CryptoBuzz Posts

Financial conditions tightened since the Fed cut rates. Why? 🐝 ~ ~ Since the Federal Reserve’s 50 basis point rate cut in September, financial conditions have tightened rather than loosened. This paradox arises from the Fed’s influence primarily on short-term rates, with market forces more significantly impacting long-duration rates. Following the cut, long-term yields increased due to positive economic data and aggressive pricing for a potential recession. Consequently, borrowing costs have risen across the economy, particularly affecting long-term loans and mortgage rates. This highlights the importance of looking beyond just the federal funds rate to assess overall financial conditions. @CryptoBuzzPosts 🐝 ~ ~

Kraken to Launch its Blockchain ‘Ink’, No Native Token Planned 🐝 ~ ~ Kraken plans to launch its own blockchain, Ink, in early 2025, designed for decentralized applications (dApps) in trading, borrowing, and lending. Ink will be a Layer-2 blockchain, utilizing Optimism’s OP Stack, similar to Coinbase’s Base. A test version will roll out later this year for developers. Initially, Kraken will act as the chain’s sequencer but aims to decentralize this role over time. Unlike competitors, Kraken will not release a native token. The exchange is also facing regulatory challenges from the SEC over certain digital assets, which it contests as not qualifying as securities. @CryptoBuzzPosts 🐝 ~ ~

GOAT Meme Coin Blasts Into Top 100 Tokens Following Binance Futures Listing 🐝 ~ ~ Goatse Maximus (GOAT), a Solana meme coin conceived by an AI bot, reached an all-time high of nearly $0.88 and entered the top 100 cryptocurrencies by market cap after Binance announced futures trading for the token. Created from an infamous 2004 meme, the coin gained traction through the Twitter-based AI chatbot Truth Terminal. In just two weeks post-launch, GOAT became the largest token from meme coin factory Pump.fun. Following its peak, GOAT currently ranks as the 12th largest meme coin by market cap, although its price has dipped to around $0.76. @CryptoBuzzPosts 🐝 ~ ~

Shiba Inu (SHIB) Rockets 540% in 24 Hours in Bullish Whale Activity 🐝 ~ ~ The Shiba Inu (SHIB) cryptocurrency has experienced a significant increase in activity among large investors, with a 540% rise in Large Holders Netflow over 24 hours. This metric tracks the flow of SHIB tokens into wallets of those holding 0.1% of the circulating supply, indicating a strong accumulation by wealthy investors. The net flow surged from -48.1 billion to 265 billion SHIB, the highest in a week, driven by substantial inflows and reduced outflows. This trend suggests heightened interest among whales in SHIB, prompting speculation about its potential impact on the cryptocurrency’s price. @CryptoBuzzPosts 🐝 ~ ~

Number Of Bitcoin Bulls Increases As Funding Rate Shows Steady Growth – Details 🐝 ~ ~ Bitcoin has rebounded from a recent dip to around $67,100 after experiencing a decline from its recent high of $69,500. Despite this pullback, the cryptocurrency remains in a bullish trend established since early September. Key indicators, such as the growing average funding rate on CryptoQuant, reflect increasing bullish sentiment among traders. Analysts anticipate that the upcoming weeks will be critical as Bitcoin approaches its March all-time high. It’s essential for Bitcoin to maintain support above $65,000 to avoid potential corrections. If BTC can break above $70,000, it may set the stage for a significant rally towards new highs. @CryptoBuzzPosts 🐝 ~ ~

Crypto market will be calm before US election: analysts 🐝 ~ ~ A report by Bybit and Block Scholes indicates a calm crypto market ahead of the U.S. election, featuring low short-term volatility but sustained bullish sentiment. Traders appear optimistic, positioning themselves for potential market changes, despite a notable decline in implied volatility for 7-day options, signaling less expected immediate price movement. In contrast, longer-term options demonstrate higher implied volatility, reflecting anticipation of significant shifts post-election. Positive funding rates across various tokens suggest growing bullish bets, particularly in Bitcoin call options. The report hints at possible substantial movement after the election, with Bitcoin potentially surpassing the $70,000 mark. @CryptoBuzzPosts 🐝 ~ ~

BingX Exchange Restores Full Operations Post $43 Million Hack 🐝 ~ ~ BingX Exchange has restored its operations following a September hack that resulted in the theft of over $43 million in various cryptocurrencies, including stablecoins like USDT and USDC. The company has reinstated all deposit and withdrawal services, assuring clients their funds are secure. To further enhance security, BingX introduced a cybersecurity program called ShieldX. Additionally, the exchange has pledged to compensate all victims of the hack from its own resources, aiming to regain user trust through these measures. Overall, BingX has swiftly bounced back from the incident, reinforcing its commitment to client safety. @CryptoBuzzPosts 🐝 ~ ~

