GaborGurbacs,Tether’sadvisor,predicts the next Bitcoin rally will be driven by the expanding BTC creditmarket,with significant loans taken in Bitcoin from financialinstitutions.
Points
- GaborGurbacspredictsaBitcoinrallyfueledbytheexpandingBTCcreditmarket.
- TheBTCcreditmarkethasgrownduetoBitcoin-basedloansfromfinancialinstitutions.
- SpotBitcoinETFscontributetotheexpansionoftheBTCcreditmarket.
- GurbacshighlightstheU.S.government’smoneyprintingpolicyasacontributingfactor.
- Bitcoinbrieflydippedbelow$60,000followinganegativeU.S.unemploymentreport.
Tether’sadvisor,GaborGurbacs,recently tweeted that the expansion of the BTC credit market is likely to fuel the next major Bitcoinrally.He noted that financialinstitutions,particularly big TradeFiplayers,are increasingly taking loans inBitcoin,creating a substantial BTC creditmarket.
Gurbacs emphasizes that while many traders may still be unfamiliar with lending or borrowingBitcoin,a significant BTC credit market has alreadyformed,bolstered by spot BitcoinETFs.This market is expandingrapidly,and according toGurbacs,it will be a key driver for the next Bitcoinrally.
“Bitcoin-basedcredit markets areexpanding.It’llfuel the nextrally,”Gurbacs pointed out in a tweet on July3,2024.
In hisanalysis,Gurbacs also commented on the recentU.S.government money printingpolicy,which has resulted in more than$6trillion being printed out of thinair.This policy has contributed to the economic environment that supports the growth of the BTC creditmarket.
Additionally,Bitcoin briefly dipped below$60,000as a reaction to the release of theU.S.unemploymentreport,which exceededanalysts’negativeexpectations.According to thereport,inJune,1.858million Americans sought unemployment versus the predicted figure of1.84million.The number of initial unemployment claims at the end of June was238,000,exceeding the forecast of235,000,with the previous value standing at233,000.This metric has been surging for nine consecutiveweeks,marking the longest period in the past fiveyears.
解説
- GaborGurbacspredictsthattheexpandingBTCcreditmarketwilldrivethenextBitcoinrally,highlightingtheroleoffinancialinstitutionsandspotBitcoinETFs.
- TheU.S.government’smoneyprintingpolicycontributestotheeconomicenvironmentfavorableforBTCcreditmarketgrowth.
- Bitcoin’sbriefdipbelow$60,000followinganegativeU.S.unemploymentreporthighlightsthemarket’ssensitivitytoeconomicdata.
- TheexpandingBTCcreditmarketreflectsgrowinginstitutionalinterestandthematurationofBitcoinasafinancialasset.