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Quick Take In a letter sent to SEC Chair Gary Gensler on Wednesday, the two lawmakers pointed to the agency’s January approval of spot bitcoin ETFs, which has so far brought in billions of dollars.
Block will be investing 10% of its gross profit from bitcoin products into bitcoin purchases on a monthly basis.The company reported a top- and bottom-line first-quarter earnings beat.
Aave V4 would be built with a new architecture to minimize disruptions to third-party integrators.
The world’s largest asset manager sees BTC fund outflows for the first time, while the most money left Fidelity’s product
“Shiba Inu appears to be forming a bull flag on the daily chart,” Ali Martinez argued.
Bitcoin has bounced back above the $59,000 mark and ether made a similar brief spike above $3,000 in the past 24 hours.Analysts suggest specific U.S. Federal Reserve and Treasury actions could restrain the dollar’s recent rally, which could be positive for risk assets.
Bitcoin bulls see signs of the worst being over as a BTC price bounce gathers pace toward $60,000.
- 05:21A certain smart money spent 7.84 million US dollars to buy 29.7 million SWARMSPANews reported on January 12th, according to Lookonchain monitoring, four days ago, a savvy investor sold all of his SWARMS for a profit of $8.42 million. In the past 20 hours, this smart investor has spent another $7.84 million to purchase 29.7 million SWARMS at an average price of $0.26 per coin.
- 05:09Foreign Media: The parent company of listed company Whole Foods is considering adopting a Bitcoin reserve strategyThe supermarket chain Whole Foods, listed on NASDAQ, currently accepts Bitcoin payments through third-party applications, allowing customers to purchase groceries with cryptocurrency. Although the company does not currently hold any cryptocurrency in its treasury, it is reported that its parent company is considering this move. (crypto.news)
- 05:05JPMorgan Chase: The strong US economy indicates that the dollar will remain strong this yearJPMorgan predicts that, under the support of a strong U.S. economy expected to outperform other developed countries, the dollar may still maintain its strength throughout the year. According to its recent report, the bank attributes the continued strengthening of the dollar to widening global economic performance gaps. The report points out that it is expected that by 2024, U.S. economic growth will be 2.7%, far higher than other developed economies' forecast of 1.7%. Strong productivity, increased corporate investment and reduced labor shortages have driven this growth, keeping inflation above the Federal Reserve's target of 2%. This could prompt the Fed to delay rate cuts and thus maintain upward momentum for USD. JPMorgan believes that although The Federal Reserve is expected to ease monetary policy due to a robust economy, this year's rate cut might be small. Markets expect The Federal Reserve will slightly cut rates by 44 basis points while European Central Bank will cut rates by 110 basis points and Bank of Japan is predicted to raise interest rates by 47 basis points. The report also pointed out another factor supporting USD: policies proposed by new US government administration which aim at promoting domestic manufacturing industry, raising tariffs and relaxing industry regulations could stimulate business growth and maintain higher interest rates thereby further supporting USD. However JPMorgan warns about challenges facing long-term trend for USD; country’s trade deficit accounting for 4.2% GDP at end-2024 reflects serious dependence on imported goods; despite current strength in USD such structural imbalance could eventually weaken its position.