Interest rate cuts lead to flood of global liquidity, driving crypto market upswing

An analysis has suggested that China’s economic stimulus measures and increasing global liquidity as central banks in major countries cut interest rates will lead to an explosive rise in the cryptocurrency market.
According to DLNews, David Brickell, international director at Canadian institutional cryptocurrency platform FRNT Financial, said, "Major central banks are
"We must not overlook the macroeconomic background in which interest rates have been lowered, global liquidity has increased, and a super-sized player, China, has even fired a bazooka to stimulate the economy," he said.
"In the short term, cryptocurrency funds flowed into Chinese stocks, but ultimately the flood of liquidity has led to a rise in the price of Bitcoin in particular," he said.
"The so-called 'Uptober,' which usually sees the cryptocurrency market rise in October, may have missed its first step," he said.
"However, the worst of the October upturn was due to deepening geopolitical tensions, weakening initial momentum and negative supply dynamics," he said.
Bitcoin typically sees good rallies ahead of U.S. elections," he added.