Bitcoin Surpasses Meta to Become the Ninth-Largest Asset Globally
According to the latest data from 8marketcap, with the price of Bitcoin rising above $47,000, its market capitalization has now reached approximately $922.1 billion, with a 24-hour growth of around 6.5%. BTC has surpassed Meta (formerly Facebook) to become the ninth-largest asset globally by market capitalization.
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After Waller's hawkish speech, the market focuses on "rate hikes", but Morgan Stanley says balance sheet reduction is more likely.
After the Jackson Hole meeting, the market's focus has shifted to interest rate hike expectations. However, Morgan Stanley economist Carpenter pointed out that Walsh's long-standing stance on reducing the $7 trillion balance sheet should not be overlooked. It is expected that the Federal Reserve may begin a balance sheet reduction of more than $1.5 trillion next year, partially replacing rate hikes.
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