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JUST IN: 🇺🇸 #FED Chair Jerome #Powell l says he "expects 2023 to be a year of significant decline in inflation."💲
#crypto2023
#pumpanddump
#crypto2023
#pumpanddump
Hot News on Cryptocurrency: Bitcoin and Ether Prices Soar on Powell's Inflation Comment and more.
$BTC - 23905.5$
$ETH - 1674.85$
#Btc #ETH #crypto2023 #bearorbull #Powell
$BTC - 23905.5$
$ETH - 1674.85$
#Btc #ETH #crypto2023 #bearorbull #Powell
#USDC the 2nd largest #stablecoin is no longer stable. It depegged from the U.S. dollar and is now trading at 91 cents. A portion of its reserves were held in a non-insured account at #SVB .Just one domino of many that are about to topple. I triple dog dare #Powell not to pivot.
#Powell claims the #Fed isn't doing QE because it's not printing money and buying bonds specifically to lower long-term interest rates. Therefor, its asset purchases don't qualify as QE. When the Fed does QE when it wants to its QE, but when it does it because it has to it's not.
NOW WAITING FOR #FOMC STATEMENT AND #Powell SPEECH
A DOVISH SPEECH COULD SPARK A REVERSAL FOR #BITCOIN
Forecast: 5.50%
Previous: 5.50%
📨Attention :
🟢You'll Get 3 Days Free Premium Trial Signal: Text m+e Tele/+(gr+m) Username - @GainerElara (only for first 5 person). So come first, book your seat 🤗
#fomc
#BTC
A DOVISH SPEECH COULD SPARK A REVERSAL FOR #BITCOIN
Forecast: 5.50%
Previous: 5.50%
📨Attention :
🟢You'll Get 3 Days Free Premium Trial Signal: Text m+e Tele/+(gr+m) Username - @GainerElara (only for first 5 person). So come first, book your seat 🤗
#fomc
#BTC
Will Bitcoin's rally come to a halt if Powell doesn't signal the end of tightening? Crypto observers believe so. With the Fed's interest rate decision looming, all eyes are on Powell's post-meeting press conference. Stay tuned for updates. #bitcoin #Powell #crypto2023
Powell Reiterated His Signal for More Rate Hikes! #Bitcoin Resists!
#Powell will speak today at 17.00 TSI in front of the Financial Services Committee of the House of Representatives of the US Congress.
The FED has released the text of Powell's speech to be delivered in front of congress.
Accordingly, Powell will reiterate his statements before congress that they are committed to reducing inflation and that more interest rate increases may be seen by the end of the year.
The heads of lines in Powell's speech text are as follows:
“With inflation remaining well above our long-term target of 2 percent and labor market conditions remaining tight, the Federal Open Market Committee (FOMC) has significantly tightened its monetary policy stance.
Since the beginning of last year, we have raised our policy interest rate by 5 percentage points and have continued to reduce our securities availability at a rapid pace. #BinanceTournament
It will take time for the full effects of monetary tightening, especially on inflation, to become apparent.
Almost all FOMC participants think it would be appropriate to raise interest rates a little more by the end of the year. October December, however, considering how quickly we moved at last week's meeting, we decided that it would be prudent to keep the target range constant to allow the committee to assess additional information and its implications for monetary policy.
In determining the size of the additional policy tightening that may be appropriate to return inflation to 2 October, we will take into account the cumulative tightening in monetary policy, delays in the impact of monetary policy on economic activity and inflation, economic and financial developments.
We will continue to take our decisions from meeting to meeting according to the sum of the incoming data and their reflections on the economic activity and inflation outlook, as well as the balance of risks.”
Powell's reiteration of his hawkish statements on June 14 did not affect Bitcoin. On the #BTC side, the $29,000 challenge is ongoing.
#CryptoNews #cryptocurrency
The FED has released the text of Powell's speech to be delivered in front of congress.
