Crypto Fear & Greed Index

Ripple (XRP) left crypto enthusiasts scratching their heads on Thursday with a mysterious XRP whale activity involving a transaction of 100 million XRP tokens worth $57.92 million, the local media reported.

According to the details, XRP enthusiasts suspected foul play behind the curtains after an XRP whale moved 100 million XRPs. Despite the mysterious activity, many analysts believe that XRP’s recent partial victory in its long-standing legal scuffle with the US Securities and Exchange Commission (SEC) is set to open floodgates of price growth in the coming months. Others believe a lot is yet to be done to ensure a steady growth for Ripple and dubious XRP whale activity will not help the cause.

 

Dubious Whale Activity Leaves XRP Community Concerned

It wasn’t long ago when the XRP community celebrated Ripple’s partial victory in its much-hyped legal battle against the US SEC. Since then, the XRP price has fluctuated around $0.51 to $0.62. However, a major development left the community concerned on Thursday when an XRP whale moved 100 million XRP tokens worth $57.92 million to a crypto exchange Bitso, Whale Alert, a leading crypto tracking service reported.

 

 

Whale Alert flagged the massive transaction to Bitso, which took place on September 19, 2024, involving a wallet linked to Ripple. This wasn’t a one-off incident. The same wallet was involved in a similar transaction earlier in the week, transferring 50 million XRP tokens to the identical recipient address. That recipient wallet is also making strategic big movements, moving around 19.9 million XRP tokens to another Ripple wallet besides sending smaller chunks to Bitso and Bitstamp crypto exchanges.

 

The Timing of XRP Whale Movement Holds the Key

Crypto community is abuzz with speculations about the timing of whale’s movements. Many questioned the background action behind these moves while many speculated about something big to follow the whale activity. Is Ripple about to make a major announcement? Are these tokens being made available for sale? Will this whale activity lead to the XRP price fluctuations?

 

And that’s not all! Another XRP whale deposited 95 million XRP tokens to Binance on September 5, followed by another player moving 105 million XRP tokens to an unrecognized address two days later. Although whale activity isn’t directly proportional to major price swings, the XRP community is rightfully concerned because such large-scale XRP selloff on different crypto exchanges could lead to southward price pressure on the XRP price.

 

Analysts Divided on Future of XRP Price

While Ripple whales are busy moving XRP tokens to different exchanges and crypto enthusiasts, in general, and XRP community, in particular, are raising eyebrows, crypto market analysts are closely monitoring the situation. However, they are not unanimous in their approach and outcomes. While many cite XRP’s recent SEC triumph and whale interest as the possible triggers for the XRP price to scale new highs, many others believe these developments are not as rosy as some paint.

 

 

The legal clarity after XRP’s slight triumph over the SEC cleared the air on the legal front for Ripple. They highlight the recent XRP rally as a sign for the next bull run, claiming user confidence in the XRP token in inflating. Moreover, they also take inspiration from Ripple’s worldwide partnerships and its dominant position on the cross-border payment front to paint a positive picture for crypto community.

 

On the other hand, the cautious analysts are interested more in what meets the eye. They dig deep to concentrate on price fundamentals and market trends to paint a more realistic picture for XRP traders. They argue that while the Ripple’s victory over SEC was significant, the crypto project isn’t out of the woods yet. They suspect the SEC to take the legal matter forward through appeals and additional legal challenges in the court. Similarly, they tone down the XRP whale activity as an element of uncertainty because large-scale selloff is likely to create selling pressure going forward for the seventh-largest cryptocurrency by market capitalization.

 

The Final Word

Irrespective of what crypto enthusiasts and crypto analysts believe, XRP is proving everyone wrong with its recent rise. Its legal victory has contributed largely to the XRP price surge, which was seen trading at $0.5929 at 13:45 pm EST on Thursday, according to the Coinmarketcap data. Amid recent gains, analysts are mostly divided on the future price movements. Some say Ripple price is on its way to hit a new all-time high whereas others think the recent XRP whale activity and overall bearish market sentiments might weigh in to clip XRP’s wings.

 

Overall, XRP believers enjoy gains in the wake of recent gains but they must keep their eyes open for any factor that might send XRP price southward. One thing is certain amid all this drama: the world of XRP is never short on excitement. Stay tuned to TheBITJournal for more updates and developments about Ripple’s legal battles, global expansion, and XRP whale movement.

 

Banana Gun Telegram Bot Allegedly Hacked, 563 ETH Stolen

NAIROBI (CoinChapter.com)—Reports are surfacing that wallets connected to Banana Gun, a popular trading bot on Telegram, may have been compromised. Multiple users are claiming their funds have been drained, and the Banana Gun team has confirmed that they’ve taken the bot offline for investigation.

563 ETH Drained in Ongoing Banana Gun Wallet Exploit

The crypto community has reported the theft of 563 ETH (approximately $1.4 million) from 36 wallets on Ethereum’s mainnet. Yannickcrypto.eth, a prominent community member, flagged the issue on X, warning of the exploit. “There are already 36 victims with almost 563 ETH stolen,” he posted.

Hacked Wallets List. Source: X

Despite the large amount stolen, some users believe the bot itself may not be compromised. The relatively small number of affected wallets suggests the possibility of a targeted attack rather than a full-scale breach of Banana Gun’s platform. In response, the team took the bot offline and is actively investigating the issue.

While the team has acknowledged the problem, they have yet to release an official statement detailing the full extent of the situation.

SOL Network Users Also at Risk?

Unconfirmed reports suggest that wallets connected to Banana Gun on the Solana (SOL) network could also be at risk. Although the exact threat remains unclear, users’ growing concern has led to increased caution and fund withdrawals.

Growth in Banana Gun bot usage over time. Source: Dune

According to Dune Analytics, the Banana bot has processed over $6 billion in trading volume across nearly 272,000 users. The platform, however, has faced issues in the past.

Last year, the platform experienced a problematic launch of its revenue-sharing Banana token. A bug in the smart contract caused delays, raising concerns about the platform’s security and stability. Despite these setbacks, Banana Gun remains a prominent tool in the Telegram-based trading ecosystem.

As the investigation continues, users remain on high alert, with many opting to withdraw their funds as a precaution.

The post Banana Gun Telegram Bot Allegedly Hacked, 563 ETH Stolen appeared first on CoinChapter.

Bitcoin is trending higher at spot rates, floating above $60,000 and confirming gains of September 13. From price action in the daily chart, buyers appear to be back in the picture. The confidence follows the United States Federal Reserve’s (Fed) decision to slash rates by 50 basis points on September 18.

Over $21 Billion Of Shorts To Be Liquidated If Bitcoin Breaks $70,500

While buyers double down, flocking back to BTC, looking at the sharp uptick in trading volume over the past day, one analyst on X has identified an interesting observation if bulls continue to dominate. Citing market data and the liquidation map of Binance perpetuals, the analyst said if Bitcoin flies above $70,500, over $21 billion of shorts will be liquidated.

Liquidation happens in the perpetuals market where leverage traders aim to clip market volatility for profit. There are longs, or traders banking on bulls to press prices higher, and shots, betting for prices to drop.

