In the shadow of a devastating crash in the tech stock market, one that has left industry titan Nvidia reeling, a curious optimism persists – analysts are still placing their bets on the unpredictable wild horse known as Bitcoin. 🐎💸
Wall Street’s Impact: How Spot #ETFs Are Suppressing #Bitcoin Volatility #Matrixport #BTC #ETF #WallStreet #cryptocurrency
— Matrixport Official (@Matrixport_EN) January 28, 2025
Bitcoin remains resilient amid Nvidia stock chaos
Markus Thielen, the omniscient CEO of 10x Research, assures that Wall Street-backed Bitcoin ETFs will keep BTC’s volatility in check. “Bitcoin ascends as the U.S. dollar does,” he notes sagely, “It’s proof that more greenbacks 🤑 are flowing into the U.S. and some trickle into Bitcoin.”
According to Thielen, global liquidity, currently at $38 trillion, dictates BTC’s price more than the tremors of the tech market.
In a recent podcast, Thielen expounds on BTC’s price dynamics, asserting its independence from tech sector upheavals. He insists the asset responds more to global liquidity and Federal Reserve policies. Last September’s FOMC meeting marked the return of Bitcoin ETF inflows “after months of inertia,” he reveals. With the CPI data from December 2024 unveiled mid-January 2025, investor confidence in BTC resurged.
“We observed five consecutive days of Bitcoin ETF buying following a spell of uncertainty. Fed Governor Christopher Waller’s post-CPI data commentary, hinting at a potential rate cut, even suggested an incremental breath of relief as early as March. It resounded like a vote of confidence, revitalizing ETF activities.”
While Thielen envisions BTC’s price could crest between $130,000 and $190,000 in this bullish epoch, he acknowledges Bitcoin ETFs’ outflows tell a different story.
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2025-01-28 16:32