Accordingly, Powell will reiterate his statements before congress that they are committed to reducing inflation and that more interest rate increases may be seen by the end of the year.
The heads of lines in Powell's speech text are as follows:
“With inflation remaining well above our long-term target of 2 percent and labor market conditions remaining tight, the Federal Open Market Committee (FOMC) has significantly tightened its monetary policy stance.
Since the beginning of last year, we have raised our policy interest rate by 5 percentage points and have continued to reduce our securities availability at a rapid pace. #BinanceTournament
It will take time for the full effects of monetary tightening, especially on inflation, to become apparent.
Almost all FOMC participants think it would be appropriate to raise interest rates a little more by the end of the year. October December, however, considering how quickly we moved at last week's meeting, we decided that it would be prudent to keep the target range constant to allow the committee to assess additional information and its implications for monetary policy.
In determining the size of the additional policy tightening that may be appropriate to return inflation to 2 October, we will take into account the cumulative tightening in monetary policy, delays in the impact of monetary policy on economic activity and inflation, economic and financial developments.
We will continue to take our decisions from meeting to meeting according to the sum of the incoming data and their reflections on the economic activity and inflation outlook, as well as the balance of risks.”
Powell's reiteration of his hawkish statements on June 14 did not affect Bitcoin. On the #BTC side, the $29,000 challenge is ongoing.
#CryptoNews #cryptocurrency
$BTC has been displaying weakness and a downtrodden sentiment.
Despite a positive reaction yesterday, surpassing $43,500 and briefly touching $43,800, the Bulls struggled to sustain the price due to cautious statements from #Powell regarding delayed interest rate cuts.
The chart analysis indicates that the price found support around a critical point, aligning with the predicted area for a potential halt in the fall. The Bulls allowed the price to approach a crucial level, making the monthly close appear less impactful.
Interestingly, #SPOT continues to make cash purchases at lower values, contrasting with the prevalent sentiments in the market. Anticipating a counter-movement, it seems the Bulls might attempt to squeeze late #SHORT positions.
Despite the prevailing narrative of a decline, the failure of the #BEARS to drive the price below $40K suggests a potential rally. The accumulation of large buy orders around $39K/40K and the persistence of significant sell orders at $47K indicate a dynamic market with both sides positioning themselves cautiously.
#BTC🔥🔥
Disclaimer: This stellar analysis comes straight from the insightful UALIFI, a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial advice—just a thrilling ride in the crypto world! 🚀
Despite a positive reaction yesterday, surpassing $43,500 and briefly touching $43,800, the Bulls struggled to sustain the price due to cautious statements from #Powell regarding delayed interest rate cuts.
The chart analysis indicates that the price found support around a critical point, aligning with the predicted area for a potential halt in the fall. The Bulls allowed the price to approach a crucial level, making the monthly close appear less impactful.
Interestingly, #SPOT continues to make cash purchases at lower values, contrasting with the prevalent sentiments in the market. Anticipating a counter-movement, it seems the Bulls might attempt to squeeze late #SHORT positions.
Despite the prevailing narrative of a decline, the failure of the #BEARS to drive the price below $40K suggests a potential rally. The accumulation of large buy orders around $39K/40K and the persistence of significant sell orders at $47K indicate a dynamic market with both sides positioning themselves cautiously.
#BTC🔥🔥
Disclaimer: This stellar analysis comes straight from the insightful UALIFI, a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial advice—just a thrilling ride in the crypto world! 🚀
LIVE
EyeOnChain
--
Bearish
$BTC is currently experiencing a turbulent situation, falling to levels that were anticipated but not hoped for. The recent decline brought down altcoins as well, disrupting the expected longer distribution in the resistance.
There's a current effort by the market to recover from the earlier dip, potentially canceling out the negative impact of the recent red candle. The EMAs (Exponential Moving Averages) 100/200 are providing strong support, a positive sign for the bulls. The monthly close is imminent, and for an optimistic outlook, the price needs to stay above $42,100.
