Bitcoin's price has fallen by 3.56% to $107,254.18, influenced by the U.S. Treasury General Account (TGA) reaching $965 billion. The increase in the TGA, attributed to the recent government shutdown, has tightened market liquidity, impacting Bitcoin's price movement. Analyst Raoul Pal highlighted that the cash buildup in the TGA has removed liquidity from the market, limiting Bitcoin's potential gains. However, analysts anticipate a potential liquidity boost in November as government spending resumes and the Federal Reserve concludes its quantitative tightening program.
Bitcoin Drops 3.56% as U.S. Treasury Account Hits $965 Billion
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
