Analysts at Crypto Insights Group have published a report that investment fund managers are “demonstrating some of the highest levels of crypto optimism” in a year. The number of funds investing in cryptocurrencies has exceeded 1,600, the experts said.
A report from Crypto Insights found that 55% of digital asset fund managers are not worried about the outcome of the US presidential election in November. But 45% are monitoring the situation closely before making adjustments to their investment strategies.
“Managers’ confidence is now at one of the highest levels of the year, despite political risks and mixed macroeconomic signals,” the report said.
The US jobs report released on October 4 changed the market participants’ beliefs – the probability of the US Federal Reserve System (Fed) cutting the rate by 25 basis points in November is now estimated at 95%, experts noted. According to them, the data on the labor market indicates the resilience of the US economy, and further growth of high-risk assets, including cryptocurrencies, is possible in the medium term.
The Bitcoin rate continues to hold above the support level at $60,000, which could be a signal for renewed growth, analysts believe.
Earlier, specialists from one of the largest American banks, JPMorgan, predicted an increase in demand for the first cryptocurrency.
