A recent dovish shift in the outlook for monetary policy has played a sizable role in big gains for both crypto and traditional markets. The U.S. government on Friday will report on the employment situation for November and the data could add fuel to or snuff the recent advance for bitcoin (BTC). While optimism about what is looking like imminent U.S. regulatory approval of a spot bitcoin ETF is getting most of the attention as the reason for bitcoin’s move to $44,000 from $27,000 at the start of October, sharp declines in interest rates have surely played a role. Rate hopes have sparked gains across traditional markets as well, with the S&P 500 posting an 8.9% advance in November, long-dated bonds nearly erasing what had been historically large year-to-date losses, and gold rising to a
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