๐จ๐ฅBREAKING News : ๐ฅ Jerome Powell Canceled US $BTC Reserve๐จ๐ฅ
1๏ธโฃ Interest rates cut by 25 bps โ (Great news for crypto! ๐)
2๏ธโฃ Powell dismissed a Bitcoin reserve โ (Not so great for the market! ๐)
๐ What Does This Mean for Crypto?
A 25 bps cut eases crypto-related risks ๐ธ. Powell emphasized, "We regulate banks, not crypto directly" ๐ฌ, signaling less immediate regulatory pressure for the market.
๐ Europeโs Stance:
The European Central Bank (ECB) raised alarms โ ๏ธ on crypto risks, highlighting issues like excessive leverage, lack of transparency, and conflicts of interest ๐ง.
๐ Market Outlook:
โ 2025 Target Rates: Expected to drop to 400 bps ๐ โ This is bullish for crypto ๐ฅ!
โ World Liberty Financial Holdings: Holding $65M in ETH & WBTC ๐ โ Signaling strong confidence in the market!
โ Recent Market Dip: Seen as an emotional shakeout ๐คฏ. Weak hands have been cleared, setting the stage for new All-Time Highs (ATH) ๐.
โ $277M in liquidations indicate a major market shakeout before a possible rally ๐.
In summary: The 25 bps rate cut is good for crypto, while Powell's comments on Bitcoin reserves are less favorable ๐ฌ. Europeโs warning on crypto risks adds caution ๐, but a reduction in 2025 rates suggests a positive future for digital assets ๐ช.
