Bitcoin could be on track to a September breakout to new record highs, but it faces significant resistance around $65,000.
US money market funds have reached a new all-time high and Bitcoin may be poised for its own record-breaking price surge.
The total US money market fund has hit a new all-time high of over $6.2 trillion, mainly driven by the expectations of an upcoming interest rate cut, according to the Kobeissi Letter, which wrote in an Aug. 25 X post:
Net inflow into money market funds, month to date, USD billions. Source: The Kobeissi Letter
