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Harris’s Team Reaches Out to Crypto Industry to Repair Relations
In a bid to improve relations with the cryptocurrency sector, Vice President Kamala Harris’s advisers have made significant efforts to reconnect with key figures in the crypto world. Recent reports from the Financial Times reveal that Harris’s team has reached out to major players in the industry. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
This outreach includes contacts with prominent cryptocurrency exchange Coinbase, stablecoin issuer Circle, and blockchain payments company Ripple Labs. These moves are part of a broader strategy to mend strained ties between the Democratic party and the cryptocurrency industry. Harris’s Outreach Aims to Build Positive Relations with Crypto Sector Vice President Kamala Harris’s team is making a concerted effort to repair and strengthen ties with the cryptocurrency industry. The goal is to foster a more constructive dialogue and establish a regulatory framework that supports the industry’s growth. This outreach comes as the crypto sector has increasingly aligned itself with Harris’s rival, Donald Trump, and in response to growing criticism of the Biden administration’s handling of digital assets.
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The initiative follows a letter from Democratic members of the US House of Representatives and 2024 candidates, urging the party to reevaluate its approach to the digital asset industry. The letter emphasizes the need to move away from a stance perceived as hostile. Advisers to Harris have clarified that this outreach is not mainly aimed at securing electoral contributions but is focused on building a positive relationship with the crypto sector. The objective is to develop a regulatory framework that supports the growth and stability of digital assets, which would benefit the broader financial ecosystem. Additionally, Harris’s efforts are part of a broader strategy to reshape the Democratic Party’s image among business leaders. The campaign aims to counter the perception that Democrats are anti-business, a sentiment exacerbated by the administration’s antitrust actions against tech companies. By promoting a message of being “pro-business, responsible business,” Harris seeks to demonstrate the party’s commitment to creating a favorable business environment.
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Trump’s Newfound Crypto Support Boosts Campaign Funding Donald Trump, who previously expressed skepticism towards cryptocurrencies, has recently become a prominent advocate for the sector. His shift in stance was highlighted by his keynote speech at the Bitcoin conference in Nashville on July 27, where he emphasized his newfound support for the industry. This change has significantly increased his backing from the crypto community, making it a crucial source of funding for his re-election campaign. Pro-crypto super PAC Fairshake, which supports Trump, has raised over $200 million from major backers like Coinbase, Ripple, and venture capital firm Andreessen Horowitz. Additionally, Trump’s campaign has received approximately $3 million in cryptocurrency donations since he announced his willingness to accept digital assets.
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This financial support reflects the growing influence of the crypto industry in the upcoming US election and underscores its role in shaping political funding dynamics. Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Harris’s Team Reaches Out to Crypto Industry to Repair Relations
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Solana to $2K and XRP to $100 – Expert’s Bold Forecast
A well-known crypto analyst has forecasted a huge price surge for Solana and XRP, predicting they could reach $2,000 and $100, respectively. The analyst also mentioned new opportunities that could deliver 200x returns, generating excitement in the crypto market. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
Investors are closely watching these predictions, eager to find out which cryptocurrencies might experience significant growth. Solana (SOL): A Promising Blockchain Gem Solana (SOL) stands out as a fast and efficient blockchain platform renowned for its high-speed transactions and low fees. Despite a recent dip in the market, Solana has demonstrated remarkable growth patterns akin to those observed in 2021. The platform’s robust technology and active developer community further enhance its appeal. Features such as proof-of-history position Solana as a potential cornerstone for future decentralized applications. Given the current market cycle, this could be an opportune moment to consider Solana, as it may be on the verge of another significant rally.
