Whether Trump’s memecoin pushes crypto in the ‘right direction’ remains unclear

January 19, 2025 Coin Telegraph

Only time will tell if Donald Trump’s memecoin was a good move in his plan to push crypto during his upcoming US presidential term.

The crypto industry has high hopes that United States President-elect Donald Trump will bolster crypto adoption both in the US and globally. However, only time will tell if his newly launched Solana-based memecoin is a step in the right direction.

Trump’s memecoin, Official Trump (TRUMP), launched on Jan. 17 and has skyrocketed by 10,643%, reaching $27.50 at the time of publication, according to data from the memecoin trading platform Moonshot.

It comes just days before Trump is set to be inaugurated as the US president on Jan. 20, with speculation he may even designate crypto as a national priority on his first day in office.

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Crypto liquidations hit $1B as traders were ‘unprepared for bad news’

December 20, 2024 Coin Telegraph

Crypto liquidations hit B as traders were ‘unprepared for bad news’

Coin Telegraph

A crypto analyst says we are yet to see the “Santa rally” the market has been hoping for after $1 billion was liquidated in the crypto markets in just 24 hours.

More than $1 billion has been liquidated in the crypto market over the past 24 hours as market participants were caught off guard by the strong momentum for crypto over the past 30 days.

However, the analyst suggests the market downturn may be short-lived.

“We’ve had such a bullish narrative over the last month that the market was completely unprepared for bad news. Now we’re seeing indiscriminate selling,” Swyftx lead analyst Pav Hundal told Cointelegraph.

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Bitcoin shorters ‘likely to get burned’ if CPI prints as expected

September 11, 2024 Coin Telegraph

australia crypto exchange

An analyst warns that a lower CPI could squeeze Bitcoin short sellers, while a higher-than-expected CPI might lead to a Bitcoin sell-off.

United States inflation data may fuel optimism among Bitcoin traders ahead of an anticipated September rate cut by the Federal Reserve — if inflation lowers as widely expected, according to a crypto analyst.

“Anyone holding short positions is likely to get burned and you could see a classic short squeeze trigger a rally,” Swyftx lead analyst Pav Hundal told Cointelegraph.

Hundal explained that there is “high investor confidence in the market” and that the year-on-year Consumer Price Index (CPI) “won’t surprise to the upside because of the way it’s calculated.”

Pav Hundal