Author: NBTC

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. You may be experiencing some déjà vu. But for the Fed, 2024 is very different from 2016. While our president-elect and his ambitious economic plans (tax cuts, tariffs, stricter immigration policies) are the same today as they were eight years ago, the economy is in a vastly different place. Last week’s election results may have come too late for committee members to consider them in their interest rate decision, but there is still one more meeting before the end of the year. Back in December 2016…

Bitcoin, the leading cryptocurrency, has surged above the $69,000 level, reaching an intraday high of $69,222 on the Bitstamp exchange, according to CoinGecko data. This comes after the bullish golden cross pattern recently formed on its daily chart. The cryptocurrency has hit its highest level since Oct. 21, the day it hit a multi-month high of $67,487. The shares of major cryptocurrency-related companies have also soared higher in tandem with the leading cryptocurrency. Coinbase (COIN) is up by more than 3%. The shares of the top mining companies, such as Riot Platforms (RIOT), are also in the green. According to…

In a noteworthy development for the PEPE token market, several whales have made substantial purchases and withdrawals of PEPE tokens from significant exchanges like Binance and Gate.io over the past two hours. The most considerable withdrawal was executed by a whale associated with wallet address “0x51Cc,” who moved a staggering 535.81 billion PEPE tokens worth approximately $5.07 million from Binance. This substantial acquisition underscores a trend of whale accumulation in PEPE, suggesting renewed interest in the meme-inspired cryptocurrency. A whale just bought over $5M worth of $PEPE!Over the last 2 hours, smart whale “0x51c” deposited 5.5M $USDT to #Binance and…

Democrat Ruben Gallego won the Arizona Senate seat defeating Republican Kari Lake. While Democrats lost control of the Senate in the 2024 election, Gallego’s win stemmed some of the losses. Republicans will control 53 seats for at least the next two years, having flipped Pennsylvania, Ohio, Montana and West Virginia last week. The crypto-focused super political action committee, Fairshake, was heavily involved in the Ohio race in particular, supporting Republican Bernie Moreno to the tune of $40 million. Gallego, a congressman from the Grand Canyon State, voted in favor of the Financial Innovation and Technology for the 21st Century Act…

Bitcoin (BTC), the largest cryptocurrency, is on the verge of reaching a major milestone. Its Energy Value, a raw value of electricity required for mining, is approaching $100,000 for the first time ever. The Energy Value model author masterfully predicted this five years ago. Bitcoin (BTC) hits $100,000 in energy value, model works like clockwork Bitcoin Energy Value, i.e., the intrinsic value of BTC as priced by raw Joules of electricity used in its mining ecosystem, is setting new highs. Very soon, it might hit $100,000 for the first time in almost 16 years of Bitcoin (BTC) history, says analyst…

Ripple recently transferred 470 million XRP, sparking market speculation over the transaction’s purpose. This significant transfer to an undisclosed wallet comes amid renewed bullish sentiment around XRP, especially following Donald Trump’s reelection today. Potential Reason Behind Ripple’s XRP Movement According to Whale Alert data, Ripple transferred 470 million XRP tokens worth $250.45 million to the wallet address, rP4X2…sKxv3. While the firm has not clarified the purpose of this large XRP transfer, on-chain data reveals that this unknown wallet later moved 100 million XRP, valued at $53.27 million, to another address (rhWt2…E32hk). 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨…

South Korea’s Opposition Party Rejects Proposal to Delay Crypto Taxes Until 2027 The Democratic Party of Korea, South Korea’s opposition party, has voiced its opposition to delaying the planned capital gains tax on virtual assets until 2027. Noh Jong-myun, the floor spokesperson for the Democratic Party, recently expressed the party’s stance against a proposed two-year postponement by the government and ruling party. This opposition highlights a political divide in South Korea over the regulation and taxation of cryptocurrencies, amid a period of rapid growth and increasing interest in digital assets. The ruling party has suggested deferring the implementation of crypto…

Six years ago, a tweet from Tesla CEO Elon Musk started one of the influential events in the adoption of Bitcoin. On October 28, 2017, Musk casually asked his followers, “Want to buy some Bitcoin?” Today, Bitcoin’s value has reportedly surged by roughly 1,000% since that moment, U.today reported. When Musk tweeted about Bitcoin for the first time, his Twitter account was reportedly locked, and some speculated he may have been hacked. At the time, cryptocurrency was still an emerging topic, and Bitcoin was trading far below today’s values. The tweet marked the beginning of Musk’s now well-known involvement with…

Tether will retire USDT from several chains with low activity, planning significant wallet transfers. All the external USDT tokens will revert to Ethereum versions. Tether’s USDT will consolidate on Ethereum, after the main issuer planned a series of chain swaps. Tether warned of the token movements to avoid a market panic. The biggest transfer will be for 1B TRON-based USDT, which will shift to Ethereum. The 1B tokens coincide with the same amount of authorized but not issued stablecoins. TRON’s supply will not change significantly, as the network already expanded to more than 62B tokens. The rest of the chain…

Former Bank of Spain Governor ES Pablo ES Pablo Hernández de Cos will replace Agustín Carstens as general manager of the Bank for International Settlements from July 1. He has called for the European Central Bank to work on its digital currency and was involved in setting global crypto banking rules in 2022. ES Pablo Hernández de Cos, a former governor of the Bank of Spain who has called for the European Central Bank to work on a digital euro, will become the general manager of the Bank for International Settlements in July, the organization said in a release on…