Cryptocurrency Market Weathers BTC and ETH Supply Shocks This Week
CryptoNewsTerminal Staff17 Aug, 2024
Cryptocurrency Market Weathers BTC and ETH Supply Shocks This Week
Singapore-based cryptocurrency exchange QCP Capital observed via its official Telegram channel that “there has been a noticeable bullish sentiment in recent macroeconomic readings.” It further explained that “inflation in the US is slowing down and the stock market has been rallying this week. Furthermore, expectations of global quantitative easing are increasing as major central banks such as New Zealand’s have cut interest rates. Additionally, the cryptocurrency market appears to have digested supply shocks related to BTC and ETH without incident this week. However, the market remains wary of a potential sell-off of BTC by the US government.
