U.Today presents to you the top three stories over the past day; don't miss this piece!
Powell sending ripples through crypto market with crucial statements
During a news conference held on Wednesday, July 31, Federal Reserve Chair Jerome Powell stated that the central bank could execute a much-awaited rate cut this September. Powell pointed out that the economy is now "moving closer" to the point where it would be appropriate to lower the present policy rate, "but weâre not quite at that point." Previously, July was discussed as the month to implement the first rate cut; however, the Fed has unanimously decided to wait until the next meeting. Meanwhile, following Powell's speech, the likelihood of a September rate cut currently stands at 93.5%.Â
Shiba Inu eyes birthday rally, if SHIB price history proves itself
This month, August 2024, Shiba Inu meme crypto is celebrating its fourth anniversary. As the SHIB community is celebrating, investors are closely watching the SHIB token's price chart in anticipation of a potential rally. Based on Shiba Inu's history, August has always been a good month for the token, with an average return of 2.7% and a median return of 3.4%. It is rare for both the median and the average to be positive, which tends to support expectations. Due to this rarity, there is a higher chance that SHIB will close August on a positive note, raising optimism for a bullish trend as the summer ends.
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Here's how much Bitcoin BlackRock currently holds
On the BTC ETF market, the superiority belongs to the BlackRock iShares Bitcoin Trust (IBIT). According to recently released data on the asset manager's total Bitcoin holdings, they have grown to over 343,000 BTC. The precise amount of Bitcoin in BlackRock's possession constitutes 343,387.46220 BTC. At the current BTC price of $63,285, the holding is valued at $21,706,544,778.72 as of Aug. 1, 2024. In the meantime, as for its holdings in USD Cash, BlackRock holds a significant 326,384.95000 worth $326,384.95 in its portfolio.
