The cryptocurrency market saw significant excitement as Bitcoin (BTC) surpassed the $35,000 mark, a milestone not achieved in over 17 months. While many market observers and analysts attributed this surge to the anticipation of spot ETF approvals, a well-known crypto asset trading firm, QCP Capital, had a different perspective. QCP Capital, based in Singapore, suggested that the recent rally was linked to macroeconomic factors. They pointed out that the lower-than-expected U.S. Treasury supply estimate for Q1 2024 had a notable impact on bond markets, ultimately favouring riskier asset classes. This was evident in the drop in the yield on the
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