Author: Max Bauer
Cryptocurrency analyst Timothy Peterson predicts a potential “Santa Claus Rally” for Bitcoin, citing several key indicators in a recent analysis shared online. Peterson presented his case in a threaded post illustrated with charts, pointing to three primary factors supporting his bullish outlook. First, Peterson highlights the current state of the US dollar. According to his analysis, the dollar is nearing a short-term high, with an 85% probability of a reversal. He explains that a weakening dollar often reduces global demand for USD, prompting investors to explore alternative assets, including Bitcoin. Historically, Bitcoin’s price has shown an inverse correlation with the…
According to a recent market analysis by Matrixport, Bitcoin’s current price correction presents a potential buying opportunity, setting the stage for a rebound in 2025. The cryptocurrency investment platform notes that Bitcoin’s recent 40% surge followed by a correction aligns with historical cyclical patterns. Currently, Bitcoin’s price hovers around 3% lower than its value a month ago. BTC is currently trading about 3% lower than its price a month ago, with a recent high of $108,000. According to Matrixport, corrections of 10% to 20% in a bull market are common and often provide an ideal re-entry point for traders and…
As Bitcoin celebrates a Christmas Eve surge back to $98,000, market analysts are looking ahead to 2025, identifying key factors that could significantly impact the cryptocurrency’s future. According to Yuya Hasegawa, an analyst at Japanese cryptocurrency exchange Bitbank, three major forces will shape Bitcoin’s trajectory in the coming year: the Trump administration’s encryption policy, the Federal Reserve’s monetary policy, and the looming US government debt. Hasegawa points to the Trump administration’s stance on cryptocurrency as a primary driver of market sentiment. The administration’s proposed strategic Bitcoin reserve plan, along with the appointment of pro-cryptocurrency officials, are expected to heavily influence…
Prominent trader Eugene Ng Ah Sio, known for his astute market calls, recently revealed a significant $6.2 million loss on a Solana (SOL) trade, marking the largest single loss in his trading account’s history. In a candid trading summary, Ng Ah Sio detailed the series of decisions that led to the substantial setback, offering valuable insights into the psychological pitfalls that can snare even seasoned investors. Ng Ah Sio’s SOL saga began after a successful Bitcoin (BTC) trade, where he capitalized on a price appreciation from $102,000 to $107,000. Confident from this victory, he shifted his profits into SOL and…
Former North Carolina congressional candidate Bo Hines has been appointed Executive Director of the Presidential Council of Advisers for Digital Assets, dubbed the “Crypto Council,” by Donald Trump. The announcement, made via Truth Social on Sunday, positions Hines alongside previously appointed tech advisor David Sacks to spearhead the Trump administration’s approach to cryptocurrency and digital assets. Trump emphasized Hines’ role in fostering innovation and growth within the digital asset space, stating that Hines and Sacks will collaborate to ensure industry leaders have the necessary resources to thrive. He envisions creating an environment where the crypto industry can flourish and contribute…
Richard Schueler, the founder of HEX and PulseChain, better known as Richard Heart, has been added to Interpol’s most wanted list, facing charges of aggravated tax fraud and assault in Finland. Finnish authorities are investigating Schueler, a US citizen who had been residing in Helsinki, for allegedly evading hundreds of millions of euros in taxes. According to Finnish news outlet YLE, Helsinki police detective Harri Saaristola stated that the investigation stemmed from discrepancies between Schueler’s tax returns and the Finnish Tax Administration’s income assessment. The alleged tax evasion occurred between June 2020 and April 2024. A separate assault charge relates…
Cryptocurrency analytics firm Alphractal has issued a cautionary note on Bitcoin’s recent price action, highlighting a potential disconnect between market sentiment and price movement. Despite a positive aggregated Funding Rate, which typically indicates bullish sentiment, Bitcoin has experienced a decline, raising concerns about excessive optimism and potential selling pressure. The Funding Rate, a key metric in the cryptocurrency derivatives market, reflects the balance between long and short positions in perpetual futures contracts. A high Funding Rate suggests a predominance of long positions, often interpreted as a sign of market optimism. However, Alphractal’s analysis reveals a divergence from this typical pattern.…
Morgan Stanley’s Chief US Economist, Michael Gapen, offered insights on the latest Personal Consumption Expenditures (PCE) report and its implications for future Federal Reserve policy. In a recent interview, Gapen characterized the 0.1% increase in PCE as “very favorable,” highlighting the decline in housing-related inflation as a key driver. Gapen acknowledged the persistent stickiness in goods prices, particularly for cars, attributing it to storm-related disruptions. However, he emphasized the overall downward trend in inflation, echoing the views of Federal Reserve Presidents Goolsbee and Williams. While cautioning that the path to disinflation will be bumpy, he sees clear signs of progress.…
The Securities and Exchange Commission (SEC) appears set for a dramatic policy reversal on cryptocurrency regulation, potentially shifting from a historically adversarial stance to one that embraces innovation. An exclusive interview with SEC Commissioner Hester Peirce offers insights into the anticipated changes and the speed at which they might occur. Commissioner Peirce, in a conversation, described a current atmosphere of “transition” and “optimism” within the SEC as the agency awaits the arrival of Paul Atkins, President Trump’s nominee to succeed current Chair Gary Gensler. While acknowledging a period of uncertainty during the transition, Peirce emphasized the potential for immediate action…
El Salvador’s government-backed bitcoin wallet, Chivo, will be either sold or shut down, an official announced Thursday, just a day after the nation secured a $1.4 billion loan agreement with the International Monetary Fund (IMF). This move comes as part of El Salvador’s commitment to scale back its bitcoin policies, a key condition of the IMF deal. Stacy Herbert, director of El Salvador’s national bitcoin office, confirmed the impending change to the Chivo wallet’s status. However, she emphasized that bitcoin will remain legal tender in the country. The government, she added, will continue to purchase bitcoin, potentially accelerating its acquisition…