Utah Republican senator Mike Lee outlined three major regulatory risks to the cryptocurrency industry at the recent Permissionless III crypto conference. They are the creation of a central bank digital currency (CBDC), fragmented state regulations, and heavy federal oversight. He warned these could threaten the digital assets sector, saying, “Cryptocurrency is not a security. Cryptocurrency…
Crypto markets have remained tightly range-bound over the weekend, with volatility declining, but that may be about to change. Retail sales and manufacturing reports are released this week. These are often used as indicators of economic conditions and potential changes in inflationary trends. âWe now have the Fed, election, geopolitical tensions, and earnings in the spotlight,â commented…
Rich Dad Poor Dad author Robert Kiyosaki predicts a catastrophic stock market crash and the collapse of “The Everything Bubble,” warning that gold, silver, and bitcoin will nosedive, triggering a global depression. He urges investors to brace for financial turmoil, saying only the prepared will emerge wealthier from the ruins. “Take bitcoin for example⊠it…
At the same time, core consumer price index inflation jumped sharply to 2.8% last month. Discussions have resumed about whether the US Fed would implement tighter monetary policy. Inflation in the United States came in at 1.8% in September, according to the long-awaited Producer Price Index (PPI), when market forecasts had it at 1.6%. Inflation…
Este artĂculo tambiĂ©n estĂĄ disponible en español. In a recent memo shared with clients, Bitwise CIO Matt Hougan emphasized several factors that could cause Bitcoin (BTC) to âmelt-upâ to $80,000 in the last quarter of 2024. Factors To Propel Bitcoin To $80,000 Hougan highlighted three essential conditions that could push BTC to new all-time highs…
JPMorgan analysts are showing optimism as bitcoin exhibits strong upward trends moving into the fourth quarter. They highlighted October’s historically positive returns for the cryptocurrency and suggested this trend could persist. “We continue to see the crypto ecosystem being incrementally more sensitive to macro factors,” the analysts noted. JPMorgan Sees Bright Prospects for Bitcoin in…
The Fed meeting on October 10 is eagerly awaited for clues about future monetary policy decisions. Bitcoin has climbed by 2.5%, trading around $63,387, with an intraday high of $63,957. The cryptocurrency market is displaying a positive shift this week, with Bitcoin climbing 2.5% and trading at $63,387, reaching an intraday high of $63,957. This…
Crypto markets gained over the weekend and are holding on to momentum in early Monday trading in Asia. This weekâs raft of economic and inflation reports could give them a further boost, especially if the probability of another large rate cut increases. âA November 50 basis point rate cut was almost entirely priced out last…
The upcoming data is essential in understanding the inflationary pressure in the economy. On October 10, traders will be eagerly watching the publication of the US CPI statistics. The cryptocurrency market is holding its breath until later this week when the US Consumer Price Index (CPI) data is revealed. After the dismal US job statistics…
Economist Peter Schiff has warned that restoring a real economy requires letting the “phony economy” collapse, which would result in significant financial losses for many. However, he emphasized that the alternative is worse, as it would lead to the devaluation of money itself. Schiff criticized the government and Federal Reserve policies, particularly following the 2008…
A researcher from 21shares has offered an analysis of how bitcoin’s price could respond to the U.S. jobs report. The analyst indicates that BTC prices could increase if the Federal Reserve reduces interest rates. These rate cuts, which are likely tied to labor market trends, could lower borrowing costs, potentially boosting the cryptocurrency market. Bitcoin’s…
