Anticipated Federal Reserve interest rate reductions could precipitate a significant decline in Bitcoin prices, contrary to what many might expect, according to market analysts. Bitfinex’s team, in a recent advisory, suggested that Bitcoin could see a downturn of 15-20%, potentially lowering its value to between $40,000 and $50,000. This forecast is particularly noteworthy as September […]
Nvidia experienced a significant market downturn, losing approximately $280 billion in market value following an antitrust subpoena from the U.S. Department of Justice (DOJ). This marked the largest single-day loss in U.S. stock market history, with Nvidia’s shares plummeting 9.5% to close at $108 on September 3, according to data from Google Finance. The stock […]
Sberbank, Russia’s top banking institution, is set to initiate customer transactions using the digital ruble by early 2025, as revealed by Anatoly Popov, the bank’s deputy chief executive. This move is part of Russia’s broader efforts to integrate the central bank digital currency (CBDC) into everyday banking activities. The bank is preparing to join the […]
The Qatar Financial Centre (QFC), located in Doha, has introduced a detailed set of regulations for digital assets. The regulatory framework, devised by the Qatar Financial Centre Authority (QFCA) and the Qatar Financial Centre Regulatory Authority (QFCRA), aims to provide a structured approach for managing digital assets within the QFC. This new framework outlines procedures […]
Arthur Hayes, the co-founder and ex-CEO of BitMEX, recently offered insights into why anticipated rate cuts by the U.S. Federal Reserve might not boost Bitcoin’s value. In a recent X post, Hayes, now CIO at Maelstrom, commented on the aftermath of Fed Chair Jerome Powell’s speech at Jackson Hole on August 23, which hinted at […]
In 2024, central banks worldwide have significantly increased their gold reserves, setting a new precedent for acquiring value-storing assets. According to a report from the macroeconomics-focused Kobeissi Letter on September 2, central banks globally added a record 483 tonnes of gold to their reserves in the first half of the year. This acquisition surpasses the […]
The count of Bitcoin wallets holding at least 100 BTC has reached a 17-month peak, reflecting a significant uptick in large-scale Bitcoin accumulation over the past month. Blockchain analytics firm Santiment reported on August 31 that the number of these “whale” wallets surpassed 283 in August alone. According to Santiment, the total has now surged […]
1. BTC Price Approaches Recent Lows As Bitcoin wrapped up August, it didn’t leave a strong impression, with prices hovering around the lows. Current market data reveals that buying interest near the $58,000 mark is essential but not robust enough to offset the selling pressure. Analysis by Skew points out a general disinterest in derivatives […]
Bitcoin has been unable to sustain a close above $62,000 since August 3, with its price down 11% over the past month. Meanwhile, the S&P 500 has risen slightly, maintaining performance close to its peak. Investors speculate that a potential interest rate reduction by the Federal Reserve could boost risk assets like Bitcoin. Professional traders […]
On August 30, voices from the cryptocurrency community vented their displeasure on social media following a decision by a Brazilian Supreme Court justice to halt the operations of X in the country. “Totally insane of Brazil to block X. Seems like the US is on a similar path with their moves against TikTok,” remarked Scott […]