The top cryptocurrency rallied nearly 40% in October, hitting a fresh record high of $66,975 as investors cheered positive seasonality and the launch of futures-based bitcoin exchange-traded funds in the U.S.
While key indicators favor a positive follow-through in the coming months, it may not be a smooth ride if the impending scaling back of stimulus, also known as the taper, by the U.S.
On Friday, analysts at Goldman Sachs brought forward their forecast for the first rate hike to July from Q3 2023, according to Bloomberg.
two-year Treasury yield, which is more sensitive to short-term interest rate/inflation expectations than the 10-year yield, nearly doubled to 50 basis points in October.
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