At press time, the crypto economy is cruising at $2.14 trillion, following a modest uptick Friday morning. There are 88 days left in the year, 32 days until the 2024 U.S. Election Day, and 34 days until the Federal Reserve’s next meeting. With numerous developments, including rising tensions in the Middle East, a variety of…
On Friday, the global crypto market saw a boost in value, with bitcoin (BTC) climbing 2.29%, approaching the $62,000 mark at 9:30 a.m. EDT. Ethereum (ETH) joined the upward trend, gaining a more modest 1.6%, pushing toward the $2,400 level. Bitcoin and Ethereum Climb Following U.S. Jobs Report This rebound came on Oct. 4 after…
The US debt scenario seems to be inflating with each passing second. The debt statistics have ballooned like any other metric recently, adding significant stress to the already overloaded US dollar. Also Read: US Stock: Warren Buffett Is Dumping Apple For This Precious Oil Stock The US Debt Stats Now Stand At $37.5T Image Source:…
Este artĂculo tambiĂ©n estĂĄ disponible en español. Crypto trading firm QCP Capital says the âshallow sell-offâ in crypto markets following Iranâs recent attack on Israel indicates healthy market demand for risk-on assets. Crypto Market Remains Well Bid For Risk Assets Despite Iran launching over 180 missiles toward Israel yesterday, the sell-off in traditional financial (TradFi)…
In a report by Glassnode and researchers Cryptovizart and Ukuria OC, bitcoin has reclaimed a key short-term cost basis after the Federal Reserve’s recent interest rate cut. This recovery signals the potential for further price momentum, although broader market conditions remain cautious. Bitcoin Reclaims Short-Term Cost Basis According to Glassnode, bitcoin’s price has risen above…
In its Oct. 2 market analysis, QCP Capital highlights the effect of escalating Middle Eastern conflicts on traditional financial (tradefi) assets and the cryptocurrency market. According to QCP’s researchers, the market response has been muted in tradefi, but risk assets and digital currencies like bitcoin (BTC) faced more substantial losses. QCP Researchers Analyze Crypto Market…
Bitcoin soared in mid-September when the US Federal Reserve announced the first interest rate cut in over four years. As such, many expected this to be the case after Powellâs speech on Monday, but they have been proven wrong. The question arises of why BTC failed to produce impressive gains despite the Fed Chairâs hint…
Este artĂculo tambiĂ©n estĂĄ disponible en español. Zach Bradford, CEO of Bitcoin (BTC) mining firm CleanSpark, has predicted that the premier cryptocurrency may peak close to $200,000 this cycle. Bradfordâs Bullish Take On BTC Price In an interview with research and brokerage firm Bernstein, CleanSparkâs CEO noted that historically, post-halving periods have led to several…
Despite the gains, there’re some worrying signs ahead of Uptober. Source link
The crypto market continues its Monday correction, as bitcoin slumped by another grand or so in the past hour, dropping to just over $63,000. This comes just hours before the US Fedâs Chair, Jerome Powell, speaks in Nashville, Tennessee, where he is expected to elaborate on the central bankâs monetary policy pivot. CryptoPotato reported earlier…
Crypto markets were retreating heavily during early Monday morning trading in Asia, how low they go may be influenced by this weekâs economic events. There are eleven Federal Reserve speaker events this week and a raft of economic data that could set the scene for the final quarter as Q3 comes to a close. Economic…
In just 40 days, the U.S. Federal Open Market Committee (FOMC) will gather to decide whether the central bank will lower the benchmark interest rate. This pivotal moment occurs two days after the 2024 U.S. Election Day. As it stands, CME futures data suggests that a half-point reduction is currently viewed as more probable than…
September 28, 2024 at 03:15 PM GST updated: September 28, 2024 at 02:45 PM 2 mins read News John Deaton opposes consumer-targeted Federal CBDCs, warning they grant excessive control over individual financial activities. Deaton criticizes unclear U.S. crypto regulations, arguing they drive businesses away and hamper industry growth. Deaton advocates for term limits and stricter…
