Forget the Crypto Bros. Wall Street Is Driving the New Crypto Boom
The crypto market is on fire again, but this time, the fuel isn’t coming from “crypto bros” on social media. It’s coming from Wall Street, and it’s all based on a massive bet that the Federal Reserve is about to cut interest rates.
Ether, the second-largest cryptocurrency, is leading the charge, surging nearly 10% in the past 24 hours to $4,723.26, bringing its all-time high of $4,878.26 within sight. This rally is, according to some market observers, a calculated move by large, institutional investors who are flocking to risky assets in anticipation of a major shift in U.S. economic policy.
The Altcoin Surge
While Bitcoin has been taking a breather, altcoins (a catch-all term for…
