Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.
Share prices of Bitcoin miners soared as high as 24.4% on Oct. 28 as Bitcoin rallied over $70,000 — with an analyst pointing to an increasingly favorable macroeconomic climate and miners’ continued diversification into AI.
“Deficit spending and lower interest rates are driving global liquidity higher [while] investors are fearful of high inflation over the long term, as evidenced by poor performance from treasury bonds since the Sept[ember] rate cut,” Mitchell Askew, head analyst at Bitcoin (BTC) mining firm Blockware told Cointelegraph.
As such, investors are turning to the Bitcoin markets where Bitcoin mining stocks are trading at a “beta.”
