News

The crypto market is mostly red, with Bitcoin dropping towards $90,000. Altcoins are suffering larger losses, led by a 10% plunge in Cardano, following a ‘hawkish’ rate cut from the Federal Reserve.

Gemini, the crypto exchange founded by the Winklevoss twins, has received approval from U.S. regulators to offer prediction markets, marking a significant step for the crypto sector.

Terra (LUNA), the token at the center of the 2022 market crash, has unexpectedly surged nearly 180% this week. The price jump appears to be driven by speculation ahead of founder Do Kwon’s sentencing verdict.

Despite a 25-basis-point interest rate cut by the Fed, Bitcoin’s price reaction has been tepid, raising concerns. Technical analysis suggests bearish patterns similar to past FOMC meetings, with potential downside targets for both Bitcoin and Ethereum.

A bear flag pattern on Bitcoin’s chart suggests a potential 25% drop to $67,000. Several analysts support this bearish outlook, citing overbought indicators, negative ETF flows, and low trading volume.

Bitcoin and the broader crypto market are in the red today. Despite positive news from the Federal Reserve about an interest rate cut, the market reacts with uncertainty due to internal disagreements at the Fed and a cautious outlook for the U.S. economy.

The crypto market saw €450 million in liquidations over 24 hours as Bitcoin and Ethereum prices dropped sharply, despite bullish news from the Federal Reserve’s rate cut.

American entrepreneur Vivek Ramaswamy’s firm, Strive, has announced a $500 million ‘at-the-market’ offering to purchase Bitcoin and related products. The move underscores growing institutional interest in Bitcoin as a corporate reserve asset, with Strive already ranking among the top corporate holders.

The US Federal Reserve appears increasingly nervous about underlying weaknesses in the economy, prompting potential rate cuts and T-bill purchases. While this move aims to stabilize the financial system, analysts suggest it’s more about buying time than sparking a new bull run for Bitcoin.

The Federal Reserve’s upcoming interest rate decision is expected to be a 0.25% cut, which could positively impact the crypto market by making borrowing cheaper and saving less attractive.