Bitcoin preps for FOMC comments as BTC price coils near $103K
Bitcoin, the world’s largest cryptocurrency, has been hovering below the $103,000 mark in recent days. However, with the Federal Open Market Committee (FOMC) meeting this week, there is potential for a bullish breakout that could send BTC price to new highs.
The FOMC, which is responsible for setting monetary policy in the United States, is expected to make a statement on Wednesday regarding interest rates and the economy. Many analysts believe that the committee will maintain its dovish stance, meaning they will continue to keep interest rates low and provide economic stimulus.
This dovish sentiment could have a positive impact on Bitcoin, as it is often seen as a hedge against inflation and a store of value in times of economic uncertainty. With the US economy still recovering from the effects of the pandemic, the FOMC’s decision to maintain its accommodative policies could lead to increased demand for Bitcoin.
In addition, recent comments from Federal Reserve Chair Jerome Powell have also been supportive of Bitcoin. Powell stated that cryptocurrencies are “really vehicles for speculation” and not a threat to the stability of the financial system. This acknowledgement from the head of the US central bank further solidifies Bitcoin’s legitimacy and could attract more institutional investors to the market.
Furthermore, Bitcoin’s recent price consolidation could be seen as a bullish sign, as it indicates that the market is taking a breather before potentially making a move higher. Technical indicators also suggest that BTC is in a strong position, with the 50-day moving average crossing above the 200-day moving average, a bullish signal known as a “golden cross.”
Overall, the stage is set for Bitcoin to potentially break out of its current range and reach new highs. With the FOMC meeting and dovish sentiment, along with positive comments from Powell and strong technical indicators, Bitcoin could see a surge in demand and price in the coming days. Keep an eye on the market and be ready for potential opportunities as Bitcoin continues to make its mark as a legitimate and valuable asset.
Roger Ver’s Trump pardon plea: ‘Lawfare’ victim or tax evader?
Bitcoin Cash advocate and early cryptocurrency investor, Roger Ver, has recently made a public plea to President Trump to commute his tax evasion charges. Ver, also known as “Bitcoin Jesus,” has been a vocal supporter of Bitcoin Cash and has been involved in the cryptocurrency community since its early days.
In a recent tweet, Ver shared a photo of himself with President Trump and asked for his help in commuting his tax evasion charges. Ver has been charged with failing to report his income from Bitcoin Cash sales in 2018, which he claims was an honest mistake. He has been sentenced to 10 months in prison and has been ordered to pay over $1 million in fines and restitution.
Ver’s plea to President Trump has sparked a debate within the cryptocurrency community. Some argue that Ver should face the consequences of his actions and that his plea for clemency is unjustified. Others believe that Ver’s contributions to the cryptocurrency industry and his advocacy for Bitcoin Cash should be taken into consideration.
Ver has been a controversial figure in the cryptocurrency world, with some praising him for his early investments and support for Bitcoin Cash, while others criticize him for his involvement in the infamous Bitcoin hard fork in 2017. Despite the controversy surrounding him, Ver remains a prominent figure in the industry and has a large following of supporters.
In his plea to President Trump, Ver emphasized the potential impact of his imprisonment on the cryptocurrency industry, stating that it could discourage others from investing in and using cryptocurrencies. He also highlighted the potential for the US to fall behind in the global cryptocurrency market if its citizens are not allowed to freely participate.
As the cryptocurrency industry continues to grow and gain mainstream attention, cases like Ver’s raise important questions about the regulation and taxation of cryptocurrencies. Whether or not President Trump will consider Ver’s plea for clemency remains to be seen, but it has certainly sparked a conversation about the future of cryptocurrencies and their place in the US economy.
Ondo Finance’s tokenized US Treasury to join XRP Ledger
Ondo, a new decentralized finance (DeFi) platform, is set to revolutionize the way we think about stablecoins. With the launch of its OUSG tokens, Ondo aims to provide a stablecoin that is not only backed by a fiat currency, but also by a digital asset – Ripple’s RLUSD stablecoin.