While there's hope for a positive outcome from the FOMC (Federal Open Market Committee) data today, the market sentiment is uncertain. The bears couldn't drive the price down to $42K, possibly indicating market anticipation for positive #FOMC data. Sales are accumulating at $47K, attracting significant interest from larger players, while buying support remains around $37K.
The final assessment is that today presents a significant opportunity for #BTC to break the resistance at $43,500. The absence of bearish momentum at $42,200 suggests a potential bullish dominance today. The $45K mark is in focus, and the economic agenda, if favorable, could trigger substantial FOMO (Fear of Missing Out) and propel the market upwards.
The market situation remains dynamic, and traders are closely watching the unfolding events, particularly the Fomc data impact on the broader market.
Disclaimer: This stellar analysis comes straight from the insightful UALIFI, a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial advice—just a thrilling ride in the crypto world! 🚀
There's a current effort by the market to recover from the earlier dip, potentially canceling out the negative impact of the recent red candle. The EMAs (Exponential Moving Averages) 100/200 are providing strong support, a positive sign for the bulls. The monthly close is imminent, and for an optimistic outlook, the price needs to stay above $42,100.
While there's hope for a positive outcome from the FOMC (Federal Open Market Committee) data today, the market sentiment is uncertain. The bears couldn't drive the price down to $42K, possibly indicating market anticipation for positive #FOMC data. Sales are accumulating at $47K, attracting significant interest from larger players, while buying support remains around $37K.
The final assessment is that today presents a significant opportunity for #BTC to break the resistance at $43,500. The absence of bearish momentum at $42,200 suggests a potential bullish dominance today. The $45K mark is in focus, and the economic agenda, if favorable, could trigger substantial FOMO (Fear of Missing Out) and propel the market upwards.
The market situation remains dynamic, and traders are closely watching the unfolding events, particularly the Fomc data impact on the broader market.
Disclaimer: This stellar analysis comes straight from the insightful UALIFI, a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial advice—just a thrilling ride in the crypto world! 🚀
Fed Chair Jerome Powell calls stablecoins “a form of money”
Federal Reserve Chair Jerome Powell testified in the House Financial Services Committee this week.
Powell discussed the potential of CBDCs and the status of #stablecoin in the Fed's opinion.
The Fed Chair also discussed inflation, reiterating that the Federal Reserve is committed to bringing it down to 2%.
With the #bitcoin price breaching the $30,000 mark, all eyes were on the crypto market on Wednesday. It seemed like the recovery investors had been waiting for had finally arrived. On the same day, US Federal Reserve (Fed) Chairman Jerome #Powell presented his views regarding certain aspects of the crypto space, which left the community surprised.
Fed Chair Powell calls crypto an asset class
In his testimony to the House Financial Services Committee on Wednesday, Federal Reserve Chair Jerome Powell shed light on multiple topics pertaining to the crypto as well as TradFi markets.
One statement that stood out was Powell calling stablecoins "a form of money". He also urged that there was a need for central bank oversight in order to create stablecoin regulation. Powell stated,
"We do see payment stablecoins as a form of money, and in all advanced economies, the ultimate source of credibility in money is the central bank. We believe it would be appropriate to have quite a robust federal role."
The Fed Chair also talked about the potential of a Central Bank Digital Currency (CBDC) but provided a disappointing answer stating that the US was a long way from making this happen.
On the prospect of a CBDC existing, Powell said that the central bank would not be managing retail accounts, i.e., accounts by an individual. Instead, these accounts would be managed through the country’s banks.
Powell further discussed the creation of legislation for cryptocurrencies and noted that two crypto bills are expected by July. Once the bills are through the debate and edit process, they would go forward for a Committee vote. This would bring regulation to the crypto market, which Powell stated had staying power as an asset class.
Jerome Powell also discussed the Traditional Finance (TradFi) market along with inflation. The Fed Chair stated that the central bank was still committed to bringing inflation down to 2%.
