K33 Research as the market enters the fourth quarter of 2024 Bitcoin (BTC) He outlined various bullish factors for .
According to the latest report, changes in global monetary policy and new institutional developments are likely to increase Bitcoin’s upward momentum.
Emphasizing how macroeconomic trends create a favorable environment for cryptocurrencies, the report said, “The FED’s policy change has already created momentum, and China’s efforts to increase liquidity are likely to further increase global market activities.”
Another important factor fueling optimism is the approval of BlackRock’s spot Bitcoin ETFs for institutional options trading. In September, the U.S. Securities and Exchange Commission (SEC) approved options trading for the iShares Bitcoin Trust (IBIT), and K33 Research believes this move will trigger increased demand in the ETF market.
In K33 Research’s report, “Another fundamentally bullish development occurred in September with the SEC’s approval of IBIT options. “We expect these options to lead to a new wave of ETF inflows to meet demand for options exposure.”
While the SEC’s approval marks a significant milestone, K33 also highlighted the need for further regulatory approvals from the Commodity Futures Trading Commission (CFTC) and the Office of the Comptroller of the Currency (OCC) before options trading on IBIT can officially begin. Still, the approval is seen as an important step in integrating institutional products into the Bitcoin market.
*This is not investment advice.
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