Viewpoint: Expectations of another rate cut drive demand for Bitcoin ETFs, Q4 ETFs may buy over 100,000 Bitcoins.

On October 4, Iliya Kalchev, an analyst from the digital asset platform Nexo, stated that expectations for another rate cut by the U.S. are rising, leading to a "shift in market sentiment" and attracting a new wave of demand from investors for Bitcoin ETF. "At the current pace, the inflow of funds in the fourth quarter could lead to over 100,000 BTC exiting circulation." However, Bitcoin's momentum will depend on several key events next week, including a speech by Fed Chairman Jerome Powell and the release of the Federal Open Market Committee (FOMC) meeting minutes. Investors are also looking forward to the delayed U.S. employment report, but its release date depends on the duration of the current U.S. government shutdown, which is the first occurrence of this kind since 2018.