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ELISABETH SPARKLES
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and still up 🚀🔥✅✅✅✅✅✅💵💵💵💵💵💵💯
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🚨 Dogecoin's 11% Drop Leads Losses in Crypto Majors as Bitcoin Sours Festive Mood Dogecoin (DOGE) experienced an 11% drop, leading losses among major cryptocurrencies as Bitcoin (BTC) also declined by 4.2%. This marks the third consecutive day of losses in the crypto market, attributed to overly bullish sentiment and profit-taking following the recent FOMC meeting. Analysts from QCP Capital noted that the market's previous optimism left it vulnerable to sell-offs, particularly after the Federal Reserve signaled fewer rate cuts than expected for 2025. Other cryptocurrencies like Ethereum (ETH) and Solana (SOL) saw declines of up to 9%. The CoinDesk 20 index, which tracks major tokens, fell 5.5%, with significant liquidations in the futures market. Historically, December is seen as a bullish month for Bitcoin, but the recent downturn has raised concerns about market stability.
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🚨 Next U.S. Senate Banking Chair Calls Crypto 'Next Wonder' of World Senator Tim Scott, the incoming chair of the U.S. Senate Banking Committee, expressed strong support for cryptocurrency, calling it the "next wonder of the world" during a recent event. He announced plans to prioritize crypto legislation, emphasizing the need for regulatory frameworks to foster innovation in the sector. Representative French Hill, the next chair of the House Financial Services Committee, anticipates that significant crypto legislation could be passed in 2025, but it will require bipartisan support to succeed in the Senate. Scott intends to create a digital assets subcommittee, marking a shift from the more skeptical approach of his predecessor. Both lawmakers highlighted the Financial Innovation and Technology for the 21st Century Act (FIT21) as a key legislative starting point, and they acknowledged the importance of working with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on regulatory matters. The overall sentiment in Congress is shifting positively towards crypto, with expectations for more comprehensive legislation in the near future.
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#TOTAL2 Powerful altseason in 2020 emerged after formed cup & handle pattern and pinbar above the broken neckline🤔 In 2024 we have similar pattern with pinbar formed this week👨💻 Altseason from tomorrow?👀
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🚨 Bitcoin Soars to Record High Above $106K, Then Retreats as Hawkish Fed Rate Cut Looms Bitcoin ($BTC ) briefly soared to over $106,000, setting a new all-time high, before dipping back to around $104,500 amid concerns about the upcoming U.S. Federal Reserve (Fed) rate cut. The Fed is expected to lower the benchmark borrowing rate by 25 basis points, totaling a 100 basis point easing since September. However, there are worries that the Fed's accompanying commentary may temper expectations for further rate cuts, potentially dampening the bullish effect of the announcement. The Fed will reveal its rate decision, projections, and economic forecasts on December 18, followed by a press conference with Fed Chair Jerome Powell. Analysts predict that the Fed may adjust its projections for future cuts due to a stronger economy and persistent inflation. Despite potential challenges from a "hawkish" cut, seasonal trends are favorable for Bitcoin, and positive regulatory signals from President-elect Trump could mitigate short-term impacts. Additionally, ongoing rate cuts from the Fed and expected easing from China support Bitcoin's bullish outlook. Later this week, markets will also receive the core PCE reading, which may indicate whether recent inflation increases are temporary or signify a broader trend.
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#BTC☀ $BTC
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