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XRP: A Promising Player in Cross-Border Payments XRP, the cryptocurrency behind Ripple’s network, demonstrates significant potential for the future. It seeks to transform cross-border payments by providing faster and more cost-effective transactions. Many financial institutions have already begun adopting Ripple’s technology, underscoring its growing influence in the financial sector. As the market recovers and potentially enters an altcoin season, XRP stands out as an appealing option. Given its performance patterns from 2021, now could be an ideal time to watch this promising underdog. Blast Coin Shows Promise for a Strong Recovery
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Blast Coin is capturing attention in the crypto world, showing potential for a strong rebound despite recent market downturns. Echoing patterns observed in 2021, Blast Coin appears to be on the verge of a breakout. It offers fast transaction speeds and robust security, making it suitable for everyday use. The coin’s underlying technology is designed to be both scalable and efficient, which could position it favorably as the market begins to trend upwards. For investors seeking new opportunities, Blast Coin presents an appealing option. zkSync (ZK) Emerges as a Promising Altcoin Amid Market Fluctuations zkSync (ZK) is gaining attention as a promising altcoin despite recent market drops. Its innovative technology focuses on faster and more secure transactions, making it an appealing choice for traders in search of the next big opportunity.
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With features like zero-knowledge proofs, zkSync ensures both privacy and efficiency, potentially setting it apart as a game-changer in the crypto space. If historical trends continue, zkSync could become a standout performer in the current market cycle. Summary of Promising Altcoins Solana (SOL) is a fast, efficient blockchain known for its high-speed transactions and low fees. Despite recent market dips, Solana’s growth patterns and strong technology, including features like proof-of-history, suggest it could be gearing up for another major rally.
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XRP, the coin behind Ripple’s network, is poised to revolutionize cross-border payments by making transactions faster and cheaper. With increasing adoption by financial institutions and potential market recovery, XRP stands out as a promising altcoin for the current cycle. Blast Coin has shown signs of a strong recovery despite recent market downturns. Offering fast transaction speeds and solid security, it is positioned well for a breakout similar to patterns seen in 2021. zkSync (ZK) is gaining attention for its innovative technology, which ensures faster and more secure transactions. Its use of zero-knowledge proofs for privacy and efficiency makes it a standout candidate for future growth if past patterns persist.
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Solana to $2K and XRP to $100 – Expert’s Bold Forecast
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Best Memecoins to Buy as Crypto Market Turns Bullish
As Bitcoin’s price has risen back to $67,000, mid-cap altcoins have shown a strong bullish turnaround. Memecoins have also followed this trend, significantly increasing in value. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
In this article, we highlight the top 2 memecoins that could lead the memecoin craze in the upcoming crypto bull run.
WIF Memecoin Price Analysis and Market Outlook Amid growing bullish sentiment, the WIF memecoin has seen a notable price increase of 6.79% over the past week and 29.49% in the last 30 days. With a year-to-date return of 1,598% and a market cap of $2.591 billion, WIF holds the 33rd position on the global crypto list.
TradingView: WIF/USDT
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However, technical indicators present a mixed outlook. The Simple Moving Average (SMA) has shown a bearish crossover on the daily time frame, while the MACD indicator reveals a consistent decline with neutral averages. This suggests weak price action for the memecoin in the current market. If the market gains momentum, WIF’s price could break through its resistance level and rise towards its upper target of $4. Conversely, if bearish trends continue, the price could fall to its lower support level of $2. Bonk Memecoin Price Analysis and Market Outlook
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Bonk, the second most successful memecoin on the Solana chain, has increased by 22.37% over the past 30 days and surged approximately 110% this year. The memecoin has tested its key support level of $0.0000270, signaling strong bullish sentiment.
TradingView: BONK/USDT The Relative Strength Index (RSI) has recently retested its mid-point and is nearing a bullish crossover on the daily time frame. This suggests a high likelihood of a bullish reversal in the coming weeks.
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If the market maintains the BONK price above its crucial support level of $0.0000270, it may rise towards its upper resistance level of $0.00003390. However, if bearish trends prevail, the price could drop to its lower support level of $0.00002125.
Best Memecoins to Buy as Crypto Market Turns Bullish
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Kennedy’s Pro-Bitcoin Policies May Boost BTC If Elected
As the US presidential elections get closer, the outcome could greatly affect the future of cryptocurrency. The main candidates are Republican Donald Trump, Democrat Kamala Harris, and independent Robert Kennedy. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
Although Kennedy is currently polling low, his support for cryptocurrencies could make Bitcoin’s future look bright if he wins. His pro-crypto policies might boost Bitcoin and create a more positive outlook for digital assets.