OUSG tokens will be redeemable using RLUSD, making it the first stablecoin to have a dual backing system. This unique feature sets OUSG apart from other stablecoins in the market, providing users with a more secure and reliable option for their financial transactions.
But what exactly is a stablecoin and why is it important? A stablecoin is a type of cryptocurrency that is pegged to a stable asset, such as a fiat currency or a commodity. This ensures that the value of the stablecoin remains relatively stable, unlike other cryptocurrencies that are known for their volatility. Stablecoins are crucial for the adoption of cryptocurrencies in everyday transactions, as they provide a more stable and predictable value.
Ondo’s OUSG tokens will not only provide stability, but also offer users the benefits of decentralization. By utilizing blockchain technology, OUSG tokens will be accessible to anyone with an internet connection, without the need for intermediaries such as banks or financial institutions. This not only reduces transaction fees, but also promotes financial inclusion and empowers individuals to have more control over their own finances.
In addition, OUSG tokens will also offer users the opportunity to earn passive income through staking. By staking their OUSG tokens, users can earn rewards in the form of RLUSD, providing an additional incentive for holding onto the tokens.
With its innovative dual backing system, OUSG tokens are set to disrupt the stablecoin market and pave the way for a more stable and decentralized financial system. So keep an eye out for Ondo’s launch and be a part of the future of finance.
You should ‘go and build’ your own AI agent: Jesse Pollak, X Hall of Flame
Base creator Jesse Pollak says AI + Crypto is “just getting started” and users can easily build an AI agent to make money: X Hall of Flame
Bitcoin far from 'extreme' FOMO at above $100K BTC price — Research
Bitcoin investors are known for their wild and unpredictable behavior, especially when it comes to the price of BTC. However, recent data suggests that they may not be acting as irrationally as previously thought. According to UTXO data, Bitcoin investors are not exhibiting the typical blow-off top behavior that is often seen during market peaks.
For those unfamiliar with UTXO data, it stands for Unspent Transaction Output and is a way to track the movement of Bitcoin. This data shows that investors are not selling off their BTC holdings in large quantities, which is usually a sign of a market top. Instead, they are holding onto their coins, indicating a strong belief in the long-term potential of Bitcoin.
This behavior is in stark contrast to what was seen during the 2017 bull run, where investors were quick to sell off their BTC at the first sign of a price drop. This led to a sharp and sudden crash in the market, leaving many investors with significant losses. However, the current UTXO data suggests that investors have learned from past mistakes and are taking a more measured approach to their BTC holdings.
This is not to say that Bitcoin is immune to market volatility. In fact, the recent dip in price has caused some panic among investors. But instead of selling off their coins, many are taking advantage of the lower prices to buy more BTC, further strengthening their belief in the cryptocurrency.
So what does this mean for the future of Bitcoin? While it’s impossible to predict with certainty, the UTXO data suggests that investors are in it for the long haul. They see the potential for Bitcoin to continue growing and are willing to weather the ups and downs of the market. This bodes well for the future of BTC and reinforces the idea that it is a valuable asset to hold onto for the long term.
In conclusion, while Bitcoin investors may have a reputation for being impulsive and irrational, the recent UTXO data paints a different picture. It shows that they are taking a more measured and strategic approach to their investments, which could lead to a more stable and sustainable growth for Bitcoin in the long run.
French prosecutors probe Binance over money laundering, fraud allegations: Report
The Paris Public Prosecutor’s Office has recently opened an investigation into the activities of a popular cryptocurrency exchange. According to reports, the probe will cover the period between 2019 and 2024, with the aim of uncovering any potential illegal activities or violations of financial regulations.
This news has sent shockwaves through the cryptocurrency community, as the exchange in question has been a major player in the industry for several years. With a large user base and a significant trading volume, any findings from this investigation could have a major impact on the exchange and the wider market.
