eToro Analyst: "Altseason" to Await Bitcoin Dominance of 70%, with Simultaneous Fed Quantitative Easing

BlockBeats News, May 22nd, eToro Australia analyst Reece Hobson stated that Bitcoin's surge to a record high of $110,000 was driven by multiple factors. Institutional inflows, particularly through the U.S. Bitcoin Spot ETF, have injected billions of dollars into the market. The macro environment also played a role, including increased liquidity, a weakening dollar, and renewed geopolitical uncertainties.

Hobson further remarked, "When two key events coincide, the altcoin season will kick off. First, quantitative easing must be initiated to inject more liquidity into the system, and Bitcoin dominance (BTC.D) also needs to reach around 70% (currently at 64%)."