Bitcoin's sensitivity to interest rate expectations highlights its potential volatility and influence on broader crypto market dynamics.
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Markets
Polymarket is a ‘social epistemic tool’ for the public, Vitalik Buterin argues as CFTC scrutiny intensifies
Intensified CFTC scrutiny on Polymarket could stifle innovation in decentralized prediction markets, impacting their public utility and insights.
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MATIC, SUI, RENDER and TAO could soar if Bitcoin holds $64K
Altcoin traders could send MATIC, SUI, RENDER and TAO higher if Bitcoin manages to continue trading above $64,000.
Bitcoin (BTC) is up more than 9% this week, indicating that the bulls are trying to push the price toward the resistance of the $55,724 to $73,777 range. According to data from SoSo Value, the United States-based spot Bitcoin exchange-traded funds (ETFs) witnessed strong inflows of $252 million on Aug. 23, indicating solid buying by investors.
The latest surge in Bitcoin happened after US Federal Reserve Chair Jerome Powell said during his annual Jackson Hole symposium speech that interest rates were due to fall.
“Bitcoin demand in the US spiked today as the Fed signaled the cycle of lower interest rates will begin,” CryptoQuant’s Head of Research Julio Moreno said in an Aug. 24 post on X.
Toncoin drops 18%, Notcoin down 21% following arrest of Telegram CEO Pavel Durov
The arrest of Telegram's CEO highlights the vulnerability of cryptocurrencies to regulatory actions, impacting investor confidence and market stability.
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Solana TVL hits near 1-year high — Will SOL price follow?
The total value locked on Solana surged but is this enough to send SOL price to a new all-time high?
Solana’s native token, SOL (SOL), has been unable to break above the $150 resistance level since Aug. 12. However, some network metrics have shown strength, including the total deposits in its decentralized applications, which have surged to their highest level since October 2022. Traders are now questioning whether these improvements in network fundamentals are sufficient to drive SOL’s price back to $190 and what factors may be hindering its performance.
One reason for the lack of enthusiasm among investors stems from Cboe Global Markets' recent decision to remove the 19b-4 forms for Solana spot exchange-traded funds (ETFs) from its website on Aug. 16. Some market participants, including finance lawyer Scott Johnsson, suggest that the United States Securities and Exchange Commission has informally rejected the Solana ETF, consistent with Chair Gary Gensler’s earlier stance.
Eric Balchunas, a senior ETF analyst at Bloomberg, shares a similar view, noting that while the S-1 filings from the ETF issuers remain active, the chances of approval are slim, with the only hope being a change in the current SEC administration should Donald Trump win the US presidential election. As a result, investor optimism regarding the potential launch of a spot Solana ETF has diminished, reducing the immediate impact of Solana’s network metrics.
Russia plans to set up crypto exchanges to support global trade
Russia's move to establish crypto exchanges could reshape global trade dynamics but faces skepticism and potential sanctions-related challenges.
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Kraken operator loses case in Australia over margin trading product
The ruling underscores the critical need for crypto firms to adhere to regulatory standards, potentially reshaping compliance practices industry-wide.
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Bitcoin is holding $60K — Here’s why it’s important
Resilient US job and inflation data and steady spot Bitcoin ETF inflows aided Bitcoin’s rally above $60,000.
Bitcoin (BTC) gained 4% between Aug. 21 and Aug. 22, and despite losing some momentum, it has sustained the $60,000 support. Some analysts argue that a break above the $62,000 resistance is necessary to confirm a bullish trend. However, given the market’s confidence in the United States Federal Reserve (Fed) implementing expansionary measures, the odds still favor Bitcoin bulls.
Bitcoin price hits $61K, but investors still prefer stocks and bonds right now
Investors balance risk as Bitcoin futures dip, reflecting uncertainty before the Federal Reserve's September meeting.
Although Bitcoin (BTC) has gained 21% since it retested the sub-$50,000 level on Aug. 5, its price has struggled to maintain above $62,000. Meanwhile, the S&P 500 index has fully recovered and is now trading just 1% below its all-time high set on July 16.
Bitcoin faces several conflicting trends, including derivatives metrics reflecting low buyer interest and macroeconomic indicators suggesting that traders are increasingly shifting away from cash positions. Interestingly, these stock market gains have coincided with a notable decline in US Treasury yields, which signals robust demand for these traditionally safe instruments.
In essence, traders are now willing to accept lower returns on fixed-income assets, likely reflecting a growing confidence in the Federal Reserve’s (Fed) strategy to curb inflation without sparking a recession. The Fed is widely expected to cut interest rates on Sept. 18 after maintaining rates above 4% since December 2022.
Bitpanda and Coinmotion join forces to bring over 400 digital assets to Nordic users
The partnership could significantly boost cryptocurrency adoption and financial innovation in the Nordic region, enhancing user experience and safety.
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