Author: Max Bauer
JPMorgan analysts, who have historically maintained a cautious stance on the cryptocurrency market, have shifted their outlook to bullish for 2025. The analysts, led by managing director Nikolaos Panigirtzoglou, cited a combination of factors that could drive further growth in the digital asset space. One key factor driving JPMorgan’s bullish sentiment is the emergence of the “debasement trade.” As geopolitical tensions rise and the U.S. election approaches, investors may turn to alternative assets like gold and bitcoin to hedge against economic instability. The analysts believe that a potential Trump win could reinforce this trend, with tariffs and expansionary fiscal policy…
Federal Reserve Bank of San Francisco President Mary Daly reaffirmed on Tuesday that monetary policy is still working to bring inflation pressures down, even after last month’s rate cut. In a speech prepared for an event at New York University, Daly stated that the half percentage point cut in the federal funds rate target implemented in September was a “right-sizing” of the policy stance. While acknowledging the progress made in curbing inflation, she emphasized that the Fed is not letting go of its restrictive monetary policy. “Even with this adjustment, policy remains restrictive, exerting additional downward pressure on inflation to…
TikTok, the popular social media platform, is facing allegations of operating as an unlicensed cryptocurrency exchange in the United Kingdom. A former compliance consultant for a leading private bank has sent a letter to the Financial Conduct Authority (FCA) outlining these claims. The letter asserts that TikTok’s virtual currency system, which rewards users with tokens for engaging with content, can be indirectly exchanged for fiat currency. This, according to the consultant, makes TikTok subject to the FCA’s anti-money laundering (AML) and terrorist financing regulations. “TikTok via its rewards program is facilitating money transmission to [money service businesses] and exchanging, or…
According to information on the SEC’s official website, Canary has filed for a Litecoin (LTC) ETF. You can review the official document here. The proposed ETF, Canary Litecoin ETF, would provide investors with exposure to LTC, a decentralized digital asset that operates on the Litecoin Network. LTC can be used to pay for goods and services or can be converted to fiat currencies. The ETF’s prospectus outlines the key features of LTC, including its historical development, use cases, and trading markets. It also details the operations of the Litecoin Network, which is decentralized and operates on a proof-of-work model. The…
The Bitfinex Alpha analysis report has revealed that Bitcoin’s recent decline was primarily driven by significant spot selling, resulting in a drop of over 11% from its September high. However, the selling pressure has since eased, and the cryptocurrency has shown signs of recovery. The report highlighted the importance of the realized price of Bitcoin short-term holders, which currently stands near $65,000. If Bitcoin can successfully break above this level, it could signal further bullish momentum. Conversely, failure to break through this resistance may lead to a retest of lower support levels, potentially around $59,000 or even $55,000. Despite the…
Cryptocurrency analysis firm QCP Capital is pointing to a potential historical parallel between Bitcoin’s recent price surge and the upcoming US presidential election. In a market update today, QCP Capital highlighted Bitcoin’s jump from $62,000 to $65,000, triggering the liquidation of approximately $80 million in leveraged BTC and ETH positions. While the firm acknowledges several potential factors contributing to the rally, they draw attention to the timing, noting the striking similarity to price action observed in the lead-up to the 2016 and 2020 US presidential elections. In both instances, Bitcoin experienced a period of relative stagnation before surging dramatically in…
In a recent address, Federal Reserve Board Governor Christopher Waller provided insights into the current state of the economy, emphasizing the Federal Reserve’s close monitoring of inflation trends. Waller described the progress of inflation as akin to a “roller coaster,” signaling fluctuations that could impact future monetary policy. Waller highlighted that while job growth is anticipated to slow, the unemployment rate is expected to rise gradually, remaining at historically low levels. He characterized the labor market as “quite healthy,” noting that the balance between supply and demand for labor has been achieved. Despite some suppression in consumer demand for commodities,…
Following a recent rally in Bitcoin and other cryptocurrencies, Blofin Academy has issued a cautiously bullish assessment of the market, highlighting significant macroeconomic uncertainties that temper the optimism. The academy’s analysis points to several key factors influencing their perspective: Federal Reserve Rate Cuts: A Diminishing Factor Blofin Academy notes that the better-than-expected September Consumer Price Index (CPI) data has led to revised expectations for Federal Reserve rate cuts. The market now anticipates a total of only 45 basis points (bps) in cuts for the remainder of the year, with some suggesting just one more 25bps cut before a pause in…
Bitcoin surged over 6% on Monday, breaking above the crucial $66,000 level for the first time in several weeks. The cryptocurrency’s price action was fueled by a combination of positive inflation data and renewed optimism surrounding the U.S. presidential election. According to Bitget Chief Analyst Ryan Lee, traders are closely watching this breakout, as it follows several failed attempts to breach this key resistance level. “If bitcoin can sustain this upward momentum, it could signal a significant shift in market sentiment,” Lee stated. The rally in cryptocurrency markets was further supported by the latest U.S. Producer Price Index (PPI) report.…
In a post on X (formerly Twitter), Vice President Kamala Harris unveiled a comprehensive “Opportunity Agenda for Black Men,” a key plank of her presidential campaign. The plan, announced today, includes a significant focus on economic empowerment within the Black community, notably incorporating measures to protect cryptocurrency investments. Harris began her post by recounting her family’s history of civil rights activism, framing her policy proposals within a broader context of fighting for racial justice and equality. She contrasted her vision with that of her opponent, Donald Trump, criticizing his past actions and policies as detrimental to the Black community. Harris…