Author: NBTC
The Federal Reserve is on the brink of slashing interest rates, but the big question is how deep will the cut be? Earlier today, Jerome Powell pretty much confirmed that a cut is coming. Now, the market’s all-in on figuring out just how much of a cut we’re talking about. Most people are betting on a quarter-percentage point reduction. But, there’s a growing buzz around a potential half-point slash. There’s about a 33% chance of that actually happening, according to the CME Group’s FedWatch tool. Powell was cagey about the exact timing and the size of the cuts, which has…
VanEck Head of Digital Assets Research Matthew Sigel confirmed speculation that the company’s Solana spot ETF proposal bets on Donald Trump winning the US presidency. The deadline for VanEck’s application is set for March 2025, which would put it well beyond the aftermath of the US Presidential elections in November. Sigel simply responded with a simple: “Can confirm.” The analysts said approval odds for each ETF are “near zero” if a Democrat victory leaves Joe Biden in office and “better … but not guaranteed” if Trump wins the election. Trump would likely appoint a new SEC chair to replace the…
As the U.S. Securities and Exchange Commission (SEC) presses forward with efforts to regulate crypto, the agency’s enforcement threats have left a sprawling paper trail across the industry. Whether it’s entities issuing coins or exchanges enabling them to trade, more market participants are waking up to a so-called Wells notice. On Wednesday, that kind of letter boiled to the surface of the NFT space, as the prominent marketplace OpenSea said it had received one too. Before the SEC takes formal legal action against an entity, the agency will often send targets of an investigation a Wells notice. The document outlines…
WazirX has set aside millions of dollars to cover legal costs related to the theft of hundreds of millions of dollars in crypto after a cyberattack in July brought the Indian exchange to its knees. On Wednesday, Singapore-based Zettai Pte Ltd, the holding company of WazirX, filed an affidavit with the High Court of Singapore, requesting a 30-day moratorium to facilitate discussions with investors and creditors to stabilize the platform. The moratorium, if granted, is seen as essential for ensuring the platform’s continuity and preventing further legal disruptions. WazirX and Zettai did not immediately return requests for comment. WazirX has…
Bitcoin (BTC) is currently consolidating above the $60,000 mark, but there is overall market uncertainty regarding its future direction. In this regard, crypto analyst The Moon, based on technical indicators, painted both a bearish and bullish picture for Bitcoin in an X post on August 14. The analyst noted that Bitcoin is trading within a large symmetrical triangle pattern on the one-hour chart. This common chart formation typically precedes a breakout, with the price moving sharply toward the breakout. Bitcoin has been trading within converging trendlines, indicating a potential upward or downward move. The Moon’s analysis highlighted two critical price…
The Fed is preparing to lower interest rates in a move that could have significant impacts on the cryptocurrency market. Speaking at the Kansas City Fed’s Jackson Hole Economic Symposium in Wyoming, Fed Chairman Jerome Powell strongly hinted that rate cuts were on the horizon. “It is time for policy to adapt,” Powell said Friday, adding that the timing and scale of rate cuts will be determined by incoming economic data and the evolving outlook. “The direction of the path is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the…
The first week of July marked a significant moment in the cryptocurrency space, particularly for investors and market analysts closely monitoring the effects of major token unlocks. Gate.io, a leading cryptocurrency exchange, has provided detailed insights into several high-profile token unlocks that will occurr from July 1st to July 7th, influencing market dynamics and investor strategies. Token unlocks are events where previously locked tokens are released into circulation, allowing holders to sell or transfer their assets as they see fit. These events can lead to increased volatility in token prices due to potential selling pressure or, conversely, increased liquidity and…
Hamster Kombat, the popular Telegram clicker game, will be listed on crypto exchange OKX next month, aligning with the token’s airdrop date. According to an announcement on Aug. 30, OKX will list HMSTR on its spot trading market on Sep. 26, the day the project is slated to initiate its token generation event. Subsequent announcements are expected to disclose more details regarding what trading pairs will be available. OKX ranks as the fourth largest cryptocurrency exchange by 24-hour volume, according to CoinGecko, making it a key platform for the highly anticipated HMSTR listing. The exchange will also organize several campaigns…
The ETC Group Physical Bitcoin (BTCE), a German investment fund, has been steadily reducing its Bitcoin holdings, according to recent reports from CryptoQuant. This trend has been observed since the launch of the Bitcoin Exchange-Traded Fund (ETF). It has drawn considerable attention from the crypto community. Historically, the exchange rate of the BTCE has closely mirrored the Bitcoin price movement and has been a predictor of such movements. Recent Trends and Changes in Fund Behavior“The historical correlation between BTCE and the Bitcoin price has shown a consistent pattern, where changes in the fund’s reserves generally precede movements in $BTC price.”…
Money market fund assets have reached an all-time high of $6.24 trillion, driven by high interest rates offering 5%-5.5% yields. The Federal Reserve is expected to start cutting rates next month, with at least five rate cuts anticipated by March 2025. Trillions in money market funds may flow into stocks and crypto, potentially driving prices to new highs as yields decrease. Money market fund assets have risen to a record $6.24 trillion. This growth marks a new all-time high, fueled by current economic conditions and market optimism. 𝗢𝗡𝗘 𝗠𝗔𝗦𝗦𝗜𝗩𝗘 𝗟𝗜𝗤𝗨𝗜𝗗𝗜𝗧𝗬 𝗜𝗡𝗝𝗘𝗖𝗧𝗜𝗢𝗡 𝗡𝗢 𝗢𝗡𝗘 𝗜𝗦 𝗧𝗔𝗟𝗞𝗜𝗡𝗚 𝗔𝗕𝗢𝗨𝗧 🚨 MONEY MARKET FUND…