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Goldman Sachs S-1 Filings, ETH ETFs & More
Armani Shirinyan
The Cryptocurrency Market Could Finally See a Reversal Thanks to These Five Major Factors
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The cryptocurrency market is gearing up for a potential turnaround in July, which will be fueled by several key factors. Here are five key indicators to watch:
Potential Federal Reserve Rate Cuts
The Federal Reserve could cut interest rates as early as September, according to recent reports, and again in December. markets Cryptocurrencies will gain liquidity from these cuts and could benefit from another positive CPI reading, analysts say.
Progress on Ethereum ETF S-1 Filings
Ethereum ETF issuers recently received their S-1 forms from the SEC, with a request for minor changes. Before being approved, these issuers must respond to criticism and resubmit, passing at least one more round of review. This is the result of attracting more institutional investors.
CFTC Chairman’s Position on Cryptocurrency Regulation
According to recent comments made by the CFTC Chairman, between 70% and 80% of cryptocurrencies are not securities, which underscores the need for the CFTC to regulate these assets in accordance with the Commodities Exchange Act. This position could end the long-standing debate over whether cryptocurrencies are best classified as commodities or securities, providing much-needed regulation. clarity and strengthening investor confidence.
Goldman Sachs Tokenization Projects
By the end of the year, Goldman Sachs wants to launch three tokenization initiatives, with an emphasis on the US and European markets. These initiatives, led by tokenization and cryptocurrency enthusiast Mathew McDermott, have the potential to attract significant institutional interest and investment in the cryptocurrency business.
JPMorgan’s bullish outlook on Bitcoin
In a report released today, JPMorgan predicts a bullish rebound for Bitcoin in August. Despite recent market declines, the bank is still bullish on Bitcoin outlook. The analysis notes that less downward pressure is expected as the recent wave of crypto liquidations fades. To better reflect the current state of the market, JPMorgan also lowered its estimate for year-to-date crypto net inflows from $12 billion to $8 billion.
About the author
Armani Shirinyan
Arman Shirinyan is a trader, cryptocurrency enthusiast and SMM expert with over four years of experience.
Arman firmly believes that cryptocurrencies and blockchain will be in constant use in the future. Currently, he focuses on news, articles with in-depth analysis of crypto projects and technical analysis of cryptocurrency trading pairs.