According to a recent research report from QCP Capital dated November 8th, the Bitcoin spot ETF experienced a staggering net inflow of $1.38 billion just yesterday. This surge can be attributed to the market’s buoyant sentiment following Trump’s election victory and the anticipation of a 25 basis point rate cut by the Federal Reserve, resulting in Bitcoin (BTC) climbing to $77,000 this morning. However, signs indicate that some of the so-called “Trump trades” are beginning to retract, as the U.S. dollar has relinquished the majority of its post-election gains. Bond yields have also stabilized within their recent range after a temporary shift. As investors scrutinize Trump’s controversial proposal of a 60% tariff on China alongside persistent concerns surrounding U.S. debt, it appears that Bitcoin’s risk premium may currently be lower than that of equities. This bull market for BTC could pave the way for a reinforcing cycle.
Source: https://en.coinotag.com/breakingnews/bitcoin-soars-to-77000-record-etf-inflow-and-market-reactions-to-trumps-victory-propel-btc-bull-market/