These positions are leveraged in both instances, meaning they borrow funds from the exchange. The collateral, in this case, the margin, acts as an “insurance” for the exchange. As a result, they will forcefully sell it should the market move against the trader.

Looking at the state of price action in the daily chart, Bitcoin needs to expand by around 11% from spot rates of $70,500 to be hit. The immediate liquidation level is at around $66,000, marking August highs.

If this level is broken, and the leg up is rising trading volume, the resulting rally could easily be the basis for bulls to overcome the intense liquidation pressure of around $70,000 and $72,000.

The $70,000 And $72,000 Resistance Zone Is Crucial For BTC Traders

Bitcoin bulls have struggled to break $72,000 since the retest in June. Accordingly, any firm and decisive close above $70,000 can trigger a short squeeze. Therefore, it is highly likely that BTC may retest $73,800 and even print print fresh all-time highs.

Coinglass data on September 19 shows that over $69 million of leveraged shorts have been liquidated in the last 24 hours. Meanwhile, more than $13 million worth of longs were also forcibly closed due to market volatility.

Over 66,000 crypto traders were liquidated in the past day, and the largest leveraged BTCUSD position worth over $8.9 was closed on Bybit, a perpetuals trading platform, during this period.

Source: NewsBTC.com

The post A Record $21.77 Billion In Bitcoin Shorts Will Be Liquidated Once BTC Breaks $70,500 appeared first on Crypto Breaking News.

The post Bitcoin Reaches $63K as Fed’s Interest Rate Decision Influences On-Chain Metrics: What’s Next for BTC Price? appeared first on Coinpedia Fintech News

Recently, Bitcoin’s value saw a significant increase, hitting $63,000 after the US Federal Reserve’s much-awaited policy shift. On September 18, America’s central bank reduced interest rates for the first time in years, lowering borrowing costs and potentially enhancing investor interest in riskier assets like Bitcoin. As a result, this has pushed crucial on-chain metrics for Bitcoin price, leaving room for a massive recovery in the coming hours.

Bitcoin’s Whale Interest Jumps Amid Short Liquidation

Bitcoin price has seen a surge in short liquidation for over the past few hours as BTC moved above $63K following Fed’s interest rate decision. According to Coinglass data, Bitcoin witnessed a total liquidation of nearly $84 million, out of which sellers liquidated around $71 million worth of positions.

IntoTheBlock reports indicate that nearly 88% of Bitcoin holders are currently in profit, with 12% breaking even. Notably, none of the investors are experiencing losses at present.

Also read: Bitcoin at a Risk ; Alarming High Volatile Zone

Further data from IntoTheBlock reveals that 71% of Bitcoin investors are long-term participants, having joined the ecosystem more than 12 months ago. Another 25% entered within the last year, and just 5% joined in the past 30 days.

Additionally, the recent surge in Bitcoin price has attracted substantial investment from whales. IntoTheBlock states that the number of large transactions surged from the low of 12.5K to 16.5K. This might strengthen the support levels of Bitcoin, creating possibilities of a recovery above $70K this month.

Recently, the supply of Bitcoin held by short-term holders (STHs), those who bought within the last 155 days, dropped significantly. This group and long-term holders (LTHs) make up the main investor types. As STHs hold their coins longer, surpassing 155 days, they become LTHs, showing a shift towards longer-term holding. This trend, with a 15% decrease in STH supply—the biggest since 2012—suggests a positive outlook for Bitcoin’s stability.

What’s Next For BTC Price?

Bitcoin’s recent movements have formed a bullish pattern as buyers successfully pushed the price above immediate resistance channels. Buyers broke the prolonged bearish consolidation around $60K as the BTC price formed a high near the $63.5K mark. As of writing, Bitcoin trades at $63,334, surging over 5.4% in the last 24 hours.

The price has surged above 23.6% Fib level and is holding well above the EMA20 trend line, aiming to meet bullish goals. The current level is crucial for the bulls to hold, as falling below it could lead to the retest of $61K support level.

As the RSI level now hovers around the overbought region at level 71, Bitcoin price might soon trigger a minor correction.

If the price continues to hold above back from the 20-day EMA, it could set the stage for a push above $65,000. Such a move might initiate a recovery toward $68,000 and potentially extend to $70,000. 

Solana’s native crypto SOL increased over 9.45%, rising from $127 to $139.

Solana has introduced its upcoming smartphone, the ‘Seeker,’ set to launch in 2025, featuring upgraded hardware.

Today, Solana’s native token, SOL, displayed a significant price increase of over 9.45%, climbing from a low of $127 to a high of $139. This rally comes amid an exciting announcement from Solana Mobile, a subsidiary of Solana Labs, regarding the upcoming launch of their second crypto-focused smartphone, the ‘Seeker.’ 

Solana Mobile unveils its second #crypto smartphone, "Solana Seeker," after surpassing 140K presales across 57 countries. #Solana's new phone, expected to ship by mid-2025—gained traction following #memecoin airdrops that briefly covered its cost. pic.twitter.com/5adX74qsX5

— TheNewsCrypto (@The_NewsCrypto) September 19, 2024

The new Solana-based mobile is set for release in 2025, with new upgrades in hardware, including an enhanced display, improved battery life, and better camera capabilities. The Seeker mobile has already grabbed considerable interest with over 140,000 presales across 57 countries.

As users increasingly look for ways to access and utilize their digital assets seamlessly, the introduction of hardware like the Seeker could play a crucial role in cryptocurrency adoption. Further, analysts suggest that the combination of a solid product launch and the growing acceptance of cryptocurrencies could lead to sustained growth for SOL in the coming months. 

Current Market Overview and Technical Analysis of SOL

At the time of writing, SOL traded at $139.28, with a market cap of about $64.97 billion. Additionally, the daily trading volume has surged by over 63%, reaching $2.95 billion, indicating heightened investor activity.

According to the Solana price actions, the Chaikin Money Flow (CMF) stands at 0.18. This reflects strong buying interest and suggests that buyers are dominating the market. This positive momentum is further supported by the MACD, which shows a value of 0.63. This value indicating strong buying activity as it remains above the signal line of -0.34.

Solana (SOL) Price Chart (Source: TradingView )

Further, the cryptocurrency price is above the 9-day and 21-day MA. This indicates a strong upward trend, suggesting continued bullish momentum for the token.

While analyzing the SOL/USD 4-hour chart, the altcoin is facing local resistance at $145. This is a level it must get over to maintain an upward trajectory. Given the encouraging technical signals, a breakthrough above this resistance appears likely to lead SOL toward targets of $157 and the key level of $170.

However, SOL previously ranged between $183 and $150, but it is currently consolidating below the $150 mark. 

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Binance CEO Pledges to Secure Release of Tigran Gambaryan

The post XRP News: Ripple’s Secret Plan to Dominate $11 Trillion Remittance Market appeared first on Coinpedia Fintech News

XRP’s price could skyrocket to $5 if Ripple captures 50% of the global remittance market, a scenario now within sight. The XRP price action shows a bullish continuation pattern, indicating a potential 40% breakout in the near term. A combination of favorable factors, including the upcoming SEC appeal deadline and the recent 50 basis point rate cut, further strengthens the bullish outlook.

