{"id":596520,"date":"2024-03-06T13:00:20","date_gmt":"2024-03-06T13:00:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=596520"},"modified":"2024-06-11T08:01:49","modified_gmt":"2024-06-11T08:01:49","slug":"bitcoin-crash-or-surge-fed-btfp-ends-in-5-days","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-crash-or-surge-fed-btfp-ends-in-5-days\/","title":{"rendered":"Bitcoin Crash Or Surge? Fed’s BTFP Program Ends In 5 Days"},"content":{"rendered":"

As the US Federal Reserve’s Bank Term Funding Program (BTFP) approaches its conclusion on March 11, 2024, the Bitcoin and crypto market stands at a critical juncture. Instituted in March 2023 in the aftermath of the sudden collapses of Signature Bank<\/a> and Silicon Valley Bank<\/a>, the largest since the 2008 financial crisis, the BTFP has been a lifeline for US banks, offering loans against high-quality collateral to ensure liquidity in turbulent times.<\/p>\n

The BTFP’s Closure And Its Implications For Bitcoin<\/h2>\n

The BTFP’s conclusion could send ripples through the financial sector, affecting banks’ liquidity and possibly leading to tighter lending practices. Crypto analyst Furkan Yildirim recently detailed<\/a> on X, \u201cWith the BTFP\u2019s end, banks may face liquidity constraints impacting their operations and profit margins. This could slow down economic growth due to reduced lending.”<\/p>\n

However, he added that “the Fed might counter this by adopting a more lenient monetary policy, which could stabilize asset prices and prove beneficial for Bitcoin and the broader market.\u201d<\/p>\n

Arthur Hayes, the visionary behind BitMEX, provided a similar opinion<\/a> in one of his latest essays. He identifies a trio of macroeconomic indicators \u2013 the Reverse Repo Program (RRP), the BTFP, and the imminent March interest-rate decision \u2013 as pivotal to the Bitcoin and crypto market.<\/p>\n

Related Reading: Deribit Exchange Expects Bitcoin To Rise 20% In The Next 30 Days, Targeting $80,000<\/a><\/div>\n

Hayes predicts a severe market correction should liquidity sources, including the BTFP, dry up. \u201cThe market could face a harsh reality check without new dollar liquidity injections,\u201d he suggests, indicating a possibly rough transition period for all asset classes, including cryptocurrencies.<\/p>\n

The BitMEX founder anticipates a tumultuous March, with the possibility of a 30-40% correction in Bitcoin prices triggered by the BTFP’s expiry. Yet, he remains optimistic about a potential rebound<\/a> ahead of the Federal Reserve’s meeting on March 20, hypothesizing that anticipatory actions by the Fed, such as rate cuts, could reinvigorate the market.<\/p>\n

\u201cThis critical period could define the near-term liquidity scenario, offering a rebound opportunity for Bitcoin before further assessing the impact of the Fed\u2019s decisions on market dynamics,\u201d he explains.<\/p>\n

More Expert Opinions<\/h2>\n

Balaji Srinivasan, former CTO of Coinbase, recently also offered<\/a> a strategic viewpoint on the synchronicity of more key events, “BTFP expires in March. BTC halves in April. RRP runs out in May. All around the same time. So, the US banking system gets stressed right as Bitcoin gets scarce.” His analysis underscores the coincidental timing of the BTFP’s conclusion with Bitcoin’s halving event, suggesting a unique set of circumstances that could amplify market reactions.<\/p>\n

Related Reading: Bitcoin Mining Firm CEO Predicts Start Of \u2018Supercycle\u2019, What It Means<\/a><\/div>\n

Ansel Lindner, host of BTC Markets, provided a commentary amidst growing concerns over regional banking stability. Following revelations of “material weakness” in New York Community Bank’s (NYCB) loan risk tracking and a significant increase in its loan loss reserves earlier this month, Lindner pointed to potential early signs of another banking sector stress.<\/p>\n

“It’s starting… Remember what happened to Bitcoin during last March’s banking crisis? The BTFP was created on 12 March 2023, Bitcoin rallied 40% within 2 weeks. #SafeHaven,” Lindner said<\/a>, highlighting the potential for Bitcoin if the US Fed decides to intertwine again.<\/p>\n

