Analyst: Rapid De-escalation of US-Iran Conflict, Morgan Stanley Bitcoin ETF Launch, and Other Catalysts Driving Bitcoin Price Higher
BlockBeats News, April 1st, according to CoinDesk's report, Trump stated that the Iran war is expected to end within two to three weeks, and not on the condition of reaching an agreement with Iran. He announced that he would deliver a national address at 9 p.m. ET on Wednesday. Iranian President Pezeshkiyan subsequently informed the President of the European Council that Tehran "has the necessary willingness to end this war," but requested assurances of not being attacked in the future.
Boosted by the above news, the Asia-Pacific stock market surged, and the S&P 500 futures index also rose accordingly. Compared to the stock market, the cryptocurrency market's reaction was relatively muted, with Bitcoin fluctuating between $65,000 and $73,000 throughout the entire war.
Two Prime CEO Alex Blume pointed out that there are three major catalysts that could drive Bitcoin higher in the second quarter: the launch of Morgan Stanley's Bitcoin ETF, continued funding for Bitcoin purchases through Strategy's STRC preferred stock, and the rapid resolution of the Iran war. The Bitcoin ETF approved by Morgan Stanley this time has a fee of only 14 basis points, lower than the category average of 11 basis points, and will open channels to its 16,000 financial advisors and the $6.2 trillion in assets they manage.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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