XRP’s flat performance and the $1 target seem far off, but don’t count it out yet—key moves could spark a new all-time high! Read on. 

SEC Appeal Looms – A Key Moment for XRP

As of now, only 17 days remain before the SEC’s October 6 deadline to appeal the Ripple lawsuit settlement. Should the SEC choose not to appeal, it could pave the way for a significant price rally, with XRP potentially reaching as high as $5. This comes after Ripple was ordered to pay $125 million to the SEC, a sum they have held until the appeal period expires. If no appeal is filed, market confidence in XRP could soar.

Ripple’s Remittance Ambitions Could Send XRP to New Heights

Ripple’s XRP is uniquely designed for cross-border payments, making it a valuable asset in the global remittance market. According to Statista, this market is set to reach $11.53 trillion by 2024, with projections hitting $16.59 trillion by 2028. If Ripple manages to secure even 50% of this market, XRP could see unprecedented gains. With a total supply of 100 billion tokens and only 56.4 billion in circulation, XRP’s price could theoretically reach $283 under ideal conditions if supply remains controlled.

Speculation of XRP as a Reserve Asset

There’s growing speculation that XRP could become a reserve asset, similar to gold’s role for the U.S. dollar. Ripple’s CTO has hinted that XRP’s escrowed tokens could be ‘burned,’ further limiting supply and driving up prices. If such developments unfold, XRP’s potential valuation could rise astronomically, with some estimates pointing to a 48,900% increase from current prices.

Market Outlook – A Rally on the Horizon?

With the SEC appeal window narrowing and Ripple’s growing role in global remittances, XRP is on the brink of a major rally. A non-appeal by the SEC and increasing market confidence in Ripple’s ability to capture significant market share could push the token beyond its current resistance levels, making the $5 mark a realistic target in the coming months. The countdown is on, and traders are bracing for a potential game-changing move.

The cryptocurrency community was recently abuzz after a tweet from Uphold, a major digital currency trading platform. The tweet, which says, “XRP just hit $1,000. What are you tweeting?” sparked immediate discussion across social media, especially within the token’s community.
While the tweet seems speculative, it reflects the enthusiasm of many within the cryptocurrency space, where price predictions and market potential often drive significant debate.
In response, WallStreetBulls, a leading financial blog known for its bold takes on market movements, quickly chimed in. Their tweet read: “Don’t take this lightly—XRP hitting $1,000 is no longer a distant dream! We’re talking months, or even weeks, to see this price become reality. #XRP #CryptoRevolution.” Their optimism about XRP reaching $1,000 was clear, and they called attention to what they see as the inevitability of such a monumental price surge.
Market Cap Realities: Is $1,000 XRP Feasible?
The excitement surrounding XRP comes from the broader movement within cryptocurrency markets, where assets like Bitcoin (BTC) and Ethereum (ETH) have seen massive growth over the past years.
XRP has always been seen as a contender, especially in the realm of financial technology and cross-border payments. Ripple’s partnerships with financial institutions and focus on providing liquidity for transactions have long made the digital asset a staple in discussions of the future of digital finance.
However, despite the enthusiasm, not everyone is convinced that a price of $1,000 is within reach. One of the most notable responses to WallStreetBulls’ tweet came from a user identified as JO.
Their comment read, “So it’s going to go from a $33 BILLION to a $100 TRILLION dollar market cap overnight? 20x the value of Apple and 90x the value of BTC. STOP the gaslighting, PLEASE! Let’s get it to $1, for the love of Pete, or even $5-$6…..”
JO’s reply highlights a significant concern in the crypto world—the feasibility of such astronomical price increases. For XRP to reach $1,000, its market capitalization would have to explode to levels that dwarf even the largest companies and cryptocurrencies in the world.
Currently, the largest market cap belongs to Apple, sitting at 3.30 trillion, while Bitcoin holds a market cap of around $500 billion. The leap from XRP’s current market cap to the $100 trillion figure needed for a $1,000 price tag is daunting.
Factors Impacting XRP Growth Potential
This raises a critical point about cryptocurrency valuations. While it’s possible for a token to experience massive short-term gains, as seen with Bitcoin’s meteoric rise over the last decade, there are underlying factors that make certain price points difficult to achieve.
Market sentiment, institutional investment, technological breakthroughs, and regulatory developments play significant roles in determining the cryptocurrency’s value trajectory.
XRP has certainly benefited from positive sentiment and developments within the blockchain space, but reaching a $100 trillion market cap would likely require not just growth within the crypto sector but a transformation of global financial systems as we know them.

The speculative nature of Uphold’s tweet, followed by WallStreetBulls’ ambitious projection, seems to reflect a growing belief in the transformational potential of cryptocurrencies, especially XRP. However, as JO pointed out, even a more modest target—like seeing XRP reach $1 or $5—could be a significant achievement.

⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

Key Takeaways:

Bitcoin gained bullish momentum after the Fed surprised with a 0.50% rate cut.

BTC/USD cleared a connecting bearish trend line with resistance at $60,800 on the daily chart.

The price still faced many hurdles near $63,500, $65,000, and $68,000.

Bitcoin price is showing positive signs above $60,000. BTC might climb higher, but it faces an uphill task near $65,000 and $68,000.

Bitcoin Price Upside Could Soon Fade

In the past few days, Bitcoin price saw a decent upward move above the $58,000 resistance zone. Recently, it struggled to settle above the $60,000 resistance zone. However, yesterday’s rate cut of 50 bps by the Fed sparked an upside break.

Federal Open Market Committee statement: https://t.co/WdWoB5Wf7M #FOMC

— Federal Reserve (@federalreserve) September 18, 2024

BTC cleared a connecting bearish trend line with resistance at $60,800 on the daily chart. The price surpassed the 61.8% Fib retracement level of the downward wave from the $65,200 swing high to the $52,756 low.

Bitcoin price daily chart | Source: BTC/USD on TradingView.com

Bitcoin price is now showing positive signs above the $60,000 pivot level and the 50-day simple moving average (blue). Immediate resistance on the upside sits near the $62,250 level. It is close to the 76.4% Fib retracement level of the downward wave from the $65,200 swing high to the $52,756 low.

The first major resistance is seen near the $65,000 swing high. To continue higher, BTC price must settle above the $65,200 resistance zone. In the stated case, the bulls might target a test of the main hurdle at $68,000.

There is also a crucial declining channel with resistance near $68,200 on the same chart. It coincides with the 1.236 Fib extension level of the downward wave from the $65,200 swing high to the $52,756 low. A close above the channel resistance could spark a fresh rally and sustained upward move.

BTC Faces Many Hurdles

Conversely, Bitcoin price might struggle near $62,250 or $65,200 and start another decline. Immediate support on the downside is near the $60,500 level. The first major support is near the $60,000 level.  

A downside break below the $60,000 support zone could spark more bearish moves. In the stated case, the price might decline toward the 50-day simple moving average (blue) at $59,200. Any more losses could open the doors for a move toward the $55,500 support zone.