Kennedy’s Potential Impact on Bitcoin if Elected Robert Kennedy Jr., the independent presidential candidate, has shown strong support for cryptocurrencies, especially Bitcoin. His proposed policies include backing the American dollar with precious metals and Bitcoin if elected. Kennedy also promises to enable public control over digital wallets, passwords, and nodes, and to initiate a government Bitcoin purchasing program. These positions are seen as radical yet positive for the crypto community.
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Currently, Kennedy is trailing behind major candidates Donald Trump and Kamala Harris, who each have over 40% of voter support, while Kennedy holds less than 10%. Despite his low polling numbers, analysts find his potential presidency intriguing. If Kennedy were to win, it could significantly boost confidence in Bitcoin, potentially leading to increased buying activity and driving prices higher. However, this scenario remains speculative given his current standing. Implications of US Presidential Candidates on the Crypto Market Different US presidential candidates bring varied implications for the cryptocurrency market. Donald Trump has recently adopted a more favorable view towards cryptocurrencies, which could drive positive sentiment if he is elected. Conversely, Kamala Harris is expected to maintain the current administration’s cautious approach towards digital assets. Investors and market participants are closely monitoring how these positions might influence regulatory frameworks and market performance.
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Robert Kennedy Jr., an independent candidate, not only supports but also personally invests in Bitcoin. After the Bitcoin 2023 conference in Miami, he bought two Bitcoins for each of his seven children when the cryptocurrency was priced around $27,000. This personal investment of nearly $380,000 has more than doubled in value with current market conditions, highlighting his commitment to Bitcoin and belief in its potential. In summary, the upcoming US presidential elections could have significant implications for the cryptocurrency market. Although Kennedy’s current low polling numbers make his victory seem unlikely, his pro-crypto policies could infuse the market with optimism and bullish sentiment if implemented. Meanwhile, Trump’s and Harris’s contrasting positions further complicate the potential outcomes for the crypto industry. The results of the elections are expected to play a crucial role in shaping the future of digital assets in the United States.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Kennedy’s Pro-Bitcoin Policies May Boost BTC If Elected
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BlackRock Bitcoin ETF Hits $523M Inflows; Sets Four-Month High
BlackRock’s spot Bitcoin ETF has recently seen a remarkable increase in investor interest, with significant inflows recorded. In contrast, Grayscale’s newly converted Ethereum Trust experienced outflows. However, overall Ethereum investment funds managed to stay in positive territory. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
Asset manager Bryan Courchesne provided an insightful perspective on these market movements, highlighting the contrasting trends in investor behavior towards Bitcoin and Ethereum funds
BlackRock Bitcoin ETF Sees Huge Inflows On July 23, BlackRock’s iShares Bitcoin Trust ETF (IBIT) experienced a significant inflow of $523 million, marking the largest single-day addition in the past four months. This substantial inflow indicates a renewed confidence in Bitcoin, increasing the fund’s total assets to 333,000 Bitcoins. This surge reflects a growing enthusiasm in the cryptocurrency market, particularly for Bitcoin, which is often considered the gold standard among digital assets.
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Several factors are driving this renewed interest. Firstly, the potential for clearer regulatory frameworks and greater acceptance of Bitcoin ETFs in mainstream financial markets offers institutional investors a more accessible way to gain Bitcoin exposure without the complexities of direct acquisition. Secondly, macroeconomic factors, such as concerns about inflation and geopolitical tensions, are pushing investors toward Bitcoin as a hedge against traditional market uncertainties. Ethereum ETFs Show Mixed Performance Amid Investor Interest While BlackRock’s Bitcoin ETF experiences a significant boost, Ethereum ETFs present a more complex scenario. Grayscale’s Ethereum Trust has faced notable outflows, yet the broader Ethereum investment landscape remains positive, with a net inflow of $106.6 million in the early trading days. This suggests that despite some investors withdrawing, others still view Ethereum as a promising long-term investment.
