U.S. Treasury Secretary Janet Yellen expressed confidence in the stability of trade in the country, which raises optimism for the market and may positively affect cryptocurrencies.
Yellen's Optimism Affects the Market
Speaking on May 13, Yellen emphasized the importance of achieving frictionless trade, enhancing the appeal of the U.S. as an investment destination. Her remarks could influence markets, boosting investor confidence.
Crypto Market Responds to Positive Signals
Historically, positive announcements regarding trade policy have contributed to increased market confidence and capital inflows into risk assets. Currently, Bitcoin (BTC) is trading at $102,519.75, displaying an 8.55% gain over the past week.
Future of Institutional Investments in Bitcoin
The Coincu research team anticipates that positive policy signals could result in increased crypto asset allocations by institutions. As macroeconomic conditions stabilize, institutional capital is likely to flow into Bitcoin, driven by an increased risk appetite.
Janet Yellen's optimism regarding trade creates a positive atmosphere in the markets and may lead to increased investments in Bitcoin and other cryptocurrencies.
