Binance CEO: Recent Market Declines Are Not a Long-Term Negative Trend

August 8, 2024 Bitcoin.com

Binance

Binance CEO Richard Teng has addressed the recent declines in cryptocurrency and equity prices, attributing them to macroeconomic factors and advising against viewing them as long-term negative trends. He highlighted potential Federal Reserve rate cuts and geopolitical volatility as key influences, urging individuals to stay informed and proactive. Richard Teng Discusses Market Declines, Advises Caution […]

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

Ethereum’s quick rebound positions ETH price for 100% rally

August 6, 2024 Coin Telegraph

Coin Telegraph

The Ether price is mirroring a fractal pattern from October 2023 that preceded a 178% price rally.

Ethereum’s native token, Ether, is undergoing a sharp bounce after dropping to its eight-month low on Aug. 5. Interestingly, this rebound shows similarities with the one in October 2023 that preceded a 168% price boom.

As of Aug. 6, the Ether (ETH) pair showed signs of bullish reversal after rebounding from a support confluence comprising the lower trendline of its prevailing ascending channel pattern and the 200-week exponential moving average (200-week EMA; the blue wave).

Simultaneously, the bounce accompanies a rise in Ether’s weekly relative strength index (RSI) reading from 39.40, just over nine points above the oversold threshold.

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

Fedwatch Tool and Polymarket Point to Highly Probable Rate Cuts by the Fed

August 6, 2024 Bitcoin.com

bitcoin.com

Following the recent volatility in global equity markets, some analysts suggest that the U.S. Federal Reserve might implement an emergency rate cut before September. In addition, market predictions are leaning toward a rate cut at the September Federal Open Market Committee (FOMC) meeting. The key question is the extent of this cut. According to CME’s […]

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

Bitcoin and Crypto to Gain as Falling Rates Expand Global Liquidity, Says 21shares VP

August 3, 2024 Bitcoin.com

21shares

The head of strategy at crypto investment firm 21shares has explained that the broad-based bitcoin selloff following the Federal Reserve’s decision to keep interest rates unchanged was partly due to increasing geopolitical tensions in the Middle East and fears of conflict escalation, leading to a temporary flight to safety. He also noted that anticipated interest […]

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

No Rate Cuts Yet: Fed Maintains Rates at Historic Highs

July 31, 2024 Bitcoin.com

Bitcoin

The U.S. Federal Reserve has opted to maintain the federal funds rate target range at 5.25-5.5%, according to the latest report from the Federal Open Market Committee (FOMC). The committee noted that while inflation has eased over the past year, it remains somewhat elevated, with the overarching goal being to bring inflation down to the […]

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

Germany already lost out on $124M profit selling its Bitcoin

July 21, 2024 Coin Telegraph

Germany already lost out on 4M profit selling its Bitcoin

Bitcoin Price

The State of Saxony, gripped by fears of a sudden Bitcoin price crash, hastily ordered the sale of its 50,000 BTC stash.

The German government recently missed out on an extra $124 million in Bitcoin (BTC) gains by cashing in its holdings a bit too soon.

On July 13, Germany’s Saxony state completed the sale of the 50,000 BTC stash it seized from movie piracy website, movie2k, generating around $2.87 billion. In doing so, they secured a profit of over $740 million when compared to their acquisition cost of $2.13 billion in January.

However, right after their sale, Bitcoin prices skyrocketed by up to 16.55%, driven higher by the assassination attempt on former United States president Donald Trump, which has since boosted his odds of a reelection in November.

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

ECB Maintains Interest Rates Amid Persistent Inflation Concerns

July 18, 2024 Bitcoin.com

bitcoin.com

The European Central Bank (ECB) maintained its interest rates on Thursday, indicating that domestic price pressures and elevated inflation levels will persist into next year. After a recent rate cut, the ECB adopted a cautious stance, suggesting more evidence is needed before making another move. The ECB highlighted that while corporate profits are mitigating some […]

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

Citi Analysts Predict 8 Weeks of Fed Rate Cuts Starting in September, Powell Seeks Evidence

July 9, 2024 Bitcoin.com

bitcoin.com

Analysts from Citi, the American multinational investment bank and financial services corporation, predict the U.S. Federal Reserve will begin reducing rates by September, totaling a 200 basis points (bps) cut over the next eight Federal Open Market Committee (FOMC) meetings. Nevertheless, Federal Reserve Chair Jerome Powell stated on Tuesday that additional progress is required before […]

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

Former Fed President Discusses Potential for 2 Interest Rate Cuts This Year

June 24, 2024 Bitcoin.com

bitcoin.com

Former Boston Fed President Eric Rosengren has outlined the potential for two interest rate cuts this year. He cited recent Federal Open Market Committee (FOMC) discussions and stabilizing inflation trends. “I am expecting we’ll probably get some more favorable inflation numbers over the next couple of months,” he opined. ‘I Don’t Think We’re Down to […]

Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’

Fed President Kashkari Finds Bank of America’s December Rate Cut Prediction Reasonable

June 17, 2024 Bitcoin.com

Bank of America

Minneapolis Federal Reserve President Neel Kashkari addressed Bank of America’s prediction for a potential Fed interest rate cut this year in an interview with CBS News on Sunday. Bank of America predicts that the Fed will cut rates once this year, likely in December. “I think that’s a reasonable prediction,” Kashkari said, noting that it […]

rate cuts

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