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The Bitcoin market experienced a major downturn earlier this week attributed to concerns regarding the US economic outlook and increased volatility in the broader financial markets. Notably, Ethereum’s performance lagged, potentially influenced by heightened futures market activity and selling pressure from select large holders. Despite these challenges, asset manager and exchange-traded fund (ETF) issuer Grayscale remains optimistic about the potential for token valuations to rebound if the US economy continues on a trajectory toward a “soft landing.” Even in a…

Market analyst and trader Henrik Zerberg predicts a blow-off top in US markets for cryptocurrency and stock sectors. This prediction comes after the market-wide crash on Monday, which saw over $1 billion in crypto positions liquidated. The crypto industry is recording a shift in sentiment, with Bitcoin up 8%, holding well above $55,000, and dragging altcoins along with it. Blow Off Top To Come In Crypto and Stock Markets Zerberg anticipates new all-time highs (ATHs) in the US stock market…

Polymarket is recording heightened activity as traders display increasing interest in prevailing market conditions. Participants are betting thousands of dollars in a bold attempt to predict the market. While the platform’s impartiality has been questioned, especially regarding showing market sentiment, its role in driving crypto adoption cannot be ignored. Polymarket Traders Bet Big According to Dune Analytics, Polymarket has seen a significant increase in daily volume and active traders as participants try to predict market outcomes. These metrics have been steadily…

The crypto market’s correlation with key macroeconomic events has returned after dissipating for most of 2023. With the influence back on, crypto market participants must brace for volatility with key releases lined up this week. In a sentiment-driven market, getting ahead of market-moving economic data releases is critical for traders and investors looking to revise their trading strategies. What Could Cause Market Volatility This Week Four events will be of interest to crypto market players this week. They include: US…

Senator Cynthia Lummis has introduced the Strategic Bitcoin Reserve bill to the US Congress, marking the start of a legislative process with significant potential impacts on the cryptocurrency market and US economic policy. On August 3, Senator Lummis announced that the Senate Committee on Banking, Housing, and Urban Affairs received the Bitcoin Act of 2024 (S.4912). US Bitcoin Reserve Bill Begins Legislative Process The Congress website shows that the bill was read twice before being assigned to the committee. It…

Former US President and Republican candidate Donald Trump continues to champion Bitcoin as he campaigns for re-election this November. In a recent statement, Trump suggested that Bitcoin could be instrumental in addressing the United States’ substantial national debt. Trump Suggests Using Bitcoin to Pay Off US National Debt In an interview with Fox News’ Maria Bartiromo, Trump implied that Bitcoin could potentially eliminate the US’s $35 trillion foreign debt. He argued that this digital asset, if adopted and supported effectively,…

The post U.S. Inflation Reaccelerates: Core PPI Hits Highest Level Since 2022, What It Meant For Crypto  appeared first on Coinpedia Fintech News Recent data indicates that U.S. inflation might be on the rise again. New figures reveal that the Producer Price Index (PPI) has increased, reaching levels not seen in the past 15 years. As inflation starts to rise again, it could impact various financial markets, including cryptocurrencies. Core PPI Inflation Rises Sharply In June, core Producer Price Index…

The post US Election 2024: Donald Trump and Kamala Harris to Debate This September appeared first on Coinpedia Fintech News In a surprising twist, former President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party…

In a recent interview with Fox News, former President Donald Trump voiced support for using Bitcoin as a tool to help pay down the United States’ $35 trillion national debt as he positions himself for a potential 2024 presidential re-election, while also signaling a notable shift in the Republican party’s stance on digital assets. Trump’s Strategy To Tackle $35 Trillion Debt With Bitcoin “Crypto is a very interesting thing, very high level in certain ways, intellectually very high level,” Trump…