Saxo Bank: Rising ETF flows boost cryptocurrency sentiment, Bitcoin rises to three-week high

PANews reported on July 3rd that according to Jinshi, Saxo Bank analysts said in a report that Bitcoin rose to a three-week high as macroeconomic concerns eased and continued inflows into ETFs boosted cryptocurrency sentiment. They said that the trade agreement between the United States and Vietnam has increased market optimism, and tariffs are lower than people feared. The weak ADP private employment report released on Wednesday increased bets on the Federal Reserve's interest rate cuts, further supporting risk appetite. With the rise of BlackRock's Bitcoin ETF and the new iShares Ethereum ETF, institutional demand for cryptocurrencies remains strong.