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Among Ethereum-focused funds, BlackRock’s iShares Ethereum Trust ETF has seen the most substantial inflows, totaling $266.5 million, reflecting strong investor confidence. The Bitwise Ethereum ETF also attracted significant interest with $204 million, and Fidelity’s Ethereum Fund ETF garnered $71.3 million. These figures indicate a strong and varied investor interest in Ethereum, highlighting a robust market sentiment despite some recent outflows. Bitcoin as a Strategic Reserve Asset: Bryan Courchesne’s Proposal Bryan Courchesne, an asset manager, has proposed that Bitcoin could become a strategic reserve asset for the US government. He highlighted that the US Department of Justice currently holds 200,000 Bitcoins, making it the second-largest holder of Bitcoin globally. Courchesne suggested that transferring these holdings to the US Treasury could be a strategic move, enabling the nation to secure a valuable digital asset for the long term.
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This proposal raises important questions about the potential role of cryptocurrencies at the governmental level. If the US were to officially recognize Bitcoin as a reserve asset, it could lead to broader acceptance and integration of cryptocurrencies within the global financial system. Such a move might also encourage other countries to adopt similar strategies, potentially contributing to a more stabilized and regulated cryptocurrency market. In Summary: Evolving Dynamics in Bitcoin and Ethereum ETFs Recent developments in Bitcoin and Ethereum ETFs reveal a dynamic and evolving market landscape. BlackRock’s substantial inflows into its Bitcoin ETF underscore a resurgence of investor confidence in Bitcoin. Meanwhile, Ethereum ETFs present a mixed but positive performance, reflecting ongoing investor interest despite some fluctuations.
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Expert opinions suggest that Bitcoin could potentially play a more prominent role at the national level, possibly reshaping how cryptocurrencies are viewed and integrated within the financial ecosystem. As the market continues to evolve, staying informed and making decisions based on reliable information will be crucial for investors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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BlackRock Bitcoin ETF Hits $523M Inflows; Sets Four-Month High
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According to CoinGecko data, Shiba Inu (SHIB) and Dogecoin (DOGE) are among the worst performers in the crypto market right now. SHIB has dropped by 3.5%, while DOGE is down 2.5%. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
In contrast, Bitcoin (BTC) has decreased by only 0.9% in the same period. Other major cryptocurrencies, like XRP, are showing positive gains.With leading meme coins underperforming, the question remains: Can Dogecoin make a comeback? Meme Coin Sector Sees Widespread Losses The meme coin sector is experiencing a broad downturn, with several key players facing significant losses. Dogwifhat (WIF) has dropped by 6%, and all meme coins with a market cap over $1 billion have seen declines in the past 24 hours. Bonk (BONK) and Brett (BRETT) have also fallen by more than 5%, while Pepe (PEPE) and Floki Inu (FLOKI) are down 3.1% and 4.9%, respectively.
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In contrast, Mog Coin (MOG) stands out as the only well-established meme cryptocurrency to show a slight increase of 1.7%. Meme Coin Sector Faces Challenges: Blue-Chip vs. Celebrity Tokens While blue-chip meme coins are currently underperforming, they still fare better than celebrity-themed tokens. After experiencing significant price surges in June and gaining widespread media attention, most celebrity-inspired tokens have now plummeted by over 90%. Notably, Iggy Azalea’s MOTHER token has dropped more than 70%. The celebrity meme coin sector has also been marred by fraudulent activities, with bad actors impersonating well-known figures like 50 Cent.
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Analyst Predicts Dogecoin Rally Following Consolidation Earlier this week, cryptocurrency analyst Ali noted that Dogecoin often experiences a rally after a period of consolidation. He indicated that he was buying more DOGE, suggesting he expects a similar pattern to unfold this time. Over the past two weeks, DOGE has risen by as much as 14%. Despite this recent gain, the leading meme coin remains down 82.2% from its all-time high achieved during the 2021 bull run
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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PEPE Struggles with Resistance and Lags Behind Other Altcoins
PEPE is facing difficulty breaking through a major resistance level. Currently, around 56.48 trillion PEPE are close to becoming profitable, which could create selling pressure and potentially push the price down. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
The price of PEPE is struggling to move above its key resistance of $0.00001369, and is currently trading at $0.00001205. This ongoing struggle raises concerns that any potential price increase might be quickly followed by selling.
