Global #Federal Reserve

Some top analysts on Wall Street are suggesting that the US Federal Reserve's potential shift in stance on inflation could serve as a catalyst for a significant surge in the cryptocurrency market, potentially amounting to trillions of dollars. This forecast is driven by the anticipation of about $6 trillion in sidelined capital returning to the market as the Fed eases its hawkish stance.

Following many days of precipitous declines, the price of bitcoin had a roughly two-fold boost following the Federal Reserve's decision not to raise interest rates, but it promptly declined again.

On Wednesday, investors sold out U.S.-based spot bitcoin (BTC) exchange-traded funds (ETFs) at the fastest rate possible, despite Jerome Powell, the head of the Federal Reserve (Fed), discounting the likelihood of a rate hike.

With all the signs of central bank intervention, the sinking yen (JPY) abruptly changed course and spiked versus the dollar on Monday, causing Bitcoin (BTC) to trade at a modest premium on Japanese markets.