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The cryptocurrency market is growing in anticipation of a triple rate cut by the US Federal Reserve
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The cryptocurrency market is growing in anticipation of a triple rate cut by the US Federal Reserve

Dec 22, 2023

Analysis of futures trading on the Chicago Mercantile Exchange (CME Group) indicates that traders are 98% confident that in 2024, the Federal Reserve System of the United States will conduct at least three reductions in the base interest rate. Expectations of additional liquidity inflows are stimulating the growth of the cryptocurrency market, and Wall Street is showing stable growth.

It is important to note that from October 1st to December 20th, there has been an increase in the trading volume of dollar stablecoins in the cryptocurrency market, reaching $5.5 billion. This increase in the issuance of such digital assets has been recorded for the first time since November 15th of the current year, indicating increased investor interest in cryptocurrencies.

Remarkably, on Wall Street, symbolically, the most profitable stocks this year are those of several public Bitcoin miners. For example, while the overall Wall Street indices have grown by 41% (Nasdaq Composite) and 23% (S&P 500) since the beginning of the year, shares of the Bitcoin miner Marathon Digital have brought investors a profit of 622.8%.

Shares of other public Bitcoin miners in the United States are also demonstrating very high returns: HIVE Digital Technologies (+212%), Riot Platforms (+397%), Bit Digital (+426%), and Bitfarms (+565%).

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