Bitcoin has recovered, hitting an intraday peak of $66,376, up 1.29% today and 5% over the past week. Bitcoinâs price surge comes after the release of the US PCE report and the Federal Reserveâs decision to lower interest rates. Bitcoin (BTC) has been making a notable comeback this week, peaking at $66,376âan increase of 1.29%…
Este artĂculo tambiĂ©n estĂĄ disponible en español. Bitcoin (BTC) looks poised to record its best September in a decade, surging past $65,000. This uncharacteristic price appreciation could be attributed to several key factors. Reasons Behind Bitcoinâs Impressive September Gains Historically, September has consistently been the worst month for BTC in terms of price performance. However,…
Bitcoin prices continued climbing this week, reaching an intraday peak of $66,456 per unit at 10:35 a.m. ET on Friday, marking a 2.4% boost against the U.S. dollar today and a solid 5% gain over the past seven days. Bitcoin Jumps to $66,456 Following U.S. PCE Report On Friday, Sept. 27, 2024, bitcoin crossed the…
In a recent interview, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, emphasized the significant role of hedge funds in gold’s ongoing price surge. McGlone shared his insights on the impact of macroeconomic factors, including Chinaâs economic slowdown and the Federal Reserve’s monetary policies, on the commodities market. Gold Eyes $3,000 Mark Amid Hedge Fund…
Bitcoin has recaptured its Short-Term Holder (STH) cost basis of $61,900 following the Federal Reserve’s recent 0.5% interest rate cut, according to Glassnode’s recent analysis. Despite the market’s ongoing consolidation, the report suggests new investors have demonstrated notable confidence in the long-term market outlook. Report Shows Despite Consolidation, New Bitcoin Investors Display Strong Market Confidence…
Congressional leaders are pressing regulators over concerns that the U.S. Securities and Exchange Commission (SEC)’s new guidelines on digital asset custody could disrupt financial innovation and regulatory collaboration. Lawmakers question whether the SEC acted prematurely, potentially jeopardizing efforts to safeguard digital assets through coordinated agency work. They demand more transparency on the SEC’s actions and…
Jim Rickards, a renowned economist and author of several best-selling books, has explained that the recent Federal Reserve 0.5% interest rate cut shows that the institution has fallen behind the curve and is “in a little bit” of a panic mode, with a recession coming according to several technical indicators. Jim Rickards Warns About Coming…
UBS remains optimistic about gold’s potential, despite its current record highs. The Swiss investment bank highlights key factors, including the Federal Reserve’s rate cuts and global geopolitical tensions that are boosting demand for gold as a safe-haven asset. UBS also notes that central bank purchases and investor inflows into gold ETFs are sustaining the metal’s…
Digital asset investment products recorded inflows of $321 million in the second consecutive week of positive activity, according to a report by Coinshares. The surge in inflows is largely attributed to the Federal Open Market Committee’s (FOMC) decision to cut interest rates by 50 basis points (bps). Coinshares: U.S. Leads Digital Asset Inflows According to…
Crypto markets have held on to last weekâs gains over the weekend following a boost from the Federal Reserveâs 0.5% interest rate cut. This week has a number of reports on consumer sentiment, gross domestic product, and more inflation data. âExpect more volatility and larger swings as markets shift attention to the next Fed meeting,â…
Lynette Zang, CEO of Zang Enterprises, asserts that hyperinflation is already underway, predicting a further decline in the U.S. dollarâs value. According to Zangâs recent interview with Kitco, the current financial trends indicate that the dollarâs purchasing power will reach zero, leading to a significant economic crisis by 2025. Zang Warns of Hyperinflation as U.S….
