According to CoinDesk, Markus Thielen, founder of 10x Research, pointed out in a client report on Thursday that since late April 2025, the inflow of Bitcoin ETF funds has surged, mainly due to pressure from Trump and others on the Federal Reserve. Trump publicly demanded that Chairman Powell lower interest rates to 1% and resign, and Federal Housing Finance Agency Director Bill Pulte and Senator Cynthia Lummis also called for Powell to step down. Meanwhile, the minutes of the Federal Reserve's July meeting showed that officials were increasingly divided on policy. The continuous inflow of ETF funds and the increasing pressure of interest rate cuts have forced previously hesitant traders to re-enter the market, driving the recovery of the bullish momentum in cryptocurrency. Thielen stated that since mid April, Bitcoin ETFs have purchased $15 billion worth of Bitcoin without interruption, and stable demand is forcing traders to re-enter the market. Based on the seasonal performance in July and macro catalysts, the market still supports further upward momentum.
