Market Update, September 13th 2024 Takeaways Inflation stays under control: The Consumer Price Index increased 2.5% in August compared to the previous year, down from the 2.9% bump in July. The latest data indicates the Federal Reserve will likely cut interest rates by 25 basis points next week. Bankrupt crypto exchange FTX has reached a $14 million...
Market Update - September 6, 2024 Takeaways The market faced a broad decline over the past week: More than $162 million in crypto liquidations occurred last weekend, primarily from long positions, as US bitcoin ETFs experienced net outflows totaling $276 million. As of Thursday, the price of bitcoin had dropped to nearly $56,000. The SEC has expressed...
Market Update - August 22, 2024 Harris policy adviser talks digital assets: Speaking at a Bloomberg roundtable event, Kamala Harris policy adviser Brian Nelson said Harris will support policies to grow crypto and other emerging technologies. Spot bitcoin ETF holdings total $4.7 billion: Goldman Sachs and Morgan Stanley invested in BlackRock's iShares...
Takeaways Inflation cools again: Consumer prices in the US increased just 2.9% in July compared to the previous year, the slowest mark in three years, according to the US Department of Labor. Kamala Harris has overtaken Donald Trump in odds to win the US presidential election on Polymarket: Harris's campaign has reached out to the crypto industry, but...
Takeaways Bitcoin's value dropped below $50,000 early this week, marking its lowest point since mid-February: But prices quickly bounced back, briefly pushing near $60,000 on Thursday, as major indices regained their footing despite fears of a US recession. Amid global market turbulence, US spot Bitcoin ETFs saw $168.4 million in net outflows on Monday:...
Federal Reserve officials signaled the possibility of a September rate cut during their July meeting: But crypto prices pulled back after Iran pledged it would retaliate against Israel for assassinating Hamas leader Ismail Haniyeh on Iranian soil. Donald Trump expressed strong support for cryptocurrency at the Bitcoin Conference in Nashville: Trump pledged...
Market Update - July 19, 2024 Bitcoin Rallied Amid Renewed Volatility Linked to Trump's Election Prospects Mt. Gox Moves SEED_TVCODER77_ETHBTCDATA:9B in Bitcoin Ahead of Creditor Repayments Investors Hedge Positions as US Spot ETH ETFs Near Launch Coinbase Shifts Strategy for Gary Gensler Subpoena Hong Kong to Release Stablecoin Consultation Results ...
Takeaways US labor market and inflation showed signs of cooling in June: The unemployment rate rose to 4.1% and CPI, a core inflation measure, increased just 3.3% year-over-year. US House can’t override Biden veto: US lawmakers fell short of the two-thirds majority needed to overturn Biden’s veto of a Congressional resolution to overturn an SEC bulletin...
Crypto prices declined up to 7.5% to kick off week: The dip came as investors registered $150 million in liquidations, and the German government began unloading bitcoin it seized from a piracy site in 2013. Defunct bitcoin exchange Mt. Gox will start distributing repayments in bitcoin and bitcoin cash in July: The upcoming move marks significant progress...
Bitcoin prices fell Monday as nearly $500 million in positions were liquidated: Long positions took the majority of the losses. Deutsche Telekom, parent company of T-Mobile, to join Bitcoin mining sector: The move could enhance network security but also increase competition among miners. Consensys says SEC has ended its Ethereum 2.0 investigation: The...
The US CPI remained flat in May, beating forecasts and lifting bitcoin prices by nearly 4% on Wednesday: But bitcoin prices quickly retreated on Thursday as traders grappled with the possibility of just one rate cut by the Federal Reserve by the end of the year. Trump voices support for Bitcoin mining at Mar-a-Lago: President Biden’s campaign also...
BTC price approaches $72K: The price of bitcoin surged to nearly $72K on Wednesday after US spot bitcoin ETFs recorded their second highest single day of net inflows. President Biden vetoes a bipartisan resolution aiming to reverse an SEC rule on crypto custody services: The White House said the resolution would “jeopardize the well-being of consumers.” ...
Trump, Biden change tone on crypto: Donald Trump has promised to make the US a leader in digital assets during recent campaign events. And President Joe Biden’s aides have responded by reaching out to major players in the crypto market. Ether's price surges to nearly $4k, then pulls back: After the SEC approved eight Ether ETFs last week, analysts expect...
SEC approves spot ETH ETFs: After months of speculation, the SEC formally approved the first spot ether ETFs on Thursday. The development sets the stage for institutional investors to pour billions into the space. Grayscale CEO departs: Grayscale CEO Michael Sonnenshein announced Monday he was leaving his role after three years running the crypto...
BTC, ETH jump after inflation eases: The Consumer Price Index jumped 0.3% in April, ending three consecutive months of elevated inflation readings and lifting hopes of a rate cut later this year. Bitcoin and ether prices rallied 7.6% and 5.3% Wednesday. Roaring Kitty returns, sending meme coin soaring: Vince Gill, the meme stock leader who rose to fame in...
FTX customers to get money back: Lawyers for bankrupt crypto exchange FTX said customers will receive the funds lost when FTX went bankrupt in November 2022, plus interest. The payout will likely take months and still requires approval from a bankruptcy judge. Regulator cracks down on Robinhood: The SEC has issued a Wells Notice informing the crypto arm...
The cryptocurrency market has retreated under the shadow of renewed concerns about US stagflation. Federal Reserve chair Jerome Powell left the benchmark federal interest rate at between 5.25% and 5.5% at the latest FOMC meeting Wednesday, citing sticky inflationary pressures and a lack of recent progress toward their 2% inflation target. However, Powell...
Bitcoin miners see rewards cut, Dorsey jumps in: Bitcoin miners collected more than $100 million in revenue for the halving on April 20, the highest total ever recorded in a single day. But now miners face a drop in mining rewards that could reshape the industry. And one familiar name is jumping in. Speculators hopeful upcoming Fed meeting will leave rates...