Bitcoin Amid Rising Bitcoin-ETF Expectations and Macroeconomic Uncertainty

Currently, Bitcoin continues to maintain its level at around $35,000, demonstrating stable consolidation. The market has transitioned into an accumulation phase, indicating expectations and potential for growth. One of the key factors that could significantly impact the future movement of the market is the Bitcoin-ETF. However, it is still uncertain when they will be approved.

Director of Information Technology at Valkyrie, Mr. McClurg, expressed confidence that the application for a Bitcoin-ETF will be approved by the SEC by the end of November. This expectation motivates issuer companies to actively work on improving this investment instrument with the aim of attracting significant investments.

In recent days, the American stock market has experienced a rally, which may signal the beginning of more significant price increases in stocks towards the end of the year. According to Fundstrat's data, 80% of companies in the S&P 500 index reported profits for the third quarter, with 82% of these companies exceeding expectations on average by 7%.

Analysis from NDR indicates that the stock market is following a rare pattern that may signal substantial growth in the coming year. The economy remains stable, and the Federal Reserve appears to have concluded its aggressive interest rate hikes to combat inflation.

Meanwhile, the advisory group of the Treasury Department highlights the risk of the strengthening of the U.S. dollar, which could prompt foreign central banks to divest from Treasury assets to support their own currencies.

In Japan, there is a trend towards ending the ultra-easy monetary policy, which may lead investors to shift from U.S. Treasury bonds to Japanese bonds. Similar steps may be taken by Beijing, which is divesting from a larger quantity of U.S. Treasury bonds.

Simultaneously, the situation in the Middle East remains tense, causing concerns in the markets.