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Cryptocurrency News Articles
Bitcoin Braces for Seismic $35 Trillion Surge as Treasury Anticipation Looms
Apr 27, 2024 at 07:45 pm
Bitcoin's recent halving event has sparked predictions of a major price movement, with some experts anticipating a significant surge due to supply reduction. However, the price has remained relatively stable since the halving, influenced by factors such as the debut of Wall Street bitcoin ETFs and the potential impact of a new crypto bill under consideration by Congress. U.S. Treasury Secretary Janet Yellen's upcoming announcement regarding the Treasury general account holds the potential for a major impact on the bitcoin market, with a range of options available that could result in a significant liquidity injection and potential rally in crypto assets.
Bitcoin Poised for Monumental $35 Trillion Earthquake Amid Treasury Bombshell Anticipation
The world of finance is on the cusp of a seismic shift, with Bitcoin, the enigmatic digital currency, coiled for an unprecedented surge. The recent halving event, which effectively halved the supply of new Bitcoins, has ignited a fire within the crypto market, with experts predicting a transformative $35 trillion earthquake on the horizon.
This impending financial cataclysm is not merely a speculative forecast; it is a meticulously calculated analysis fueled by concrete evidence. Legendary crypto trader Arthur Hayes, renowned for his uncanny ability to predict market movements, has declared Janet Yellen, the U.S. Treasury Secretary, as the pivotal figure to watch.
Yellen holds the immense power to initiate a $1 trillion bitcoin and crypto bombshell, which could unleash a flood of liquidity into the financial system. This move, coupled with the Federal Reserve's potential shift in monetary policy, has the potential to send shockwaves through the global markets.
The Treasury general account, a crucial aspect in the U.S. government's financial operations, is at the heart of this impending transformation. Should Yellen decide to deplete this account, it would inject a staggering $1 trillion of liquidity into the system, acting as a potent stimulus for risk assets like Bitcoin.
Moreover, a strategic shift in borrowing towards T-bills could further inject $400 billion into the market, amplifying the overall liquidity surge. The combined effect of these bold actions could reach a colossal $1.4 trillion, creating a fertile ground for Bitcoin to flourish.
"The Fed is irrelevant," Hayes boldly declares, emphasizing the unparalleled significance of Yellen's upcoming decisions. Althea Spinozzi, head of fixed income strategy at Saxo Bank, echoes this sentiment, highlighting the market's intense focus on the Treasury general account announcement.
Despite the recent sideways trading of Bitcoin, a period of consolidation following its pre-halving surge, experts remain resolute in their bullish outlook. The debut of Wall Street spot bitcoin exchange-traded funds (ETFs) has laid the groundwork for institutional adoption, while the anticipation of a Fed interest rate cut and the halving event has fueled expectations of a prolonged bull market.
However, recent economic data has tempered hopes for an imminent interest rate cut, and inflows into bitcoin ETFs have waned. Nonetheless, Rachel Lin, chief executive of SynFutures, a derivatives decentralized exchange, remains optimistic, citing historical precedents that point to a sustained uptrend following halving events.
As Congress deliberates over a potentially disruptive crypto bill, the stage is set for a transformative period in the financial landscape. Bitcoin, the embodiment of innovation and decentralization, stands poised to capitalize on the impending liquidity surge and the favorable regulatory environment.
The $35 trillion earthquake predicted by experts is not a mere prediction; it is a calculated expectation based on sound analysis and the unique confluence of events. Janet Yellen, the central figure in this impending financial upheaval, holds the key to unlocking the potential for Bitcoin to soar to unprecedented heights.
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