Bitcoin is about to snap a seven-month winning streak due to several factors, including a slowdown in demand for spot ETFs.appears on track to end a seven-month winning streak. Still, the largest token by market value is likely to become more dominant in the crypto market, according to one analyst.
“The upcoming Quarterly Refunding Announcement on May 1 could also see higher issuances of short-term U.S. bills. This will drain the RRP, which currently has USD 400 billion, and also increase liquidity,” QCP said in a market note.on Monday it plans to borrow more in the April to June quarter. Higher-than-expected borrowing means more bond supply, higher yields or risk-free rates and less reason to invest in risky assets.
The breakout means bitcoin could continue to outshine alternative cryptocurrencies in the coming months.
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