experts say this dollar losing strength And Increased global adoption of Bitcoin by both institutional and individual investors tied up.
In particular, the US’s approval of spot Bitcoin exchange-traded funds increased the number of Bitcoin investors in the country and accelerated the volumes entering the cryptocurrency market. Spot Bitcoin ETFs in the 2 months since launch Hosted more than 8 billion dollars of inflow.