
A widely followed crypto analyst is predicting higher prices for crypto assets as he expects the Federal Reserve to end its anti-inflation monetary policies. In a new thread, the pseudonymous crypto analyst Pentoshi tells his 861,300 followers on the social media platform X that we are close to seeing the end of quantitative tightening (QT), […]
The post Trader Predicts Crypto Rallies Amid Expectations of Fed Monetary Policy Shift – But There’s a Catch appeared first on The Daily Hodl.
A widely followed crypto analyst says that smart contract platform Ethereum (ETH) appears close to bottoming out against Bitcoin (BTC). In a new video update, crypto strategist Benjamin Cowen tells his 877,000 YouTube subscribers that the ETH/BTC pair will likely find its cycle low under 0.017 ($2,181) sometime near the end of the year. “ETH/BTC […]
The post Ethereum Is Getting Pretty Close to Bottoming Out Against Bitcoin, Warns Crypto Analyst Benjamin Cowen appeared first on The Daily Hodl.
Sustained outperformance may hinge on whether US President-elect Donald Trump implements pro-crypto policies once he takes office on Jan. 20.
Cryptocurrency analysts are turning bullish after favorable US inflation data sent Bitcoin (BTC) surging some 3% amid hopes of more interest rate cuts.
On Jan. 15, the US Consumer Price Index (CPI) report tipped lower-than-expected core inflation in December, causing Bitcoin’s spot price to rally from around $96,000 to nearly $100,000. Other assets, including stocks and gold, also surged.
Futures markets assign a roughly 30% chance of the Federal Reserve, America’s central bank, cutting interest rates in March, according to CME FedWatch. Rate cuts generally benefit crypto.
“If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US Dollar,” said Senator Deevers after introducing the bill.
Republican senator for Oklahoma, Dusty Deevers, has filed legislation that would allow employees and residents in the state to opt to receive payment and salaries in Bitcoin (BTC) and enable vendors to accept BTC payments.
“In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments,” said Deevers after introducing the Bitcoin Freedom Act on Jan. 8.
“As Bitcoin continues to rise and the value of the dollar continues to be printed away in Washington D.C., Oklahoma must act to protect our people,” he added.
Investors are boosting Bitcoin allocations as a hedge against geopolitical uncertainty, the bank said.
The so-called “debasement trade” into gold and Bitcoin (BTC) is “here to stay” as investors brace for persistent geopolitical uncertainty, according to a Jan. 3 research note by JPMorgan shared with Cointelegraph.
Gold and BTC “appear to have become more important components of investors’ portfolios structurally” as they increasingly seek to hedge against geopolitical risk and inflation, the bank said, citing the “record capital inflow into crypto markets in 2024.”
The debasement trade refers to increasing demand for gold and BTC due to factors ranging from “structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about ‘debt debasement’ due to persistently high government deficits across major economies,” among others, JPMorgan said.