Expect Unprecedented $4 Trillion Market Cap Surge: Crypto Analysts Forecast Major Altcoin Rally Including Bitcoin (BTC)

• US economic data and a dovish Fed spur market optimism, setting the stage for a post-summer altcoin surge as retail investors eye returns.
• US job data miss sparks rate cut hopes, driving down US 2-year Yields.
• Crypto ETFs swell by $378.3M amid softer dollar expectations.

Recent US economic data and a dovish Federal Reserve have sparked market optimism, setting the stage for a potential altcoin surge as retail investors look for returns.

US Economic Data and Federal Reserve’s Influence on Financial Markets

Recent data released from the US provided a visible lift to the market, also supported by a dovish Federal Reserve and the Quick Rate Adjustment (QRA). The employment data released on Friday depicted numbers weaker than forecasted, with Non-Farm Payrolls showing net additions of 175,000 jobs against the predicted 240,000. The Unemployment Rate also rose modestly to 3.9% as opposed to the anticipated 3.8%, whereas the Month-over-Month Average Hourly Earnings increased by a mere 0.2%, less than the expected 0.3%. These numbers indicate defusing inflation concerns, thus shaping the coming monetary policy.

Cryptocurrency Market Response

The cryptocurrency market reacted positively to the general financial market. Consequently, the Bitcoin spot Exchange Traded Funds (ETFs) experienced significant net inflows totalling $378.3 million. The resurgence of interest was spotlighted by the ... Read the full article for FREE at COINOTAG!