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The statement of the Bank of England on the return to the quantitative easing (QE) program since yesterday, led to the rise of stock indices, the growth of Bitcoin and some altcoins. The British Central Bank, with its statement, tried to stop the catastrophic fall in the value of the national currency, which led to large-scale sales of the dollar and a sharp decrease in the yield of US bonds (treasuries).
Treasury highs put pressure on the value of risky assets – cryptocurrencies and stocks, provoking new waves of liquidity outflows.
Yesterday’s sharp correction in US bond yields indicates investors’ hopes for a loosening of US monetary policy. Perhaps there is a basis for these forecasts, the White House is planning a reshuffle in the economic bloc. Insiders predict the departure of Finance Minister Jeannette Yellen, which will also be good news for the cryptocurrency market.
Yellen demanded tough measures and restrictions on digital currencies, full fiat issuance of stablecoins, and insisted on the verification of crypto wallets used to withdraw and replenish the exchange deposit.
However, now, in order to continue the growth of the Bitcoin rate, it is necessary to find out the position of the Fed, whether the department will follow the example of the Bank of England. The British Central Bank will buy bonds until October 14th. The Fed is still engaged in a reverse operation of selling bonds within the QT.
Any hint of a suspension of buyouts by the financial regulator will support the growth in the value of risky assets. Otherwise, the Bitcoin rate will return to the sideways.
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