US PPI Inflation Cools To 2.2%, Crypto Market Recovery Ahead | MiconCrypto on Binance Square

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US PPI Inflation Cools To 2.2%, Crypto Market Recovery Ahead?
US PPI inflation cools to 2.2%, fueling optimism for a potential 50 bps rate cut by the Federal Reserve, and boosting crypto market recovery hope.......
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#BTC History may soon repeat itself! Bitcoin surpassing the $58,000 mark, altcoins have begun to show signs of recovery. However, caution is advised as markets are often volatile leading up to Federal Reserve announcements. Analyst Carl suggests that after a 200-day consolidation period, Bitcoin (BTC) $58,284 is poised for a potential rally of 200%. This perspective is strongly influenced by historical data. Follow Us X / trend like Share Repost

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Breaking: Binance Announces Hamster Kombat As 58th Launchpool Project Binance announced the introduction of Hamster Kombat (HMSTR) as the latest addition to its Launchpool platform. Moreover, the exchange will subsequently list the HMSTR token on its platform. This marks a significant victory for the recent launched gaming token. Eligibility Criteria & Details On Super Earn In addition to the Launchpool farming, Binance is also introducing HMSTR to its *Super Earn* program, which allows users to lock tokens for a specific duration to earn a special annual percentage rate (APR). While the exact APR for HMSTR will be announced later, the program will offer a 7-day locked period for users to earn the special APR rewards. The Super Earn rewards will be available on a limited-time basis, and users will be able to subscribe to up to 30,000 HMSTR tokens each, with 100 million HMSTR tokens reserved for the program. The exact details of the APR and daily percentage rate (DPR) will be released closer to the Super Earn launch date. Follow Us Like Share Comment Repost

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US PPI Cools To 1.7%, Is Fed’s 1.25% Rate Cut Plan Still On Table? The data from the United States Bureau of Labor Statistics, released on Thursday, show that the US PPI inflation increased 0.2% in August. This aligns with the Dow Jones consensus estimate teased before the readings came out. This important inflationary gauge comes amid increasing speculations in anticipation of a rate cut by the Federal Reserve. US PPI Report Comes Higher Than Expected The Producer Price Index measures the final demand goods and services costs that producers receive. Aside from food and energy, the released data shows the US PPI increased by 0.3%, which is a little higher than the 0.2% consensus estimate. Noteworthy, this core increase remained the same even when trade services were excluded. Based on 12-month trends, the headline US PPI saw a 1.7% increase. Similarly, the annual rate hit 3.3%, excluding food, energy and trade. Service prices contributed significantly to the PPI measure, with as much as a 0.4% monthly increase. This came from services like trade, transportation and warehousing. Guestroom rental with a 4.8% surge, was also a major contributor to the metric. managing director of trading and investing noted that the alignment of PPI’s repetition of yesterday’s US CPI inflation reading as well as its jobless claims with expectations, clears the decks for the Fed to kick off a rate-cutting cycle. “The markets are anticipating an initial 0.25% cut, but the discussion will soon turn to how far and fast the Fed is likely to trim rates over time. Lower Fed Interest Rates Cut to Boost Bitcoin Price Risk-on assets like Bitcoin could see a massive surge in their prices. This would mark a pivotal outlook considering that the broader crypto ecosystem is facing a downturn and prices are experiencing slow growth. There has been a major worry on potential crypto and stock crisis ahead per a leaked memo from the US SEC. With interest rate clarity in the coming days, investors might get closure,trend that might fuel market stability. Follow Us Like Share Comment

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SUI Price $2 In Sight If Markets Remain Bullish.🚀🚀🚀 The price of SUI is bullish on the daily time frame as it has broken above the 50-day and 200-day exponential moving averages (EMA). Sui flashed a death cross on May 24, which signaled that the following months would be bearish. However, with the recent markup in price, a golden cross could be in the making. The main resistance for the SUI price remains the $1.00 mark. In the past, the asset has broken beyond but has not sustained above it. If the daily candle can close above the $1.00 mark, SUI may turn from bearish to fully bullish. SUI also just completed an ascending triangle, a bullish continuation pattern. A breakout to the upside from this structure could add at least 47% to the current price of SUI, bringing it to $1.48. If the buy momentum maintains, SUI could surge higher and reach $2.00. On the flip side, if the price of SUI fails to maintain above the ascending triangle, it would signal market weakness, and the asset price could fall back into the triangle below the 200-day EMA. A further downside move could invalidate the current bullish thesis as the price seeks lower support around $0.75 and $0.64. Follow Us Like Share Comment Repost

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