Overall, Bitcoin is showing positive signs above $60,000. Having said that, BTC could face heavy resistance near the $65,000 level in the coming days if it reaches there.

The post Bitcoin (BTC) Price Flashes Bullish Signs After Fed Cut, But Has A Long Climb Ahead appeared first on CoinChapter.

Ethereum creator Vitalik Buterin, known for his reserved and awkward nature, unexpectedly gave his speech at Singapore 2049 in the form of a concert, where he sang about the latest updates and his vision for the ecosystem.

But as fun as it was, Vitalik actually dropped some vital information. He focused on the impact of Ethereum’s Layer-2 networks, specifically Optimism and Arbitrum, while crypto enthusiasts sat captivated. 

“Fees are lower, transaction speed is faster”

Vitalik emphasized that transaction fees, once a major barrier to adoption, are now essentially zero on Layer-2 networks, down from $10 to $0.50 per transaction. He pointed out that Ethereum’s gas fees had once reached as high as $200 during network congestion, a problem that Layer-2 solutions are now fixing. 

These networks have made Ethereum more scalable and affordable. Vitalik even recalled paying over $800 in gas fees for a single privacy-preserving transaction in the past. This, of course, is no longer a reality with the advancements of these Layer-2 networks. 

Beyond just lower fees, Ethereum’s transaction confirmation times have improved significantly after transitioning to a proof-of-stake network in September 2022, after the Merge. Vitalik explained how the waiting time for transaction confirmations has been cut in half, with transactions now being confirmed in as little as 5 to 15 seconds.

“We need to satisfy the needs of mainstream adoption and hold on to open-source and decentralization values,” Vitalik said.

He urged the crypto community to remain practical without sacrificing the industry’s core principles.

Ethereum’s struggle continues

Vitalik also touched on the ongoing competition between Ethereum and Bitcoin, with Bitcoin’s dominance currently at 58%.

While Bitcoin remains relatively stable, Ethereum has stayed under $2,500 for months. Ether has seen net negative outflows of $581 million since launch. Data shows that Grayscale accounted for $2.7 billion of those outflows. 

Then there is also the matter of the dip in Ethereum’s decentralized application (DApp) activity, which is now at a -19% weekly. Meanwhile, competing blockchains like Solana and BNB Chain saw increases by 24% and 23%, respectively.

ETH’s price also hit a key technical level, struggling to push past the 20-day EMA at $2,397 on September 17. 

Bulls tried but failed to break through. If the current support level gives way, Ether could tumble further, possibly hitting $2,111 or even $2,000. 

But if bulls can push the price above the 50-day SMA at $2,553, Ether could rally up to $2,850, and eventually, possibly $3,000.

Check out Vitalik’s performance below:

https://www.cryptopolitan.com/wp-content/uploads/2024/09/DWNBIjeFGl68jJJR.mp4

The Federal Reserve is repeating a critical error that dates back to 1929. In an effort to control inflation, the Fed has maintained a restrictive stance on interest rates for far too long. This delay in adjusting rates has led to concerns that the U.S. economy may face severe consequences, much like in 2008 and even as far back as the Great Depression.
A Brief Historical Context
Over the past 12 months, the Fed has held steady on interest rates, mirroring a similar pattern seen before the 2008 Financial Crisis. At that time, Fed Chair Ben Bernanke admitted that not cutting rates earlier contributed to the economic downturn. The Fed kept short-term interest rates above the economy’s neutral rate — the rate at which economic activity neither accelerates nor decelerates — signaling tight monetary policy. This restrictive environment persisted until the recession officially began in December 2007.
But this wasn’t the first time the Fed had made such a mistake. In the late 1920s, it held rates too high for too long, inadvertently contributing to the Great Depression. It wasn’t until after the financial collapse that the Fed acknowledged it should have cut rates sooner to stimulate economic activity.
Echoes of 1929 and 2008 in Today’s Economy
Fast forward to today, and the situation appears eerily similar. For the past two years, the Fed funds rate has remained above the neutral rate, maintaining a tight monetary policy. While this was necessary during the inflationary surges of 2022 and 2023, recent data shows that inflation is now stabilizing. However, the Fed continues to hold a restrictive stance, elevating the risk of another policy mistake.
At the recent Jackson Hole meeting, Fed Chair Jerome Powell indicated that rate cuts could begin as early as this month. But even with these cuts, the Fed won’t reach non-restrictive levels until April 2025. With several economic indicators already showing signs of deterioration, this delayed response may prove to be costly.
Warning Signs in the Labor Market
The U.S. labor market, a key indicator of economic health, is starting to flash warning signs:
🔷 Layoffs are increasing: Businesses have begun to lay off workers in anticipation of economic slowdown.
🔷 Hiring has slowed: Job creation has reached its lowest level since 2020, raising concerns about future growth.
🔷 Wage growth is stagnating: Employees are seeing fewer pay raises as businesses cut back on expenses.
With both employment and inflation data suggesting that the Fed should ease its policies sooner rather than later, the continued delay raises concerns about the sustainability of the current economic trajectory.
The Stock Market's Disconnect
Despite these economic warning signs, the stock market has continued to rise. However, history teaches us that the stock market isn’t always a rational predictor of the future. For example:
🔷 The 1920s stock boom: In the years leading up to the Great Depression, stocks soared, even as the economy weakened.
🔷 The 2008 crisis: Stocks plummeted as the financial crisis took hold, only to rebound once the recession ended.
Today’s market behavior could be following a similar pattern. Absent a major economic shock, the stock market could remain irrational for a few more months. But once the reality of the economic situation sets in, a downturn may be inevitable.
Navigating Uncertainty
At Game of Trades, we are guiding our members through this unpredictable economic environment. While there are still opportunities to profit from the current market upswing, we are also preparing for the downside when the recession finally hits. We remain on the lookout for attractive long and short opportunities, enabling our members to navigate the markets, no matter what comes next.
The Fed's delayed response to cutting interest rates could have long-lasting consequences, and as history has shown, these policy mistakes often come at a great cost. Whether or not the Fed will act in time to avoid another major economic downturn remains to be seen.

Arthur Hayes, co-founder of BitMEX and Chief Investment Officer of Maelstrom, stated that a Bitcoin and Ethereum crypto market crash could occur following the Federal Reserve’s anticipated rate cut. Speaking at the Token2049 conference, Hayes explained that risk assets, including cryptocurrencies, may experience significant drops just days after the Fed rate cut. This marks the first cut since 2020 and is expected to begin a liquidity easing cycle, which, historically, has supported Bitcoin (BTC).

2025 Market Crash Forecast by Arthur Hayes. Source: @0xDepressionn

However, Hayes warned that the cut would likely fuel inflation and boost the value of the Japanese yen (JPY), causing widespread market instability.

“The rate cut is a bad idea because inflation is still an issue in the U.S.,”

Hayes explained. He added that cheaper borrowing would worsen inflation pressures.

The narrowing interest rate gap between the U.S. and Japan, Hayes noted, could lead to yen appreciation and disrupt yen carry trades. This could trigger a sell-off in Bitcoin and Ethereum.

