Federal Reserve
The U.S. central bank yesterday signaled that far easier monetary policy is in store for 2024.
Bitcoin traders are predicting flash BTC price moves despite almost unanimous market predictions as to what the Fed will do next.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
Bitcoin begins to fulfill traders’ downside targets as BTC price action retraces its steps in a crucial macro week.
While FedNow is currently not tied to any initiative for a digital U.S. dollar or the crypto space in general, experts warn that the system might end up as a precursor to the infrastructure for a central bank digital currency.
Some argue it would weaken crypto’s payments use case or form a bridge to a digital dollar.
Thursday's rally to a new 13-month high of $31,800 has now more than been fully nullified.
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
Wednesday's CPI report showed sizable decelerations in both overall and core U.S. inflation, which one might've thought would drive BTC's price higher.
The unemployment rate fell to 3.6% versus 3.7% in May and against expectations for 3.7%.
- 03:06A high-win-rate ETH whale purchased PEPE tokens for $2.05 million 8 hours agoAccording to a report by Jinse Finance, monitored by on-chain analyst Ai Yi (@ai_9684xtpa), a high-win-rate ETH whale purchased 141.5 billion PEPE tokens at an average price of $0.00001453, investing a total of approximately $2.05 million 8 hours ago. As of the time of monitoring, this transaction has incurred an unrealized loss of about $76,000.
- 03:05A wallet purchased $9,075 worth of LAUNCHCOIN a month ago, with a floating profit of $4.7 millionAccording to a report by Jinse Finance, monitored by the on-chain analysis platform Lookonchain, a month ago, a wallet purchased 20.3 million LAUNCHCOIN tokens for $9,075, and the current value of this holding has reached $4.7 million.
- 03:04Altcoin Season Index Rises to 31 as Market Significantly Warms UpAccording to a report by Jinse Finance, based on Coinmarketcap data, the market has significantly rebounded, with the Altcoin Season Index rising from a low of 13 to 31, gradually approaching the February average of 43 points. The Altcoin Index reached an annual high of 87 on December 4, 2024. In the past 90 days, 31 tokens among the top 100 cryptocurrencies by market capitalization have outperformed Bitcoin, with the top-performing altcoins over the 90-day period being FORM, FARTCOIN, MKR, WIF, and BREET.