Bank of America says $166.4 billion flowed into money market funds in a single week, and that money may not return to stocks before rate cuts. I read the headline twice, and my first thought was: So what? The money will eventually find somewhere to go.
BTC is now around $83,200, up a little over 1%. ETH has fallen to around $2,500, and BNB and SOL are both down. The Fear and Greed Index is at 59, still in the greed zone. Only a little over 30% of assets are up, which tells me this isn’t a broad-based rally—money is being selective. If the money really weren’t coming back, BTC wouldn’t be holding at this level, so I’m not entirely convinced by Bank of America’s take.
If it were me, I’d consider adding to my long position in BTC between $82,000 and $83,000, with an initial target of $86,000. If it breaks through, I’d hold on for more upside. ETH is actually more worth watching: if it holds around $2,500, I’d buy in, with a target near $2,650. I’d stay away from altcoins for now. Those trending coins like TRUMP and PENGU can shoot up fast, but they can dump just as fast.
If cash just sits on the sidelines before rate cuts, then once cuts actually happen, everyone will rush to buy. Getting in then would mean buying the top. What do you think this time—will the money come back or not?
BTC is now around $83,200, up a little over 1%. ETH has fallen to around $2,500, and BNB and SOL are both down. The Fear and Greed Index is at 59, still in the greed zone. Only a little over 30% of assets are up, which tells me this isn’t a broad-based rally—money is being selective. If the money really weren’t coming back, BTC wouldn’t be holding at this level, so I’m not entirely convinced by Bank of America’s take.
If it were me, I’d consider adding to my long position in BTC between $82,000 and $83,000, with an initial target of $86,000. If it breaks through, I’d hold on for more upside. ETH is actually more worth watching: if it holds around $2,500, I’d buy in, with a target near $2,650. I’d stay away from altcoins for now. Those trending coins like TRUMP and PENGU can shoot up fast, but they can dump just as fast.
If cash just sits on the sidelines before rate cuts, then once cuts actually happen, everyone will rush to buy. Getting in then would mean buying the top. What do you think this time—will the money come back or not?