Yen Strength Could Repeat August’s Market Decline

Hayes referred to the market turbulence caused by the yen’s strength in August, when the Bank of Japan raised interest rates. This caused Bitcoin to fall from $64,000 to $50,000 within a week. Hayes expects similar volatility as the US lowers rates.

Analysts predict further rate hikes in Japan, while the Fed moves in the opposite direction, further strengthening the yen. This could lead to a broader sell-off in risk assets financed by yen-denominated loans, including cryptocurrencies like Bitcoin and Ethereum.

Hayes emphasized that the initial reaction to the Fed’s rate cuts would likely be negative. He anticipates further cuts to manage the fallout, which could push U.S. rates toward zero.

Risk of Bitcoin and Ethereum Market Crash, But Some Areas Could Benefit From Low Rates

Despite the potential for a Bitcoin and Ethereum crypto market crash, Hayes pointed out that some areas of the market could benefit from the expected low-rate environment. Investors might seek yield-bearing opportunities, such as Ethereum (ETH) staking. This offers an annualized yield of 4%.

Hayes also mentioned Ethena’s USDe and Pendle’s BTC staking as products that could gain attention. Ethena’s USDe uses Bitcoin and Ethereum to generate yield, while Pendle’s BTC staking offers a floating yield of 45%. These products might attract more investors looking for higher returns as interest rates fall.

However, Hayes noted that demand for tokenized treasuries, which are sensitive to interest rates, could weaken in a low-rate environment.

Arthur Hayes Speaking at Token 2049 Singapore. Source X Hayes on the Future of Central Banks

During the discussion, Hayes referred to Russel Napier, a market strategist who believes central banks are becoming irrelevant. Napier has suggested that governments are taking control of the money supply to reduce debt-to-GDP ratios.

Hayes agreed with this assessment, stating,

“The era of central banks is over. Politicians will take over and direct liquidity into specific sectors of the economy.”

He also pointed out that capital controls could become more common. This would make crypto a crucial asset due to its global portability.

This shift in control, Hayes noted, could have a lasting impact on the global financial system, with Bitcoin and Ethereum remaining key assets.

The post Fed Rate Cut Could Trigger Bitcoin and Ethereum Market Crash, Warns Arthur Hayes appeared first on CoinChapter.

📰 The US Federal Reserve has cut its benchmark interest rate by 50 bps for the first time since 2020, from 5.5% to 5%.

When the Fed cuts interest rates, it can affect Bitcoin and other cryptocurrencies in several ways:

1. Increase in demand for risky assets:

When interest rates fall, traditional investments such as bank deposits or bonds yield less income. Investors begin to look for better options, and some may turn to cryptocurrencies such as Bitcoin. This could lead to increased demand for Bitcoin and, as a result, an increase in its price.

2. The dollar is weakening:

A decrease in interest rates could weaken the dollar as foreign investors may choose to invest in other currencies or assets. If the dollar loses value, Bitcoin may be perceived as a way to preserve wealth, especially if it is considered "digital gold." This could also encourage people to buy Bitcoin, which increases its price.

3. Inflation expectations:

A rate cut could accelerate inflation, and in times of inflationary pressure, Bitcoin is sometimes seen as a "safe haven asset" because its supply is limited. People may start investing in Bitcoin to protect their savings from depreciation of national currencies, which could increase demand for the cryptocurrency.

4. Increase in liquidity:

When money becomes cheaper, more free funds appear on the market. These funds can be directed not only to traditional assets, but also to cryptocurrencies. This creates an additional flow of money into the Bitcoin market, which contributes to its growth.

5. High volatility:

While a rate cut could create a favorable environment for Bitcoin to rise, cryptocurrencies remain highly volatile assets. This means that even with an influx of new investment, Bitcoin's price can fluctuate wildly depending on market sentiment and external factors.

Thus, a rate cut could push investors towards Bitcoin as an alternative asset, especially if the dollar weakens or inflationary expectations begin.

However, it is important to remember that Bitcoin is always associated with risks due to its high volatility.

📌 When the Fed lowers interest rates, money becomes cheaper for everyone and what often happens is:

Straightaway:

1. Borrowing is getting cheaper: People and companies are taking out more loans for homes, cars and businesses.
2. The economy is reviving: Increased spending by people accelerates economic growth.
3. Stocks are growing: Investors see growth potential in some companies (stocks) and invest in them. It is important to understand that not all of them are growing!

Later:

1. Inflation: More spending means higher prices for goods.
2. Business grows: Companies grow, creating new jobs.
3. The dollar is weakening: Fewer investors are investing in the dollar.

Long term:

1. Risks of overheating: Cheap money can lead to excessive debt.
2. Economic growth: If everything is balanced, the economy continues to grow.
3. The national debt is simplified: It is easier for the state to manage debt with low rates.

Lowering the rate is a boost to the economy, but it is important not to overdo it to avoid inflation and financial problems.
#OMC #Token2049 #BinanceLaunchpoolHMSTR #USRetailSalesRise #DOGSONBINANCE

Tonight at 8:00 PM Italian time, the US Fed will make a crucial decision for the fate of the crypto market, expressing itself regarding the interest rate cut.

With a decrease in yield for bondholders, investors might return to considering riskier bets, supporting the growth of speculative assets.

This reasoning is not, however, so obvious, given that historically a rate cut by the Fed has led to a temporary drop in prices.

In the meantime Arthur Hayes, well-known founder of Bitmex, predicts the fall of central banks in favor of a change in the management of monetary policies.

Let’s delve into the topic below.

The Fed prepares for the first interest rate cut in the USA: a strong impact on the crypto market is coming

As mentioned, tonight’s Federal Reserve (Fed) meeting, which is preparing for an interest rate cut, will have a decisive impact on the future of the crypto market.

At 8:00 PM, the Federal entity will have to decide whether to implement a reduction of 25 or 50 percentage points on its government bonds, thereby reducing economic stimuli on money more or less aggressively.

According to the projections of the CME group, experts estimate a 61% chance of a sharp cut down to 475-500 basis points. Conversely, a softer landing at 500-525 basis points is estimated at 39%.

It is practically certain, therefore, that there will be a cut in premiums in the bond sector, but we do not yet know with certainty of what magnitude.

Source: https://www.cmegroup.com/markets/interest-rates/cme-Fedwatch-tool.html

Normally, the choice of a monetary policy of “allentamento quantitativo” (quantitative easing), which tends to increase the money in circulation through debt, favors the crypto markets.

The Fed injects liquidity into speculative markets, taking away part of the yield from bondholders in a framework of stability and control of inflation.

Lower rates are associated with the search for yield on more speculative products, such as those typical of the crypto and stock sectors.

Investors would therefore theoretically be discouraged from parking their money in American Treasuries, in favor of other more remunerative options.

This translates into a rise in the prices of Bitcoin and the main US stock indices.

Obviously, these discussions must be contextualized with macro data such as the stability of the country, the sovereignty of the currency, and the labor market.

In any case, it is undeniable that tonight’s decision by the Fed will have repercussions on the future of the crypto market for the coming months.

If from here a liquidity training cycle begins without particular surprises, we can consider the event as a good omen for the return to the bull market.