PEPE Price Struggles with Key Resistance and Potential Selling Pressure PEPE is testing a crucial resistance level, which, if surpassed, could lead to significant gains for investors. According to the Global In/Out of the Money (GIOM) indicator, about 56.48 trillion PEPE are nearing profitability, having been purchased between $0.00001100 and $0.00001300. If the price reaches the upper boundary of its current consolidation zone, it could deliver around $628 million in gains to PEPE holders. However, this potential for profit does not guarantee a bullish trend. If the broader market remains bearish, investors may choose to sell their assets to lock in gains and mitigate losses. This sentiment is supported by the Market Value to Realized Value (MVRV) ratio, which assesses the profit and loss of investors.
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Currently, PEPE’s 30-day MVRV data stands at 15%, signaling profitability and possible selling pressure. Historically, PEPE has experienced corrections when the MVRV falls between 18% and 48%, often considered the danger zone. Thus, rising profits might push PEPE into this danger zone, potentially leading to a downward price move.
PEPE Price to Consolidate Amid Resistance Currently trading at $0.00001205, PEPE is expected to maintain its consolidation phase until broader market conditions become more bullish. The potential for profit-taking is a key factor, as investors may sell off their holdings before PEPE can breach the $0.00001369 resistance level.
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As a result, the price is likely to remain below this resistance and may not reclaim any previous uptrend support. Should selling pressures exceed expectations, a drop below $0.00001146 becomes more probable. This decline could push PEPE’s price to around $0.00001007, invalidating the current neutral outlook and potentially leading to increased losses.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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BONK’s price has recently surged by 8% over 48 hours after bouncing off a crucial support level. This uptick in price indicates positive short-term momentum. However, caution is advised due to the rising wedge pattern that BONK has been forming. This technical pattern often precedes a breakout, but it also suggests potential volatility. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
At present, BONK is trading at $0.00002906, reflecting an 8% increase from its recent support level of $0.00002823, following a brief dip. The next significant resistance level to monitor is $0.00003592, which could be a critical point for further price movement. BONK Price Testing Key Level and Market Dynamics BONK is currently testing a crucial level of $0.00002940, which previously acted as a strong resistance zone but was recently broken on July 19. A breakout above this level could signal a bullish rally towards the next resistance at $0.00003592.
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Source: Tradingview Analysis of the Bitmex liquidation heatmap, based on Coinglass data, reveals that most trading liquidations are concentrated around these price levels. This suggests that many investors have set their stop-loss orders here, which could increase market volatility. The recent increase in BONK liquidations, particularly in short positions, might have contributed to the recent upward price movement. Additionally, open interest-weighted funding rate data shows significant volatility over the past two months.
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Source: Coinglass Currently, the funding rate is at a neutral equilibrium level of zero, indicating a balanced market sentiment in terms of funding rates. BONK’s Price at a Critical Juncture: Technical Outlook and Potential Breakout BONK’s price is currently at a critical point, with the rising wedge pattern serving as a bearish indicator that often signals a potential downward breakout. However, this bearish pattern may be invalidated if BONK manages to break above the rising wedge’s resistance level, which could lead to a bullish breakout instead.
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The recent sharp 8% increase from support levels highlights strong short-term buying pressure. This surge suggests that there could be significant upward momentum if BONK surpasses the key resistance level of the rising wedge. Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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The crypto market is eagerly awaiting important events this week that could affect the Fed’s plans for interest rate cuts. Key events include the FOMC’s interest-rate decision, Fed Chair Jerome Powell’s press conference, and US job data. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
These events are expected to provide crucial insights into the US Federal Reserve’s policy plans, making this week significant for both the crypto market and the broader financial sector. Crypto Market Eyes FOMC Meeting and Powell’s Speech for Rate Cut Cues The crypto market is keenly awaiting the upcoming FOMC event, where it anticipates signals about the Federal Reserve’s potential rate cut plans. While the market expects the central bank to hold its policy rates steady at the next meeting, there is growing speculation about three rate cuts in 2024.
