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
PIPPIN Market Cap Surpasses $120 Million, Up Over 60% in the Last 24 Hours
Arthur Hayes: Maybe Monad Could Be the First to Fully Unlock Tokens and Challenge Ethereum and Solana
Kazakhstan's National Bank Plans to Allocate Up to $300 Million to Invest in Cryptocurrency
24-Hour Spot Funding Flow: ETH Net Outflow of $139 Million, ZEC Net Outflow of $11.58 Million
Santiment: "Buy the Dip" Strategy Fading as Ethereum Nears $3,200 Strong Resistance Zone
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]