The narrative also explores the correlation between Bitcoin's declines and Federal Reserve policy axes. This observation indicates that Bitcoin's movements can serve as a leading indicator. It also suggests that it can provide insight into potential changes in broader market liquidity.

Cautious outlook towards crypto ETFs
McGlone draws parallels with his cautious view of crypto ETFs when BGCI launched in 2018. Accordingly, he says that it is inevitable that time plays a very important role. According to the economist, "Bitcoin's decline occurred before the Federal Reserve's pivots. This points to the importance of cryptocurrency's leading indicator nature. It may also underline what may be needed to revive liquidity."
Bitcoin and altcoin focused asset investment products have been experiencing a significant change in the past week. Accordingly, it witnessed an impressive inflow of $21 million for the first time in six weeks. These investments come in response to a combination of factors, including positive price momentum, concerns about U.S. government debt prices, and recent quagmires surrounding government finances. It was noteworthy that these entries took place at the weekend, especially on Friday.
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