GaborGurbacs,Tether’sadvisor,reveals that the expansion of the Bitcoin credit market will fuel the next large Bitcoinrally,driven by loans taken in Bitcoin from financialinstitutions.
Points
- ExpansionoftheBitcoincreditmarketwillfuelthenextlargeBitcoinrally.
- FinancialinstitutionsareincreasinglyofferingloansinBitcoin.
- TheBitcoin-basedcreditmarkethasformedthroughspotBitcoinETFs.
- TherecentU.S.unemploymentreportimpactsBitcoin’spricedynamics.
- TheU.S.government’smoneyprintingpolicycontributestomarketmovements.
GaborGurbacs,an advisor atTether,predicts that the expansion of the Bitcoin credit market will fuel the next significant Bitcoinrally.He refers to the increasing trend of financial institutions offering loans inBitcoin,particularly by major TradeFiplayers.
Gurbacs notes that while many traders may still be unaccustomed to lending or borrowingBitcoin,a large Bitcoin credit market has already formed through spot BitcoinETFs,and this market is expandingrapidly.
“Bitcoin-basedcredit markets areexpanding.It’llfuel the nextrally,”the expert pointedout.
“Bitcoin-basedcredit markets areexpanding.It’llfuel the nextrally,”tweeted Gabor Gurbacs on July3,2024.
Today,Gurbacs also commented on the recentU.S.government money printingpolicy,which resulted in more than$6trillion being printed out of thinair.He suggests that thispolicy,combined with the expanding Bitcoin creditmarket,will have significant implications forBitcoin’spricedynamics.
U.S.UnemploymentReport
Bitcoin briefly fell below$60,000as a reaction to the release of theU.S.unemploymentreport,which exceededanalysts’negativeexpectations.InJune,1.858million Americans sought unemployment versus the predicted figure of1.84million.The number of initial unemployment claims at the end of June comprised238,000,exceeding235,000,which wasforecast,with the previous value standing at233,000.This metric has been surging for the ninth consecutiveweek,making it the longest period in the past fiveyears.
解説
- TheexpansionoftheBitcoincreditmarket,drivenbyloanstakeninBitcoinfromfinancialinstitutions,isexpectedtofuelthenextlargeBitcoinrally.
- SpotBitcoinETFshaveplayedasignificantroleinformingthiscreditmarket,whichisrapidlyexpanding.
- TheU.S.government’smoneyprintingpolicyandtherecentunemploymentreporthavenotableimpactsonBitcoin’spricedynamics.
- Increasedunemploymentclaimshighlighteconomicchallenges,influencingmarketsentimentandBitcoin’sperformance.
- InvestorsshouldmonitorthesetrendstounderstandpotentialmarketmovementsandtheimplicationsforBitcoin.