The historical impact of the Fed’s rate cut on financial markets

Tonight will be the first rate cut by the Fed since March 2020, when the central bank lowered yields by 100 basis points in the midst of the Covid pandemic.

On that occasion, the crypto market recorded one of the most violent crashes in history, with BTC dropping by 38.9% in the same month.

Going back in time, we can observe how historically a Fed rate cut is typically associated with an instantaneous price bear.

Taking as an example the S&P500, after the rate cut in September 2007, the market faced a significant crash.

In that case, a reduction of 50 basis points triggered the beginning of a bear phase for the index, which within a year lost half of its value

Same outcome in January 2021, when the Fed lowered rates by 100 points leading to a bear market.

It is important to understand that the more quantitative easing occurs with a marked maneuver, the more the markets react poorly. 

This is because the stock market perceives the fact as the inability of the central bank to maintain a stable situation.

Attention therefore because the crypto market tonight could take a hit if Jerome Powell makes a strong decision.

We emphasize, however, how liquidity slowdowns, although historically triggering an initial drop in prices, ultimately end up favoring a bullish scenario.

Let’s take as an example the golden period from April 2009 to October 2025, when rates remained close to zero on the target of 0.15%.

In those years the S&P500 increased by 150% rising from 800 to 2000 dollars without particular graphical setbacks.

The hope is therefore that the monetary framework in USA will once again favor risk-on sectors such as crypto, with few opportunities on the bond front.

At the same time, the process by which we move towards a similar outlook must be as soft as possible, avoiding short-term imbalances that translate into red candles.

Today is likely the most important date of the year for Bitcoin and the entire crypto market.

Arthur Hayes and the end of the era of central banks: the future of crypto

As the Fed prepares for the rate cut, Arthur Hayes expresses his concerns about the short-term effect on crypto market prices.

The Chief Investment Officer of Maelstrom and co-founder of BitMEX recently gave an interesting interview in which he addresses the impact of the macroeconomic event.

According to Hayes, the prices of speculative securities will face an instant crash, with inflation returning to reign supreme, implying further interventions from above.

Here are his exact words during the Token2049 conference in Singapore:

“The rate cut is a bad idea because inflation is still a problem in the United States, with the government contributing more to sticky price pressures. If you make borrowing cheaper, it adds to inflation”.

Furthermore, the billionaire investor believes that the Fed’s rate cut will weaken the dollar, leading it to a new bear against the Japanese yen.

In fact, the Japanese central bank (BOJ) is going through an opposite phase in which it is moving towards an increase in rates.

The USD/JPY chart could therefore register another plunge after losing about 12.5% in 3 months.  Let’s expect a drop in the Forex index to 135 points in the event of a significant rate cut. Again, Hayes’ words on the subject:

“The second reason is that the interest rate differential between the United States and Japan narrows with rate cuts. This could lead to a strong appreciation in the yen and trigger the unwinding of yen carry trades”.

Monthly chart of the Dollar price against the Japanese Yen (USD/JPY)

A similar scenario, according to Hayes, would determine the crisis of central banks and the end of their era of dominance over the fate of the markets. The Fed will no longer have such a strong impact on the prices of stocks and crypto, having now lost control of the money supply.

Their monetary policies are starting to become irrelevant, as argues the Scottish market strategist Russel Napier.

It is likely that in a short time we will find ourselves with rates close to zero in the United States from the current 525-550, but perhaps it will not have as bullish an influence as hoped.

In any case, Hayes argues that the crypto market awaits a bright future, where digital assets become the only solution to escape the rotten system of global debt.

Kraken’s idea on the Fed’s rate cut

Even the cryptocurrency exchange Kraken has commented on the much-anticipated decision by the Fed regarding the rate cut.

Kraken confirms that the policy that will be adopted from now on will have a significant effect on the price action of the crypto market in the short term.

According to the hypotheses of Thomas Perfumo, Head of Strategy of the exchange platform, today’s price trend will be slightly volatile until the Fed speaks.

Everyone is waiting to find out which path will be adopted, while the odds are in favor of an aggressive cut of 50 points.

Here is what the cryptographic expert reported:

“It is no secret that the monetary policy of central banks is the most significant catalyst for today’s macro-financial markets. If you combine the enormous impact of monetary policy with the increasing general correlation between crypto assets and risky assets in recent months, you get the ideal conditions for price movements across all markets. In the short term, all eyes are on the decision of the US Fed on interest rates. Markets remain cautious until we have clarity on how deeply they will decide to cut rates, with current expectations leaning towards a 50 basis point cut.”

The #FED will officially end its policy of keeping interest rates high for 2.5 years this evening. It is almost certain that the institution will make a cut of at least 25 basis points and cut interest rates for the first time in 4.5 years. The Fed's expected interest rate decisions are in full swing this time. For the first time since 2009, the markets are so indecisive about what a Fed decision will be... until last week it was 25, but... Until Friday of last week, the markets were certain that the Fed would make a 25 basis point cut.
However, on Friday, the 50 basis point cut suddenly started to increase significantly. The 50 basis point cut rate is currently around 63% in the CME Fed Watch Tool, which searches the prices of futures contracts. This rate had fallen to 17% last week. There is no reason behind the increase in the 50 basis point cut.
“When there is uncertainty, you have to hurry” Tom Simons, an analyst at New York-based investment center Jefferies, said in his latest assessment, “It looks like you are implementing a monetary policy of restraint, but it doesn’t seem to be working as the Fed wants it to. I think that will be the case with quantitative easing. There is uncertainty. And when there is a payment, you usually have to hurry.”
Former Fed branch member: 50 points is more accurate Robert Kaplan, former head of the Fed’s Dallas branch, also stated in an interview that the Fed is following up late: “There are many people like me who think the Fed could not pass and that a reduction should come that will prevent the economy from falling. Of course, some will want the Fed to proceed carefully, but 50 basis points would be a better result…” Headline inflation has fallen, but the core is still high, as the Fed has been keeping interest rates between 5.25% and 5.50% since July. This move by the Fed has worked recently, and inflation has fallen rapidly to 2.5%. Core inflation is still above 3% and at 3.2%. The current interest rates are the Fed's last 23 years of interest rates and have been a period in which it has been followed at a high level in the long term.
The "dot-plot" will also be updated On the other hand, the "dot-plot" graph that the Fed appears 8 times a year in March, June, September and December will also be updated for the first time since June with this meeting.
In these "dot-graphs" in June, Fed members had only predicted one interest rate cut this year. The character of this figure is being considered as definite.
#US #binance #USRetailSalesRise #OMC

Before the HMSTR token hits TON next week, Hamster Kombat will take a snapshot to determine airdrop allocations. Here’s when.
Hamster Kombat, the largest Telegram tap-to-earn crypto game in terms of player base, announced Tuesday through its mini app that the first season of in-game rewards will end on September 20 ahead of next week’s token launch and airdrop.

According to the in-game screen, “Season 1 ends on September 20” and that players’ achievements up to that point “will be converted into HMSTR tokens.” Hamster Kombat then encourages players to “hurry up to level up” before the cutoff. The team previously shared which in-game criteria will be used to determine token allocations.