U.S. Weekly Jobless Claims Hit New Low Since Late September Click to see more

U.S. Spot Bitcoin ETF Holdings Surpass 1 Million BTC Click to see more

Dollar Decline Linked to Potential November Rate Cut by Federal Reserve Click to see more

Dollar Decline Linked to Potential November Rate Cut by Federal Reserve Click to see more

Denmark proposes taxing unrealized crypto gains as it does with some traditional financial contracts 🐝 ~ ~ Denmark is proposing a new taxation model that would impose a 42% tax on unrealized gains from cryptocurrencies, aligning digital assets with existing rules for financial contracts. This inventory-based taxation requires annual calculations of gains and losses based on the value of holdings, allowing for losses to offset gains and be carried forward. While the system may ease administrative burdens for traders, it raises liquidity concerns as individuals may owe taxes on paper gains without liquidating assets. The proposal aims to create consistency in taxation while reflecting broader regulatory scrutiny of cryptocurrencies in Europe, potentially discouraging speculative investment. @CryptoBuzzPosts 🐝 ~ ~

BNB Surpasses 590 USDT with a 1.01% Increase in 24 Hours Click to see more

Nigeria drops money laundering charges against Binance exec Tigran Gambaryan 🐝 ~ ~ Nigeria has dropped all charges against Binance executive Tigran Gambaryan, including money laundering and tax evasion. The case primarily focused on Binance, which has denied the allegations. Gambaryan’s health issues reportedly influenced the decision to dismiss the case; he has been detained in Kuje prison, suffering from medical conditions like a herniated disk and pneumonia. Binance emphasized that Gambaryan was not a company decision-maker. The same day charges were dropped, the U.S. announced a partnership with Nigeria to combat crypto-related crime. Prior to his role at Binance, Gambaryan gained recognition as an IRS agent investigating cyber crimes. @CryptoBuzzPosts 🐝 ~ ~

Will ApeCoin (APE) Price Drop Below $1? 🐝 ~ ~ ApeCoin (APE) has seen a 15% price drop in the last 24 hours after a 100% surge earlier. The 7D MVRV indicates that holders are experiencing an average unrealized loss of 11.85%, suggesting weak market sentiment. The RSI has dropped to 45.68 from over 90, signaling a neutral momentum. Key support levels are at $1.12 and $0.94, while resistance is at $1.34 and $1.47. The EMAs show fading bullish momentum, indicating potential further downside before a recovery. Without a rebound at the -13% MVRV level, corrections may continue before any significant price reversal occurs. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin(BTC) Surpasses 67,000 USDT with a 0.47% Increase in 24 Hours Click to see more

Bitcoin Bounces Above $67,000 as Traders Navigate a ‘Liquidity Hunt’ Post-Surge 🐝 ~ ~ Bitcoin’s price has rebounded to around $67,500 after dipping to a ten-day low of $65,160. Following a surge to nearly its all-time high of $69,000, experts suggest this decline may be part of a “liquidity hunt,” where the market clears leveraged positions before resuming its upward trend. Analysts predict a retest of the $70,000 resistance but caution that a major breakout may not occur until after the U.S. presidential election on November 5. Market sentiments favor a Trump win due to his crypto-friendly stance, contributing to Bitcoin’s resilience amid upcoming economic indicators. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin Retail Investor Accumulation Slows, Large Investors Increase Holdings Click to see more

Predictions Of Cycle Top And Next Bear Market Bottom 🐝 ~ ~ Bitcoin (BTC) is currently experiencing a correction, trading below the critical $66,000 support level after attempts to surpass $70,000. Analysts note a bullish shift in the MACD for the first time since October 2023, reminiscent of the 2021 bull market. Crypto analyst CryptoBullet highlights the potential for significant price gains, predicting a new all-time high between $95,000 and $100,000 by early 2025, followed by a bear market bottom around $23,000 to $25,000. He emphasizes the uncertainty of these projections, indicating that macroeconomic changes could lead to even higher targets for Bitcoin. @CryptoBuzzPosts 🐝 ~ ~

Will Harris’ Crypto Commitments Outweigh Trump’s Promises? 🐝 ~ ~ As the 2024 US presidential election approaches, candidates Kamala Harris and Donald Trump are vying for the crypto community’s support. Harris promises to reduce regulatory burdens, aligning herself with pro-crypto rhetoric, but her connection to the Biden administration raises skepticism regarding her commitment. Conversely, Trump’s evolving stance, including accepting crypto donations and launching a crypto platform, resonates positively with the community. Financial analysts predict Bitcoin could soar to $90,000 if he wins. Overall, while changes are anticipated in crypto regulation, the candidates’ contrasting approaches leave the crypto community cautiously optimistic about the future of digital currencies. @CryptoBuzzPosts 🐝 ~ ~