🚨 Summary of Key Economic and Crypto News in the Last 24 Hours:
🔵 Massive Liquidations in the Crypto Market:
• 245,425 traders were liquidated, with total losses amounting to $656.60 million.
• The largest single liquidation occurred on Binance for the ETHUSD_PERP pair, valued at $4.07 million.
🟢 Federal Reserve Decision (18/12/2024):
1. Interest rates reduced by 25 basis points, totaling 100 basis points for 2024.
2. Dissent from Cleveland Fed President Beth Hammack.
3. Two more rate cuts expected in 2025, amounting to 50 basis points.
4. Inflation forecasts for the end of 2025 adjusted from 2.1% to 2.5%.
5. Unemployment rate projected to reach 4.3% by the end of 2025.
6. No further rate cuts anticipated beyond 2025.
📉 Impact: Positive for the USD, negative for gold and financial markets.
🇺🇸 Powell’s Striking Comments:
• Jerome Powell: “We are not allowed to own Bitcoin, and we have no plans to change this law.”
• This statement negatively impacted the crypto market, reflecting the Federal Reserve’s cautious stance on digital assets.
💥 Financial Markets:
• The U.S. stock market saw a massive wipeout of $1.50 trillion today.
• Crypto market liquidations reached $310 million so far.
Stay tuned for more daily updates and in-depth analysis of economic and financial news.
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