Powell also addressed the potential for dedollarisation in the East, stating that preserving the status of the US Dollar as the world's reserve currency is very important to the central bank. However, no course of action to make that happen was discussed by Powell.
Powell discussed the potential of CBDCs and the status of #stablecoin in the Fed's opinion.
The Fed Chair also discussed inflation, reiterating that the Federal Reserve is committed to bringing it down to 2%.
With the #bitcoin price breaching the $30,000 mark, all eyes were on the crypto market on Wednesday. It seemed like the recovery investors had been waiting for had finally arrived. On the same day, US Federal Reserve (Fed) Chairman Jerome #Powell presented his views regarding certain aspects of the crypto space, which left the community surprised.
Fed Chair Powell calls crypto an asset class
In his testimony to the House Financial Services Committee on Wednesday, Federal Reserve Chair Jerome Powell shed light on multiple topics pertaining to the crypto as well as TradFi markets.
One statement that stood out was Powell calling stablecoins "a form of money". He also urged that there was a need for central bank oversight in order to create stablecoin regulation. Powell stated,
"We do see payment stablecoins as a form of money, and in all advanced economies, the ultimate source of credibility in money is the central bank. We believe it would be appropriate to have quite a robust federal role."
The Fed Chair also talked about the potential of a Central Bank Digital Currency (CBDC) but provided a disappointing answer stating that the US was a long way from making this happen.
On the prospect of a CBDC existing, Powell said that the central bank would not be managing retail accounts, i.e., accounts by an individual. Instead, these accounts would be managed through the country’s banks.
Powell further discussed the creation of legislation for cryptocurrencies and noted that two crypto bills are expected by July. Once the bills are through the debate and edit process, they would go forward for a Committee vote. This would bring regulation to the crypto market, which Powell stated had staying power as an asset class.
Jerome Powell also discussed the Traditional Finance (TradFi) market along with inflation. The Fed Chair stated that the central bank was still committed to bringing inflation down to 2%.
Powell also addressed the potential for dedollarisation in the East, stating that preserving the status of the US Dollar as the world's reserve currency is very important to the central bank. However, no course of action to make that happen was discussed by Powell.
US economic data remains weak, Powell may take aggressive measures again👆
US data was much less friendly to the goldilocks narrative today, as a sharp -5.2% drop in durable goods orders was offset against stronger than expected initial claims (230k vs 240k last week), with bond yields rising around 3bp on the day despite the rough showing in equities today. Furthermore, Atlanta Fed's GDPNow was revised up even further to 5.9% for Q3, adding further hawkish pressures to Powell's Jackson Hole speech today, where he will be delivering a keynote on the topic of "Structural Shifts in the Global Economy". Both nominal and real (inflation adjusted) yields are going into the symposium at 90%-percentile highs going back to 2004. Last year's keynote was surprisingly brief, with Powell brutally explicit in trying to usher rates higher, leading to the infamous Q4 risk sell-off. Will the US economy still in decent shape, and inflation and labour markets only showing limited signs of softening despite rates at >5%, will the Chairman be looking for another Round 2 knock-out? Stay tuned!
#US #Powell #GDPNow #JacksonHole #rate
US data was much less friendly to the goldilocks narrative today, as a sharp -5.2% drop in durable goods orders was offset against stronger than expected initial claims (230k vs 240k last week), with bond yields rising around 3bp on the day despite the rough showing in equities today. Furthermore, Atlanta Fed's GDPNow was revised up even further to 5.9% for Q3, adding further hawkish pressures to Powell's Jackson Hole speech today, where he will be delivering a keynote on the topic of "Structural Shifts in the Global Economy". Both nominal and real (inflation adjusted) yields are going into the symposium at 90%-percentile highs going back to 2004. Last year's keynote was surprisingly brief, with Powell brutally explicit in trying to usher rates higher, leading to the infamous Q4 risk sell-off. Will the US economy still in decent shape, and inflation and labour markets only showing limited signs of softening despite rates at >5%, will the Chairman be looking for another Round 2 knock-out? Stay tuned!
