Bitcoin’s outlook remains bullish despite macro setback: Grayscale
The upcoming US presidential inauguration could be a positive catalyst, the asset manager said. Go to Source
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Crypto sentiment index drops to October levels as Bitcoin dips under $92K
The market sentiment index score hasn’t been in the “Neutral” zone since Oct. 14, when Bitcoin was trading around $63,000. Go to Source
JPMorgan’s Bold Call: Why Carry Trades May Be Facing Their Final Days
A new JPMorgan report warns that carry trades are losing effectiveness as global interest rates decline, urging investors to be more selective with currency risks. The Japanese yen has lost appeal after unexpected rate hikes, while the Swiss franc carries potential bullish risks. JPMorgan suggests rethinking strategies as carry trade returns are expected to diminish … Read more
Bitcoin ‘still the best-performing asset’ after weak Q3: NYDIG
Bitcoin is currently exactly where it was in the last two cycles, said NYDIG’s research head Greg Cipolaro, who said crypto could be in for a big Q4. Go to Source
‘Uptober’ builds strength as Bitcoin held on exchanges falls to 6-year low
Bitcoin held on exchanges fell to a new low while spot Bitcoin ETF inflows resumed pace. Is Uptober back on? Go to Source
$100K Bitcoin price depends on ‘increasing demand’ and ‘favorable seasonality’ — CryptoQuant
History favors Bitcoin’s price prospects for Q4, but CryptoQuant analysts caution that a consistent uptick in demand will be a critical component. Go to Source
UBS Warns of Further US Dollar Decline, Advises Investors to Reduce USD holdings
Financial giant UBS expects the U.S. dollar to continue to depreciate, advising investors to reevaluate their portfolios. The bank predicts a medium-term decline due to shrinking interest rate advantages and a growing fiscal deficit. With the dollar down 5% since June, UBS recommends strategies like currency hedging and diversifying into other currencies and assets like … Read more
Bitcoin drops to $63K, fails to rebound after Fed hints at future interest rate cuts
Bitcoin surprised traders by opening the week in the red, and the Federal Reserve’s announcement about future rate cuts failed to reverse the downtrend. Go to Source
Fed’s dovish move to slash $625M in interest income for stablecoins
CCData estimates stablecoins will lose approximately $625 million in interest income for each 50-basis point cut. Further cuts in 2024 could reduce annual revenue by as much as $1.5 billion. Go to Source
Nigeria’s Central Bank Raises Benchmark Rate by 50 Basis Points
The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures aim to combat inflation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms implemented have restored the bank’s credibility and boosted … Read more