In conclusion, the Bitcoin and crypto markets are at a crossroads on March 11, with potential outcomes ranging from significant downturns to bullish recoveries, contingent on the Federal Reserve’s actions and broader macroeconomic trends. The end of the BTFP signifies more than just the cessation of a temporary liquidity program; it represents a moment of truth for the banking sector’s resilience and the crypto market’s response to shifting economic tides.<\/p>\n

At press time, BTC traded at $67,005.<\/p>\n

\"Bitcoin
BTC price, 1-week chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

As the US Federal Reserve’s Bank Term Funding Program (BTFP) approaches its conclusion on March 11, 2024, the Bitcoin and crypto market stands at a critical juncture. Instituted in March 2023 in the aftermath of the sudden collapses of Signature Bank and Silicon Valley Bank, the largest since the 2008 financial crisis, the BTFP has been a lifeline for US banks, offering loans against high-quality collateral to ensure liquidity in turbulent times. The BTFP’s Closure And Its Implications For Bitcoin The BTFP’s conclusion could send ripples through the financial sector, affecting banks’ liquidity and possibly leading to tighter lending practices. Crypto analyst Furkan Yildirim recently detailed on X, \u201cWith the BTFP\u2019s end, banks may face liquidity constraints impacting their operations and profit margins. This could slow down economic growth due to reduced lending.” However, he added that “the Fed might counter this by adopting a more lenient monetary policy, which could stabilize asset prices and prove beneficial for Bitcoin and the broader market.\u201d Arthur Hayes, the visionary behind BitMEX, provided a similar opinion in one of his latest essays. He identifies a trio of macroeconomic indicators \u2013 the Reverse Repo Program (RRP), the BTFP, and the imminent March interest-rate decision \u2013 as pivotal to the Bitcoin and crypto market. Related Reading: Deribit Exchange Expects Bitcoin To Rise 20% In The Next 30 Days, Targeting $80,000 Hayes predicts a severe market correction should liquidity sources, including the BTFP, dry up. \u201cThe market could face a harsh reality check without new dollar liquidity injections,\u201d he suggests, indicating a possibly rough transition period for all asset classes, including cryptocurrencies. The BitMEX founder anticipates a tumultuous March, with the possibility of a 30-40% correction in Bitcoin prices triggered by the BTFP’s expiry. Yet, he remains optimistic about a potential rebound ahead of the Federal Reserve’s meeting on March 20, hypothesizing that anticipatory actions by the Fed, such as rate cuts, could reinvigorate the market. \u201cThis critical period could define the near-term liquidity scenario, offering a rebound opportunity for Bitcoin before further assessing the impact of the Fed\u2019s decisions on market dynamics,\u201d he explains. More Expert Opinions Balaji Srinivasan, former CTO of Coinbase, recently also offered a strategic viewpoint on the synchronicity of more key events, “BTFP expires in March. BTC halves in April. RRP runs out in May. All around the same time. So, the US banking system gets stressed right as Bitcoin gets scarce.” His analysis underscores the coincidental timing of the BTFP’s conclusion with Bitcoin’s halving event, suggesting a unique set of circumstances that could amplify market reactions. Related Reading: Bitcoin Mining Firm CEO Predicts Start Of \u2018Supercycle\u2019, What It Means Ansel Lindner, host of BTC Markets, provided a commentary amidst growing concerns over regional banking stability. Following revelations of “material weakness” in New York Community Bank’s (NYCB) loan risk tracking and a significant increase in its loan loss reserves earlier this month, Lindner pointed to potential early signs of another banking sector stress. “It’s starting… Remember what happened to Bitcoin during last March’s banking crisis? The BTFP was created on 12 March 2023, Bitcoin rallied 40% within 2 weeks. #SafeHaven,” Lindner said, highlighting the potential for Bitcoin if the US Fed decides to intertwine again. In conclusion, the Bitcoin and crypto markets are at a crossroads on March 11, with potential outcomes ranging from significant downturns to bullish recoveries, contingent on the Federal Reserve’s actions and broader macroeconomic trends. The end of the BTFP signifies more than just the cessation of a temporary liquidity program; it represents a moment of truth for the banking sector’s resilience and the crypto market’s response to shifting economic tides. At press time, BTC traded at $67,005. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":596546,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,1122,91447,2007,6573],"class_list":["post-596520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btfp","tag-fed","tag-us-federal-reserve"],"acf":[],"yoast_head":"\nBitcoin Crash Or Surge? 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Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Crash Or Surge? 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