[Analysis] "Bitcoin shows signs of rising on expectations for Fed easing policy... Exchange withdrawals surge"
Suehyeon Lee
Summary
- It was noted that expectations for the Fed's easing policy shift could lead to signs of a rise in Bitcoin.
- It was reported that the unexpected drop in employment indicators increases the likelihood of a policy shift by the Fed, which could work positively for Bitcoin.
- In the second half of June, Bitcoin withdrawal volume reached its highest level this year, as investors moved their assets to personal wallets or cold storage, reducing selling pressure.
As expectations grow for a monetary policy shift from the Fed, Bitcoin (BTC) is showing signs of an uptrend.
On the 3rd (local time), CryptoQuant author Novaque Research said, "The unexpected drop in employment indicators increases the possibility of an easing policy shift by the Fed, which could have a positive impact on Bitcoin."
They further analyzed, "In the second half of June, Bitcoin withdrawal volume recorded the highest level this year. On some days, more than 10,000 BTC left exchanges, which means that investors are transferring their assets to personal wallets or cold storage, effectively reducing selling pressure."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