In a Telegram community post shared Tuesday, the Hamster Kombat team said that it will take a “snapshot” of players’ in-game earnings and status at 6pm UTC on September 20. However, as previously confirmed, a second in-game season of rewards is planned for after the airdrop.

📸 SMILE FOR THE CAMERA 📸

⏳ Season 1 of the game is coming to an end. And that’s why we’re taking a snapshot on September 20, at 6 pm UTC.

👉 BUT this is NOT the end! This is the beginning of something even bigger!

*A snapshot is a static copy (a representation of the state…

Hamster Kombat will launch its HMSTR token on The Open Network (TON) on September 26 and offer an airdrop claim to players. The game has previously claimed to have more than 300 million total players to date, with Telegram app data showing 94 million active players over the last month. That makes it the most-played Telegram game by far.

While the Hamster Kombat token launch is widely anticipated by crypto gamers, it’s also seen as potentially problematic for TON itself. TON saw two periods of downtime in late August due to another token claim for a smaller project, prompting concerns that the size of the Hamster Kombat drop could again take down the network.

In fact, TON Core developers admitted last week in a Telegram post that the launch of HMSTR a well as Catizen’s CATI token launching on September 20 could lead to “more technical pressures and possibly some unforeseen issues” amid high-profile token drops.

Binance Button Game is back and offers players the opportunity to win 5 BNB.
The activity period is between September 18, 00:00 (UTC) and September 27, 12:59 (UTC). During all this time, you can join the Binance Button Game and become the first one to count down to 00:00 for a chance to win 5 BNB.
🔸 How to Participate in the Binance Button Game
You have to follow these steps to participate in the activity:
Log in to your Binance account. If you don’t have one, you can register here.You must complete the account verification via KYC to be able to participate.Visit the activity landing page, and click Register to begin.

After you click the Register button, once the total number of participants reaches 10,000, the activity will begin.

Click the button to start the countdown. The timer runs until a click from another user interrupts it.Each click resets the countdown to 60:00.To win the grand prize, you have to click the button and have the timer reach 00:00 without interruption.
🔸 How to Get More Attempts
The game’s button will become clickable when users still have attempts remaining. Each click uses up one attempt.
If the button is disabled, users can complete the daily tasks below to earn more clicks.
Tasks that can be completed every 24 hours:
Refer 1 friend to get an additional attempt (up to 3 daily attempts).Log in to your Binance account daily to get 1 additional attempt. If you don’t have an account, you can create one by registering here.Share the game with friends on social media to get 1 additional attempt.Deposit at least $100 to get 2 additional attempts.
Tasks that can be completed every 12 hours:
Deposit at least $300 in total on Spot to get 2 additional attempts.Trade at least $500 in total in Futures to get 2 additional attempts.Trade at least $200 in total on Convert to get 2 additional attempts.
🔸 How to Get a Higher Ranking
Binance will track all eligible participants’ performance. The closer someone is to 00:00, the higher the player ranking will become.
If by September 27 when the activity ends, no user manages to count down to 00:00, the user or users with the highest ranking will be eligible to win the grand prize. The highest ranking in this case means counting down closest to 00:00.
If there is more than one user with the highest ranking, the prize will be equally split between all eligible winners.
🔸 Additional Notes
Here are some of the key notes that you will have to consider when deciding to participate in Binance Button Game:
Eligibility – Users who complete the KYC process and are from regions that qualify with Binance’s requirements can take part in the activity; also to be able to join the game and get rewards, users have to share a qualified post on a public social media account.Rewards Distribution – Players can get rewards via token vouchers two weeks after the activity is completed, and winners can redeem the prizes by heading over to Profile – Rewards Hub.
Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in the following activities:
Wash tradingIllegally bulk account registrationsRisk accountsSelf-dealingMarket manipulation
#BNB #Binance

As the crypto community awaits the Federal Reserve’s (Fed) rate cut announcement on September 18, the stakes are high for Bitcoin (BTC) and the broader financial landscape. This upcoming decision marks the first central bank rate cut since the Fed slashed its key rate to near zero in March 2020 amid the COVID-19 pandemic. 

Will A 50bps Cut Spark A Bitcoin Bull Run?

According to CME Group’s FedWatch tool, markets are currently pricing in a 59% chance of a half-percentage-point rate cut and a 41% chance of a quarter-point cut. There’s an overwhelming expectation that by the end of 2024, the Fed could implement up to 100 basis points in cuts, with nearly 60% odds of 125 basis points. 

This suggests that investors anticipate at least one or two substantial rate cuts in the three remaining Fed meetings of the year, starting with this week’s announcement.

The potential effects of a 50 basis point cut remain hotly debated within the crypto industry. Market expert Crypto Rover argues that such a cut could reignite a bull run for Bitcoin, stating that the conditions could lead to “super bullish” prospects. 

Similarly, analyst Lark Davis recalls how Bitcoin previously surged following past rate cuts, predicting that if history repeats, the next 6-12 months could see significant price increases for the largest cryptocurrency on the market.

Optimism Vs Historical Caution In Crypto Market

In addition to optimism and bullish expectations, other analysts express caution. EmperorBTC predicts an initial market pump following the rate cut, driven by cheaper borrowing costs. 

However, the analyst warns of profit-taking by short-term holders leading to a subsequent market dump, suggesting a “sell the news” scenario that could leave many investors disillusioned before the market stabilizes and resumes growth.

On the other hand, technical analyst Justin Bennett offers a more cautionary historical perspective. He points to the market’s performance during the Fed’s rate cuts in 2007, when the Nasdaq 100 Index retraced significantly after the initial cuts, suggesting that the same pattern could emerge in 2023. 

Bennett’s analysis suggests that current market conditions may mirror previous downturns, calling into question the optimistic projections shared by some for the broader digital asset market.

In a similar vein, NewsBTC reported on Monday the analysis of crypto strategist Doctor Profit, in which he highlights a divided sentiment in the market regarding the rate cut, with equal chances of a 0.25% or 0.50% reduction. 

However, the analyst is leaning towards the larger cut, arguing that failure to take decisive action could lead to turmoil reminiscent of “Blood Monday” on August 5, when Bitcoin experienced a sharp decline to $48,900.

Despite the divided sentiment in the market, Bitcoin has jumped from the $57,000 mark traded on Monday to a current price of $61,000, recording a surge of nearly 6% in a matter of hours in anticipation of tomorrow’s announcements.

Featured image from DALL-E, chart from TradingView.com 

Source: NewsBTC.com

The post Massive Bitcoin Rally Predicted For Next 6 Months After Fed Rate Cut appeared first on Crypto Breaking News.

Binance has launched Moonbix, its first Play-to-Earn (P2E) game, available on Telegram’s Mini App. The game integrates cryptocurrency rewards with space-themed gameplay, offering players new earning opportunities in the expanding blockchain gaming sector.

Moonbix Offers Crypto Rewards Through Space Gameplay

Moonbix immerses players in a space adventure, letting them control a spaceship with a claw-like manipulator to collect items such as yellow stones and gifts scattered across galaxies. These items hold in-game value, and as players gather them, they advance up the leaderboard. Top-performing players earn crypto rewards based on their success.

