Viewpoint: Expectations of another interest rate cut drive demand for Bitcoin ETFs, with Q4 ETFs potentially purchasing over 100,000 Bitcoins

ChainCatcher news, Nexo analyst Iliya Kalchev stated that expectations for another interest rate cut in the U.S. are rising, triggering a "shift in market sentiment" and attracting a new wave of demand for Bitcoin ETFs from investors. "At the current pace, inflows in the fourth quarter could lead to over 100,000 BTC being withdrawn from circulation." However, Bitcoin's momentum will depend on several key events next week, including the upcoming speech by Federal Reserve Chairman Jerome Powell and the release of the Federal Open Market Committee (FOMC) meeting minutes.

Investors are also looking forward to the delayed release of the U.S. employment report, but its publication date depends on the duration of the current U.S. government shutdown, which is the first occurrence of this kind since 2018.