#US #Powell #GDPNow #JacksonHole #rate
Florida Governor and US Presidential candidate Ron DeSantis has unveiled a 'Declaration of Economic Independence' that outlines some of the biggest financial challenges America currently faces. The declaration focuses on improving Americans' financial well-being and reinforcing the United States as the most dominant economy. DeSantis also pledged to let the cryptocurrency industry thrive and not allow the launch of a central bank digital currency (CBDC).
DeSantis, running for #President from the Republican side, has been one of the most vocal crypto supporters among all the candidates. His declaration touches upon America's current issues and his propositions for solving them, including keeping taxes low, reducing inequality in society, making the cost of living more affordable, and limiting illegal immigration.
DeSantis vowed to #strengthen the US banking sector by requiring 'clear language disclosures of shadow banks to increase transparency and better track systemic risks.' He also promised to #replace Federal Reserve #Chairman Jerome #Powell with someone who will aim at 'maintaining a stable dollar instead of the political pressures of the day.' DeSantis pledged to work against the possible creation of a CBDC by blocking any attempts by the Fed in this field, while supporting the advancement of the cryptocurrency industry and ceasing the 'politically driven debanking and financial doxing.'
Earlier this summer, DeSantis criticized President Joe Biden for waging a 'war on Bitcoin' and promised to end this hostile approach should he become the next political leader of the nation. He previously argued that the only reason why the government is against the crypto sector is because they cannot control it.
$BNB $USDC $ETH
DeSantis, running for #President from the Republican side, has been one of the most vocal crypto supporters among all the candidates. His declaration touches upon America's current issues and his propositions for solving them, including keeping taxes low, reducing inequality in society, making the cost of living more affordable, and limiting illegal immigration.
DeSantis vowed to #strengthen the US banking sector by requiring 'clear language disclosures of shadow banks to increase transparency and better track systemic risks.' He also promised to #replace Federal Reserve #Chairman Jerome #Powell with someone who will aim at 'maintaining a stable dollar instead of the political pressures of the day.' DeSantis pledged to work against the possible creation of a CBDC by blocking any attempts by the Fed in this field, while supporting the advancement of the cryptocurrency industry and ceasing the 'politically driven debanking and financial doxing.'
Earlier this summer, DeSantis criticized President Joe Biden for waging a 'war on Bitcoin' and promised to end this hostile approach should he become the next political leader of the nation. He previously argued that the only reason why the government is against the crypto sector is because they cannot control it.
$BNB $USDC $ETH
Upcoming earnings and data releases this week⚠️
Looking ahead, the market's focus next week shall be on earnings, with BoA and GS the two heavy weights that will be reporting on Tuesday, followed by MS, Tesla, Netflix, on Wednesday, TSMC on Thursday, and AMEX on Friday. On the data side, we'll have inflation data from the UK and EU, and US retail sales towards the end of the week. Finally, Powell will be speaking to the Economic Club of New York on Thursday just ahead of the FOMC's media blackout, offering the perfect forum for the Chairman to either acknowledge or push back against the Committee's recent dovish turn. Good luck and good trading into a busy week ahead!
#macro #DataRelease #Powell #EconomicClub #FOMC
Looking ahead, the market's focus next week shall be on earnings, with BoA and GS the two heavy weights that will be reporting on Tuesday, followed by MS, Tesla, Netflix, on Wednesday, TSMC on Thursday, and AMEX on Friday. On the data side, we'll have inflation data from the UK and EU, and US retail sales towards the end of the week. Finally, Powell will be speaking to the Economic Club of New York on Thursday just ahead of the FOMC's media blackout, offering the perfect forum for the Chairman to either acknowledge or push back against the Committee's recent dovish turn. Good luck and good trading into a busy week ahead!
#macro #DataRelease #Powell #EconomicClub #FOMC
