Bitcoin (BTC) Prices Near $64K as BTC Futures Attract Billions; BoJ’s Hike Pause Bumps Risk Assets
Traders are feeling positive about the future as macroeconomic data points towards a preference for riskier investments like bitcoin. According to experts at QCP Capital, the US 2Y/10Y treasury spread, which serves as an indicator of recession, has been inverted since July 2022. However, recent data shows a steepening to +8bps, indicating a shift towards risk-on assets and market optimism.
This positive outlook suggests that investors may be turning towards assets like bitcoin in the coming months. As economic indicators continue to show signs of improvement, it is likely that riskier bets will become more attractive to traders looking for higher returns.
Overall, the recent data is a promising sign for the cryptocurrency market, as it indicates a growing appetite for risk and a move towards assets like bitcoin. Traders will be keeping a close eye on these macroeconomic trends in the coming months to see how they may impact the market.