Rich Dad Poor Dad author Robert Kiyosaki has shared his expectation that the price of bitcoin could skyrocket to $500,000 by next year and $1 million by 2030. He referenced Jim Rickards’ upcoming book, which warns about the risks AI poses to the global financial system, potentially increasing economic instability. Robert Kiyosaki’s Bold Bitcoin Prediction…
It was a big week for financial markets and the global economy as the central bank of the worldâs strongest economy pivoted from its monetary policy and reduced the key interest rates by 0.5%. As such, itâs worth reviewing how local investors behaved when it comes down to their interactions with spot Bitcoin and Ethereum…
JPMorgan Chase sees the possibility of the Federal Reserve making another significant rate cut in November, possibly by 50 basis points. The bank, which predicted this week’s half-point cut, believes further reductions are likely if the job market weakens. While some other Wall Street firms have adjusted their outlooks, JPMorgan remains confident in its forecast,…
Este artĂculo tambiĂ©n estĂĄ disponible en español. According to Steno Research, Ethereumâs (ETH) days of underperformance against the wider crypto market might be numbered following the US Federal Reserveâs (Fed) decision to cut interest rates. Itâs Time For Ethereum To Shine Again Regarding price appreciation, ETH hasnât had a particularly impressive 2024. While Bitcoin (BTC)…
Unexpected rate cut by the Federal Reserve has had a ripple effect on US-listed cryptocurrency stocks to soar as the crypto market rises. This article looks at the effects of the Fed in moving crypto stocks, the marketâs reaction to the move, and the long term implications of this shift. The Federal Reserve rate cut…
Bybit’s head of institution has shared his insights into the possible effects of the Federal Reserve’s rate cuts on the cryptocurrency market. “We anticipate that the recent rate cut could enhance market sentiment and encourage both retail and institutional investors to diversify their portfolios by exploring and investing in cryptocurrencies,” he opined. Bybit’s Chris Aruliah…
JPMorgan Chase CEO Jamie Dimon has downplayed the significance of Federal Reserve rate cuts, emphasizing that broader economic forces are at play. He cautioned against focusing too much on the type of economic landing. “Honestly, most of us have been through all that stuff, it doesnât matter as much,” said the JPMorgan executive. Jamie Dimon:…
Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His…
Bitcoin reached an intraday peak of $63,227 on Thursday, following the U.S. Federal Reserve’s decision to lower the benchmark interest rate by 50 basis points the previous day. The entire cryptocurrency market has gained over 5%, and in the past 24 hours, global trading volume jumped by 26.92%. Crypto Market Surges 5%, Stocks Rise, Gold…
In the days ahead of the highly anticipated US FOMC meeting, when the central bank was expected to lower the interest rates, local investors were on a shopping spree for spot Bitcoin ETFs. However, that changed when the day arrived. Bitcoin ETF Outflows CryptoPotato reported yesterday the impressive streak for the four trading days leading…
TL;DR Bitcoin surged past $62,000 after the US Fed lowered interest rates, with 88% of holders now in profit. Analysts remain bullish on BTC, predicting further gains if it reclaims the $65,000 resistance level, with optimism growing for an extended bull run. The Major Achievement Bitcoinâs price witnessed a substantial uptick lately, crossing $62,000 following…
September 19, 2024 at 11:56 AM GST updated: September 19, 2024 at 11:57 AM 2 mins read News MicroStrategy transferred 4,922.697 BTC, worth $294 million, to three new addresses, aligning with its strategy to increase Bitcoin holdings. The transfer coincided with the Federal Reserveâs rate cut, sparking Bitcoinâs 3% price surge and a rise in…
BTC has gained almost 5% over the past 12 hours, topping $62,000 for the first time in more than three weeks. The asset climbed from an intraday low of $59,200 to tap $62,600 before retreating slightly during the Wednesday morning Asian trading session. In a post on X on Sept. 19, crypto analyst âNebraskangoonerâ called…
As repeatedly said in the past few days, all financial markets, especially crypto, were focused on the FOMC meeting that took place on September 18 as the US central bank was expected to lower the interest rates for the first time in about four years. Once that came to fruition, markets went berserk, with massive…
Economist and gold advocate Peter Schiff has sounded the alarm on the Federal Reserve’s latest actions, linking a significant rate cut to rising gold prices and a weakening U.S. dollar. His warning about a deepening recession and rising inflation adds weight to concerns about future economic stability. “It’s game over for the Fed,” Schiff stressed….