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According to the CME FedWatch Tool, there is an 89% chance that the Fed will announce a 25 basis points rate cut in September. Additionally, expectations for further cuts in November and December have increased, fueled by recent cooling inflation data. Federal Reserve Chair Jerome Powell’s upcoming speech will also be crucial. Dovish comments from Powell could trigger a market rally, while hawkish remarks might dampen market sentiment. Both crypto market enthusiasts and the broader financial sector will be closely watching Powell’s insights, as they could significantly impact market dynamics. US Unemployment Data to Impact Markets Another important event for the market is the release of US unemployment data for July, scheduled for August 2. This data will offer investors crucial insights into the health of the labor market.
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The US Federal Reserve closely monitors this data as it plays a significant role in shaping policy rate decisions. Higher unemployment rates and lower non-farm payroll data often enhance sentiment in both the crypto market and the broader financial sector. Market estimates forecast that the US unemployment rate will decrease to 190,000 in July, down from 206,000 in June, with the unemployment rate expected to remain steady at 4.1%. This information will be vital for assessing the labor market’s direction and its potential impact on the Fed’s policy decisions. What’s Next for the Crypto Market and What to Expect As the cryptocurrency market anticipates significant upcoming events, speculation is running high. The potential rate cuts, combined with Federal Reserve Chair Jerome Powell’s remarks and the upcoming job data, could lead to major market shifts. Investors are keenly awaiting how these factors will influence the broader financial landscape.
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The market’s reaction to these events will offer valuable insights into its resilience and adaptability. This week could prove pivotal, illustrating the close relationship between traditional financial policies and the emerging digital asset market. Last week was particularly positive for the crypto market, with the SEC approving the US Spot Ethereum ETF and the Bitcoin Conference 2024 taking place in Nashville. The conference featured several speakers offering a bullish outlook on Bitcoin and highlighting the US’s growing focus on the crypto sector.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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Bitcoin’s Social Media Buzz Peaks as Price Nears $68K
According to Santiment data, social media mentions of “Bitcoin” are currently more positive than they have been in the past 16 months. This positive shift in sentiment aligns with Bitcoin’s recent price rebound, which has improved traders’ feelings to levels not observed in over a year. 30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
This trend is based on the tracking of positive and negative comments about Bitcoin across social media platforms. Bitcoin’s Price Rally Boosts Social Media Sentiment to 16-Month High Santiment reported on July 27 that Bitcoin’s recent 20% price rally over the past three weeks has significantly increased traders’ bullish sentiment. Currently, Bitcoin (BTC) is trading at $67,708, up 6.22% since July 25, according to CoinMarketCap data.
Source: X/Santiment
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The firm highlighted that its Weighted Sentiment Index, which measures Bitcoin mentions on X and compares positive to negative comments, has reached a 16-month high in positive sentiment. The ratio of positive versus negative comments about BTC has surged to its highest level since March 2023, as Bitcoin’s all-time high comes back into focus. Surge in Bitcoin Sentiment Following Trump’s Speech and New Legislation The recent spike in positive sentiment around Bitcoin has been fueled by anticipation leading up to former US President Donald Trump’s speech at the Bitcoin 2024 Conference in Nashville on July 27. Trump outlined his vision to transform the US into the “Crypto capital of the world” and predicted that Bitcoin might one day surpass gold in value. He praised Bitcoin as “not just a marvel of technology, but a miracle of cooperation and human achievement.”
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In the wake of Trump’s speech, pro-crypto Senator Cynthia Lummis introduced a bill proposing a “strategic Bitcoin reserve.” This bill suggests that the US government should acquire 5% of the world’s Bitcoin supply and hold it for at least 20 years. Additionally, the Crypto Fear and Greed Index has reflected this growing optimism, showing a “Greed” score of 71, which is up 24 points since June 28. Bitcoin Sentiment Shift: From Fear to Greed in Just One Month Just a month ago, the Weighted Sentiment Index revealed a surge in negative comments about Bitcoin, coinciding with its price being 4% lower at around $65,000 on June 21. Santiment noted on June 20 that this extended period of fear, uncertainty, and doubt (FUD) was unusual, with traders showing signs of capitulation.
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The prevailing sentiment at that time was one of fear or disinterest, as Bitcoin’s price fluctuated between $65,000 and $66,000. This shift contrasts sharply with the current positive sentiment and price surge, highlighting a significant change in market perception over the past few weeks.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.