A closely followed crypto strategist thinks that Bitcoin (BTC) is now raring to ignite the next phase of its bull market. Pseudonymous analyst Kaleo tells his 648,200 followers on the social media platform X that Bitcoin is now in a position to launch rallies that will last until the end of 2025. The trader shares […]
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The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira. This decision came after the naira-to-dollar exchange rate dropped to a low of NGN1,639 per dollar, likely due to increased demand for US dollars for travel and business. The central bank has outlined rules for […]
Former President and Republican candidate Donald Trump announced future sanctions for countries supporting de-dollarization. At a rally held in Wisconsin, Trump declared: “You leave the dollar, and you’re not doing business with the United States because we are going to impose a 100% tariff on your goods.” These statements come months after reports indicated that […]
Former President Donald Trump’s decentralized finance (DeFi) project has issued a statement on its roadmap. In a new thread on the social media platform X, World Liberty FInancial – formerly known as The DeFiant Ones – says that its main mission is to spread US dollar-pegged stablecoins and the concept of DeFi throughout the world. […]
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Bitcoin is attempting a slight recovery, but closing above the $60,000 market will be the first step to achieve before BTC and altcoins can bounce from their recent lows.
The S&P 500 Index (SPX) rose marginally by 0.24% last week, but Bitcoin (BTC) succumbed to selling pressure and fell nearly 11%. Will Bitcoin resume its uptrend, or has it already topped out? That is the big question worrying investors.
However, the whales do not seem to be perturbed by the sideways price action and have been on a buying spree. According to a post on X by market intelligence platform Santiment, Bitcoin whale wallets holding 100 Bitcoin or more surged by 283 wallets to 16,129 wallets, the highest in 17 months.
Daily cryptocurrency market performance. Source: Coin360
A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The naira’s depreciation has fueled inflation, sparking protests. While most businesses are pessimistic about the naira’s immediate future, […]
Bitcoin price action seems uninterested in rapidly declining US dollar strength, as a shock payroll revision adds to DXY pressures.
Bitcoin (BTC) refused to budge at the Aug. 21 Wall Street open while a “massive” United States employment revision boosted bullish risk-asset bets.
Data from Cointelegraph Markets Pro and TradingView showed flat BTC price action continuing despite a bombshell drawdown in US nonfarm payroll figures.
According to data from the US Bureau of Labor Statistics (BLS), these were revised down by 818,000 on the day. The period from April 2023 through March 2024 thus overstated payrolls by an average of 68,000 per month.
Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90% of these transactions have been completed using national currencies (rubles and yuan) due to the risks associated with executing these using “unfriendly” currencies. Russian Finance […]
Central banks and finance ministries of all BRICS nations are discussing the launch of a new payments platform that would circumvent the US dollar, according to a new report. According to Russian government-backed media publication Tass, Russia’s Federation Council Speaker Valentina Matviyenko told a press conference that a standalone payment system dubbed the “BRICS Bridge” […]
The post ‘Bombshell’ BRICS Payments Platform To Ditch US Dollar Gaining Support From Central Banks, Finance Ministries: Report appeared first on The Daily Hodl.
The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora remittances policy. According to the RBZ, the market had misconstrued a video on social media in […]