CDS Crypto News Bitcoin Bull Run Awaits Potential 2024 Surge, Driven by Fed Signals and FTX Dividend
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Bitcoin Bull Run Awaits Potential 2024 Surge, Driven by Fed Signals and FTX Dividend

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Bitcoin Bull Run Awaits Potential 2024 Surge, Driven by Fed Signals and FTX Dividend

FTX Dividend and $8 Billion Inflow Could Trigger Bitcoin Bull Run

FTX Dividend and $8 Billion Inflow Could Trigger Bitcoin Bull Run

According to observations from the most recent 10x Research report, Bitcoin may be poised for a huge surge by the end of 2024. The report talks about a paradigm shift in light of the factors influencing the cryptocurrency market and seasonal patterns while also highlighting the year’s volatility thus far. As the proposed $5–$8 billion inflow has the potential to incite bullish sentiment, Markus Thielen, the founder of the platform, clarified that the FTX dividend is a primary emphasis.

There’s a possibility of a melt-up in risk assets, as the Fed (United States Federal Reserve) seems to have raised the level of the S&P 500 at which they would intervene to protect investors, signaling the potential for further rate cuts — often referred to as the ‘Fed put.’ As a result, many investors are likely to reposition their portfolios in anticipation of 2025.

Thielen

Bitcoin’s Historical Performance Suggests Strong Year-End Rally, Says 10x Research

The 10x Research report highlights the past strong performance of Bitcoin between October and March. Given the prior market cycles of 2014, 2017, and 2021, the research makes the speculative assumption that this trend may recur this year.

While our contrarian bearish outlook since March/April was based on various factors, Bitcoin’s 2024 performance has once again followed its seasonal pattern — just as it did in 2023.

the report

Several outside variables that might serve as triggers for Bitcoin‘s year-end performance are taken into account in this analysis. Potential macroeconomic drivers of the price of bitcoin include the US Federal Reserve’s interest rate decisions, fears about inflation, and the dynamics surrounding the US election. The research also highlights the asset’s history of drawdowns of up to 70% in prior cycles and advises investors to exercise caution despite the alignment of possible bullish drivers for Bitcoin.

The two key levels to watch for Bitcoin are the previous cycle high of $68,330 and the 21-week moving average […] Managing trades around these levels is essential for effective risk management […] This may involve selling during volatile periods, even at less-than-ideal levels.

the report

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Bitcoin Bull Run Awaits Potential 2024 Surge, Driven by Fed Signals and FTX Dividend
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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