FED Makes Hawkish Statements: Institutional Investors First Sold, Then Turned to Bitcoin and Surprise Altcoins!
The Federal Reserve’s recent hawkish stance on interest rates has significantly influenced the financial markets, including a notable impact on cryptocurrencies. After the FED’s announcement of a more cautious approach towards rate cuts for 2025, institutional investors initially reacted by selling off assets, leading to a sharp decline in Bitcoin’s price, which dipped below $100,000. However, this sell-off was short-lived as institutional interest quickly pivoted towards cryptocurrencies. According to CoinShares, there was an inflow of $308 million into crypto investment products last week, with Bitcoin seeing the largest inflow at $375 million. This turnaround suggests that despite the hawkish signals,
Read moreBinance Launches HIVE Futures Trading, Adds BIO Protocol to Launchpad
Binance, the world’s largest cryptocurrency exchange by trading volume, has made significant announcements regarding its offerings. On December 23, 2024, Binance Futures introduced HIVE/USDT perpetual contracts with up to 75x leverage, leading to an immediate 11% surge in HIVE’s price to $0.41. This move not only broadens the trading options for users but also signals strong market interest in HIVE. In addition to this, Binance has added BIO Protocol to its Launchpad platform, marking it as the 63rd project to be featured. BIO Protocol is focused on Decentralized Science (DeSci), aiming to revolutionize decentralized research and collaboration. Users can participate
Read moreBinance’s CZ Shares Crucial Advice About Crypto
Changpeng Zhao, commonly known as CZ and the former CEO of Binance, has recently shared vital advice for the cryptocurrency community. His guidance, disseminated via social media and interviews, serves as a reminder of basic but often overlooked security practices in the crypto world. CZ emphasizes that one should never receive cryptocurrency by directly inheriting a hardware wallet or private key from someone else. Instead, he recommends that the cryptocurrency should be transferred immediately to an address you control. For optimal security, he suggests that the sender directly transfer the crypto to your address. This advice underscores the principle of
Read moreADA Faces Retest of $0.8119 as Technical Indicators Turn Bearish
Cardano (ADA), one of the leading cryptocurrencies, is encountering a critical juncture as it approaches a retest of the $0.8119 support level. Recent market analysis suggests that ADA is showing bearish signals, with several technical indicators pointing towards potential further declines. The asset has experienced a notable correction, dropping over 40% from its recent peak of $1.3264. This decline has been marked by a decrease in trading volume, which, coupled with the bearish technical outlook, could signal continued downward pressure. The Relative Strength Index (RSI) and Simple Moving Average (SMA) are currently flashing warning signs for investors, as ADA struggles
Read moreTrump Pitched ‘Massive’ $280 Trillion Price Bitcoin Reserve To Save The Dollar
Former President Donald Trump, now President-elect, has been pitched an ambitious plan to establish a U.S. Bitcoin reserve, which could theoretically see Bitcoin’s market cap soar to $280 trillion. This proposal comes from Michael Saylor, the founder of MicroStrategy, who envisions this as a means to strengthen the U.S. dollar and manage the nation’s substantial debt. Trump, during his campaign, spoke at the Bitcoin 2024 conference, where he promised to create a “strategic national bitcoin reserve,” predicting Bitcoin could eclipse gold’s $16 trillion market capitalization. This was further supported by Republican Senator Cynthia Lummis, who introduced the BITCOIN Act to
Read moreQuantum Computing Will Fortify Bitcoin Signatures, Claims Adam Back
Adam Back, the CEO of Blockstream and a prominent figure in the cryptocurrency space, has recently shared his perspective on the interaction between quantum computing and Bitcoin’s security. In a statement made on December 21, 2024, Back suggests that rather than posing a threat, quantum computing could enhance the robustness of Bitcoin’s signature algorithms. Back points out that while the post-quantum era is still “several decades away,” the evolution in quantum technology might serve to strengthen the Bitcoin network. He argues that research into post-quantum (PQ) signatures could lead to the development of more compact and secure signature schemes, which
Read moreGary Gensler to Resign as SEC Chair Amid Key Crypto Regulation Shifts
Gary Gensler, the current Chairman of the U.S. Securities and Exchange Commission (SEC), has announced his resignation effective January 20, 2025, aligning with the inauguration of President-elect Donald Trump. Gensler’s tenure has been notably marked by a stringent regulatory approach towards the cryptocurrency industry, leading to numerous enforcement actions against major crypto exchanges and platforms. Under Gensler’s leadership, the SEC has taken significant steps to regulate the crypto markets, including lawsuits against companies like Coinbase, Binance, and Kraken for alleged securities law violations. His aggressive regulatory stance has been a point of contention within the crypto community, often criticized as
Read moreEthereum ETF Faces Outflow, but $12.16B NAV Suggests Resilience in the Market
Recent data indicates that Ethereum spot ETFs experienced a significant net outflow of $75.12 million on December 20, 2024. Despite this outflow, the total net asset value (NAV) of these ETFs remains robust at $12.16 billion, signaling a strong underlying market resilience for Ethereum. The outflows were particularly noted in major funds like BlackRock’s ETHA, which saw a decrease of 30,350 ETH, while Fidelity’s FETH had a modest inflow of 3,800 ETH. This movement, however, is contextualized by the cumulative net inflow since the launch of these ETFs, which stands at over $2.33 billion, showcasing ongoing investor interest in Ethereum
Read moreXYZ Launches First Satellite in Outer Space Blockchain Network
XYZ, a pioneering cryptocurrency project focused on space technology, has successfully launched its inaugural satellite into Earth’s orbit, marking a significant milestone in creating a blockchain network in outer space. This launch, occurring early on December 21, 2024, was carried out via a SpaceX Falcon Heavy rocket from California. The satellite, equipped with “crypto engines” and data modules, is the first piece of a planned constellation of satellites intended to establish a decentralized physical infrastructure network (DePIN) in space. This network aims to provide high security and resistance against tampering, offering a platform for “celestial services” like secure data storage
Read moreTrust Wallet Resolves Disappearing Balance Glitch
Trust Wallet, a popular cryptocurrency wallet, has successfully addressed a glitch that caused the intermittent disappearance of user balances. The issue, which surfaced on December 21, 2024, affected various tokens, including BNB and Trust Wallet’s native token, TWT, leading to widespread concern among users. Numerous users took to social media to express their alarm after noticing their crypto balances fluctuating unpredictably. Trust Wallet responded swiftly, acknowledging the problem and assuring users that their funds were secure despite the display anomalies. The wallet provider confirmed that the glitch was fixed by mid-morning on December 21, 2024, resolving the issue for all
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