Analysis: $7 Trillion Money Market Fund Reserves Could Fuel Next Crypto Market Rally
BlockBeats News, September 9th. According to the Investment Company Institute (ICI) data, as of the week ending September 3rd, the total assets of U.S. money market funds increased by $52.37 billion, reaching a historical high of $7.26 trillion. Analysts believe that this huge influx of funds may drive the next round of rally for Bitcoin and other altcoins.
Coinbase's Institutional Research Director, David Duong, stated that as the Federal Reserve further cuts interest rates, retail funds may flow from money market funds to stocks, cryptocurrencies, and other assets. Jack Ablin, Chief Investment Officer at Cresset, pointed out that if the money market fund yield decreases from 4.5% to 4.25% or 4%, investors will reallocate funds to stocks and cryptocurrencies.
You may also like
Gainers
Latest Crypto News
Trump Says Fed Chair Should Cut Interest Rates, Reiterates Criticism of Powell
In the past 24 hours, the entire network liquidated $376 million, with the majority coming from the largest short position
The probability of a 25 basis point interest rate cut by the Federal Reserve in December is currently at 87.2%.
Trump: Will Announce New Fed Chair in Early Next Year
Coinbase International Site to Launch DASH Perpetual Contract Trading
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]