The specific details of the investigation have not been disclosed, but it is believed that the Paris Public Prosecutor’s Office is looking into potential money laundering and fraud activities. This is not the first time that the exchange has faced scrutiny, as it has previously been accused of manipulating prices and engaging in other questionable practices.
While the investigation is ongoing, the exchange has assured its users that their funds are safe and that operations will continue as normal. However, this news has raised concerns among investors and traders, who are now questioning the security and legitimacy of the exchange.
This development serves as a reminder of the risks involved in the cryptocurrency market, as it is still largely unregulated and prone to fraudulent activities. It also highlights the need for stricter regulations and oversight to protect investors and maintain the integrity of the market.
As the investigation unfolds, all eyes will be on the Paris Public Prosecutor’s Office and the exchange in question. The outcome of this probe could have far-reaching consequences for the cryptocurrency industry, and it is a crucial reminder for all players to adhere to ethical and legal standards in their operations.
OpenSea faces backlash over ‘OS2’ private beta, airdrop dynamics
The highly anticipated “OS2” private beta for the NFT marketplace has finally been released, but it seems that not all community members are satisfied with its airdrop dynamics. Many users who were able to access the beta have expressed their frustration and disappointment with the way the airdrop system is being handled.
For those unfamiliar, an airdrop is a distribution of free tokens or coins to a specific group of people. In this case, the “OS2” private beta airdrop was meant to reward early adopters and loyal community members with exclusive NFTs. However, it seems that the airdrop process has caused more confusion and frustration than excitement.
Some community members have reported receiving duplicate NFTs, while others have not received any at all. This has led to accusations of unfairness and favoritism, as some users seem to have received a larger number of NFTs than others. Additionally, there have been complaints about the lack of transparency and communication from the marketplace team regarding the airdrop process.
This has caused a rift within the community, with some members feeling left out and others feeling like the airdrop was not properly executed. Many are now questioning the fairness and legitimacy of the airdrop, which was meant to reward and incentivize early adoption and participation in the marketplace.
Despite these issues, the “OS2” private beta has still generated a lot of buzz and excitement within the NFT community. The marketplace promises to offer a unique and user-friendly platform for buying, selling, and trading NFTs, and many are eagerly anticipating its official launch.
It remains to be seen how the marketplace team will address the concerns and frustrations of community members regarding the airdrop. But one thing is for sure, the NFT market is constantly evolving and it will take more than a few hiccups to slow down its growth and potential.
Sonic TVL rises 66% to $253M since rebranding from Fantom
Sonic is making waves in the world of blockchain technology with its claim to be the fastest EVM chain in the world. With a blockchain finality of just 720 milliseconds, Sonic is setting itself apart from other chains and positioning itself as a leader in the industry.
But what exactly does this mean? In simple terms, blockchain finality refers to the time it takes for a transaction to be confirmed and added to the blockchain. The faster the finality, the quicker the transaction is processed and the more efficient the blockchain is.
Sonic’s impressive finality time of 720 milliseconds is made possible by its unique architecture and innovative technology. The team behind Sonic has developed a cutting-edge consensus mechanism that allows for lightning-fast transaction processing without compromising on security and decentralization.
But speed is not the only thing that sets Sonic apart. The platform also boasts low transaction fees, making it an attractive option for businesses and individuals looking to save on costs. Additionally, Sonic is highly scalable, meaning it can handle a large volume of transactions without slowing down or experiencing network congestion.
With its fast finality, low fees, and scalability, Sonic is well-positioned to disrupt the blockchain industry and attract users from all over the world. The platform has already gained significant attention and support from investors and developers, with many seeing its potential to revolutionize the way we think about and use blockchain technology.
So whether you’re a business looking for a more efficient and cost-effective way to process transactions, or a developer seeking a high-performance blockchain platform, Sonic has something to offer. Keep an eye on this promising project as it continues to make waves in the world of blockchain technology.