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In a recent development, Morgan Stanley (MS) has approved IBTC and FBTC for its brokers, a move that has been deemed as “huge” by industry analyst Balchunas. This is a significant step for ETF issuers, as getting into wirehouses, especially their models, is seen as the Promised Land. This news could have a major impact on the market and we will be closely monitoring the situation.
Looking at the US Economic Calendar, we see that US jobless claims could influence buyer demand for BTC. Economists are forecasting a slip in continuing jobless claims from 1,877k to 1,870k, which could have implications on the US labor market and overall economy. Better-than-expected data could ease fears of a recession and drive demand for riskier assets, while weaker labor market conditions could have a negative impact on consumer spending and the GDP.
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