According to Kobeissi Letter’s analysis, driven by the expectation of an upcoming interest rate cut, the US money market fund has reached a new historical high, and BTC may also see a record-breaking rise in price. Most of the funds inflow is driven by institutional investors, as they expect the Federal Reserve to cut interest rates and adjust their investment portfolios…the era of high interest rates is coming to an end.
Investors are increasingly expecting the Fed to cut interest rates at the meeting on September 18th. According to the latest data from the Chicago Mercantile Exchange FedWatch tool, the probability of a 25 basis point rate cut is 65.5%, and the probability of a 50 basis point rate cut is 34.5%. Meanwhile, analyst Titan of Crypto said that the rate cut expectation might drive BTC price to pump above $68,000. (Cointelegraph)
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