The United States Senate has recently passed the bill to get signed by President Biden, in order to increase the debt ceiling limit up to Jan 1st, 2025. Moreover, Federal Reserve Officials have indicated a sign of a potential pause in interest rates most likely in this month. The global stock markets including Chinese, European and American markets have witnessed a massive rally in their respective stocks.
The latest development in the field of crypto markets has come out from the country of Hong Kong, where the govt has begun opening up new ways for retail investors to participate in the crypto market which could be a game-changing factor for the bitcoin bull market. Not only this, the largest social media messaging platform in China, WeChat, has started offering its users to see real-time BTC prices in yuan.
The Volatility Index ($VIX) has dropped to 14.85 pts, the lowest this year (at the time of writing this article), while the Top Stock Market Indexes such as S&P 500, Nasdaq Composite, FTSE 100 etc have recorded significant growth in this week. The upcoming weeks, more accurately the 3rd week of June is going to be huge, as the Federal Reserve's decision on interest rates would be a catalyst for the bitcoin bull market.
At the time of writing this article, BTC is trading around $27,000 and has a market capitalization of $524 Billion.