Binance Moonbix tap to capture the P2E game. Source: Telegram

Additionally, players can engage in quick drop games like Blum, where each play session allows users to earn points and boost their leaderboard ranking. Rewards, issued in the form of in-game tokens, can be used within Moonbix.

To claim these rewards, users must complete Binance’s KYC process and link their Binance accounts.

Binance Sets Strict Rules for Moonbix Participation

Participation in Moonbix is governed by Binance’s specific terms and conditions for prize promotions and the standard Binance terms of use and privacy policy. Binance has reserved the right to disqualify users if they engage in dishonest behavior, such as market manipulation or bulk account registrations.

Binance Telegram Mini App Terms and Conditions. Source: Binance

Furthermore, Binance holds the discretion to amend the terms of the activity, including canceling or suspending it without prior notice.

Early Access and Future Prospects

Although Binance hasn’t made an official announcement, early access links for Moonbix have already surfaced, generating excitement. A user on X named Damx confirmed that Moonbix is from Binance, further sharing a link to the company’s website with terms for its Telegram Mini Apps.

Damx Clarifies Moonbix’s Association with Binance Terms. Source: X

Although Binance’s support page confirmed its authenticity, it’s wise to wait until they make the official announcement before linking your Binance account. Binance plans to announce soon, but it’s safer to proceed with caution in the meantime.

The post Binance Launches Space-Themed Play-to-Earn Game ‘Moonbix’ appeared first on CoinChapter.

Bitcoin (BTC) has been on a wild ride recently, with prices jumping past $61,000. But with the Federal Reserve (FED) about to make a big decision on interest rates, the crypto world is holding its breath. Here’s a breakdown of what’s happening, and how BlackRock’s Bitcoin ETF inflows fit into the picture.

Bitcoin Breaks $61K but Faces Skepticism

Bitcoin surged past $61,000 recently, marking its highest point in three weeks. This spike has excited some crypto enthusiasts, but the derivatives markets tell a different story. Despite the rally, there’s still skepticism in the market. Traders in BTC derivatives seem hesitant, and some are expecting a fallback to the $58,000 range. Sentiment remains cautious, especially with the FED’s upcoming decision on interest rates.

Many investors are keeping a close eye on how the FED’s decision will impact the broader financial markets. The expected rate cut could either fuel the crypto rally or cap it. Right now, traders aren’t too confident that BTC will hold its ground above $61,000.

The FED’s Role in Bitcoin’s Next Move

The Federal Reserve’s upcoming meeting has everyone on edge. Investors are divided on whether the FED will cut interest rates by 25 or 50 basis points. Either way, this decision could have a big impact on BTC and other cryptocurrencies. The crypto rally could gain momentum if the FED announces a larger rate cut, making assets like Bitcoin more attractive.

However, some analysts warn that bigger cuts could signal a looming recession. Historically, large rate cuts have triggered panic in markets. So, while a rate cut might seem good news for Bitcoin, it could also spark fear and volatility. The next few days will be critical.

BlackRock’s Bitcoin ETF Inflow Signals Confidence

Amid all this uncertainty, BlackRock’s Bitcoin ETF has seen a positive shift. After a 13-day streak of flat or negative inflows, BlackRock’s iShares Bitcoin Trust pulled in $15.8 million. This might not seem like much, but it’s a sign that institutional investors are showing renewed interest in Bitcoin.

This inflow marks a possible turning point, as many Bitcoin ETFs had been bleeding money due to market uncertainty. If more institutional investors jump back in, it could help stabilize Bitcoin’s price and support future gains. BlackRock’s move is a promising sign, especially with more eyes on Bitcoin as a long-term investment.

Will Bitcoin Hold the Line After the FED’s Decision?

As the FED decision looms, Bitcoin’s future is uncertain. While it has surged past $61,000, many sell orders between $61,000 and $62,500 suggest the rally might face a cap. Binance order books show there’s still heavy resistance at these price levels.

Many traders are positioning themselves for the FED event, and the market’s reaction will be telling. If the FED opts for a significant rate cut, Bitcoin could experience another burst. But with the derivatives market remaining cautious, it’s hard to say whether BTC will stay above $61,000 or slip back.

A Crypto Rally or More Volatility?

The next few days are crucial for Bitcoin and the wider crypto market. With the FED’s decision approaching and BlackRock’s Bitcoin ETF inflow suggesting a shift in sentiment, the stage is set for potential moves. However, the question remains: Will Bitcoin’s rally hold or will it face another dip? Crypto enthusiasts are optimistic, but with so many factors in play, anything can happen.

Bitcoin’s ride is far from over. Stay tuned, because the next chapter in this crypto rally could be just around the corner.

XRP has continued to trade within a narrow range since dropping from its peak of $3.84 in early 2018. Despite maintaining a stable and growing market capitalization—currently ranked seventh with a valuation of $33.2 billion—XRP has exhibited minimal price fluctuations.

This lackluster performance can be attributed to the XRP community largely adopting a risk-off stance, reflected in the modest 15% price increase over the past year, as investors await the resolve of the high-stakes legal battle with the SEC.

Despite some investors growing disillusioned with the extended stagnation, others remain hopeful. Some have introduced intriguing theories proposing extraordinarily high valuations for XRP.

Popular analyst Levi Rietveld presented one such analysis on Sep 16.  In a video on X, the pundit suggested that if XRP were to become the cornerstone of a new global financial system, its market capitalization could potentially skyrocket into the quadrillions of dollars, significantly elevating XRP value to a fair market value of $38,999.

Rietveld’s forecast considers the total global debt to be approximately $350 trillion, and the derivatives market to be valued at around $750 trillion. He posited that under such a scenario, where XRP plays a central role in financial transactions and broader financial infrastructure, its price could theoretically surge to his suggested price.

Notably, this prediction becomes even more intriguing when considering the broader ambition of major institutions which are exploring the tokenization of real-world assets.

“Black rock and all of the other largest institutions in the world are wanting to start the tokenization of all real-world assets. They don’t just want to replace a current debt system but they want to move everything over to this new system…we want that to be the XRPL…and if that is the case for the XRPL, this is the type of price you can expect for every single XRP coin” he noted.

Rietveld also emphasized the importance of liquidity in realizing this potential value. He noted that achieving such high valuations would require substantial liquidity, which he believes will be facilitated by Ripple’s upcoming IPO.

“The IPO from Ripple is what’s going to make or break this crazy XRP price,” Rietveld added. He also emphasized the need for regulatory clarity and significant institutional investment to drive XRP’s price to these new heights.

Other analysts have offered varying projections for XRP. Recently financial analysts from Vahil Capital referenced a different model predicting a fair market value of $12,000 for XRP. This estimate, derived from the 99-Year Golden Eagle model, considers XRP’s role as a medium of exchange and assumes significant long-term adoption and market share.

“Adoption of XRP as a store of value is the pathway to that high valuation. That path begins with the adoption for transactions and exchanges of value,” the analysts stated.

At press time, XRP was trading at $0.589, reflecting a 1.21% surge over the past 24 hours.