3 solid Bitcoin indicators predicting BTC price rise to $75K in June
A breakout from Bitcoin’s symmetrical triangle pattern is imminent as long-term holders continue to accumulate. Go to Source
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US Treasury Secretary Yellen Warns of Challenges in Controlling Deficits and Interest Expense
U.S. Treasury Secretary Janet Yellen has stressed the importance of managing U.S. borrowing needs amid higher long-term interest rates, emphasizing the need to boost revenue in budget negotiations. “We’ve raised the interest-rate forecast. That does make a difference. It makes it somewhat more challenging to keep deficits and interest expense under control,” Yellen told Bloomberg … Read more
‘Asia’s MicroStrategy’ Metaplanet smashes all other Japanese stocks
Trading in Metaplanet’s stock was halted for two straight days under Tokyo Stock Exchange rules as its shares rocketed over the last week. Go to Source
Goldman Sachs CEO Forecasts No Fed Rate Cuts This Year
David Solomon, CEO of Goldman Sachs, expressed doubts about the Federal Reserve cutting interest rates this year due to the resilient economy, bolstered by government spending and investments in AI infrastructure. Despite these factors, Solomon highlighted the impact of rising prices on consumer behavior, referencing recent reports from McDonald’s and Autozone indicating reduced spending. He … Read more
Nigerian Currency Slides 5% After Central Bank Injects More Than $80 Million Into Forex Market
The Nigerian naira continued with a downward which recently saw it being named the worst-performing currency when it slid by just over five per cent to erase the previous day’s gains. The naira’s depreciation is said to have occurred just a day after the central bank intervened by injecting between $80 million and $100 million. … Read more
China’s $53.3B Divestment in US Treasuries Signals Massive Shift From Dollar Assets
According to records, China has divested $53.3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury Holdings Drop Dramatically, Raising Red Flags for U.S. Markets China has significantly … Read more
Robinhood’s Crypto Revenue Surges 232% Despite Looming SEC Battle
Retail trading platform Robinhood has announced that its crypto revenue grew by 232% in the first quarter. Despite this success, Robinhood faces potential enforcement action by the U.S. Securities and Exchange Commission (SEC), alleging that some of the cryptocurrencies offered on its platform are securities. Crypto Drives Robinhood’s Profitable Q1 Retail trading platform Robinhood Markets … Read more
Jerome Powell’s pivot heralds a boring summer for Bitcoin
The Federal Reserve isn’t sticking with the schedule of interest rate cuts it predicted earlier in the year. That makes navigating the market more challenging. Go to Source
Federal Reserve Holds Rates Steady Amid Inflation Concerns; Outlook Remains ‘Uncertain’
On Wednesday, May 1, 2024, the U.S. Federal Reserve chose to maintain the benchmark interest rates at their highest in 23 years. The Federal Open Market Committee (FOMC) members noted that although inflation has subsided, it still “remains elevated.” No Change in Federal Funds Rate; Fed Continues Watchful Eye on Inflation Risks On Wednesday, the … Read more
Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’
The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured currency” to replace the struggling local currency. The structured currency banknotes will be “fully convertible into the reserve currency on demand.” The central bank has also reduced the annual interest rate from 130% to 20%. Structured Currency Supported by Solid Fundamentals The … Read more