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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.
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