Today, as expected, the Fed lowered the rate by 0.25%. After that, Powell began his speech, and here's what he said:
âşPowell stated that despite the shutdown, available data shows: the situation with employment and inflation has hardly changed since September.
âşInflation is still above normal. Before the shutdown, the economy was showing steady growth. The government closure will temporarily reduce activity, but growth will recover, said Powell.
âşThe level of layoffs and hiring remains low. Inflation continues to decline in services.
âşLong-term inflation expectations are close to the target. Higher tariffs are pushing prices for certain goods.
âşPowell says that the December rate cut is "far" from certainty.
âşPowell called the current reduction "risk management" and a step towards neutral policy, as was the case last month, but noted that further steps are in question, leaving the December rate decision open.
âşNevertheless, according to the Fed, quantitative tightening will cease on December 1. This means that it will stop withdrawing liquidity and will start the printing press.
$BTC Today at 20:00 there will be a meeting of the Federal Reserve where they are expected to lower the interest rate by 0.25%, after which we will have a press conference with Jerome Powell, and market movements will depend on his rhetoric. Meanwhile, the U.S. Treasury has bought back $2 trillion of its own debt.
đŁTrump stated that his meeting tomorrow with Chinese President Xi Jinping will be 'excellent'.
đšBitmine bought another 27,316 ETH ($113 million) and now holds 3.34 million ETH ($13.3 billion).
đETF report: On October 28, there was a net inflow of funds observed in both spot BTC ETFs and spot ETH ETFs. $202.4 million went into Bitcoin and $246 million into Ethereum.
đ˝In the last 24 hours, the crypto market liquidated $512 million, of which $355 million was from Long positions and $157 million from Short.
$XRP đ¤The altcoin season index is currently lower than in November 2022.
This indicates that most altcoins are trading near their lows, with interest in altcoins at a minimum.
đHistorically, it is during such periods that the perfect entry point is formed. This may be the very moment to jump on board before a massive rise.
#CryptoIntegration Bitcoin started the new week with a decline to $115 thousand. This, in turn, caused significant liquidations, which have exceeded $270 million in the last 24 hours. Michael Saylor will take advantage of this drop, as he always buys BTC on Mondays.
đ¨President Trump stated that today will be an "important day at the White House." "Never before have so many European leaders been present at the same time."
đImportant events of the week: 1) Meeting between Trump and Zelensky (Washington) â today. 2) FOMC meeting minutes (July meeting) â Wednesday. 3) Initial jobless claims â Thursday. 4) Powell's speech â Friday.
đŞMetaplanet purchased an additional 775 BTC worth $93 million, bringing the total amount on the company's account to 18,888 BTC worth $2.18 billion.
#BullishIPO đ˝The reaction of the crypto market to the results of the negotiations is negative. BTC fell to $117K, ETH below $4500. Liquidations exceeded $400 million.
đToday, Trump purchased 1911 ETH for $8.6 million, as well as WBTC for $10 million. Even the President of the United States is buying the dip.
âď¸The trading volume of Bitcoin and Ethereum ETFs reached $40 billion, which is a record figure for the week, reports Bloomberg.
After a lackluster last week, trading activity surged sharply â over 7 days, the global cryptocurrency market capitalization increased by +6%. And, judging by on-chain data, large players are clearly preparing the ground for growth.
đ¤Ethereum is being bought by whales again. The net inflow of funds from large holders jumped by +270%, which helped ETH break the $4,000 level for the first time since December. If the accumulation trend continues â the next target is $4,500.
đ¤PEPE has also attracted attention. Assets in wallets with a balance of $1 million+ increased by +1.36%. Such movements by whales often encourage retail to buy as well, which could prolong the meme coin's growth.
đ¤Mantle (MNT) became the star of the week with a +52% increase. Large holders (1â10 million tokens) bought 2.39 million MNT and now control 20 million â a monthly high.
đConclusion: whales are clearly not sleeping â and if they continue to accumulate, the market could receive a strong upward impulse.
According to blockchain data, small holders (retail) continue to sell, while large institutional investors quietly accumulate positions.
đThe annual change indicator clearly shows: as the price of Bitcoin rises, the share of retail investors decreases, while the share of large players increases.
đĽIn other words, funds and whales are buying up all the Bitcoin from the general public.
#BTCvsETH Today, Trump Media acquired Bitcoin worth $2 billion for its reserves.
âĄď¸Also today, as per tradition, Mike Saylor purchased 6220 BTC for ~$739.8 million at a price of ~$118,940 per BTC. To date, Saylor's Strategy holds 607,770, purchased for ~$43.61 billion at a price of ~$71,756 per BTC.
đ¸A good start to the week considering that funds are also continuing to buy Bitcoin.
$BTC Trump wrote a big post about the Chairman of the Federal Reserve, Powell: He calls Powell a "dummy" and a "Trump hater" who could save the U.S. $1 trillion a year by lowering rates. Trump concludes by saying that he might change his mind about firing Powell.
âď¸Due to the sharp drop of BTC below $103k, over $580 million has been liquidated in the crypto market in the last 24 hours.
đTRX, DOGE, BTC, NEXO, and DOT dominate cryptocurrency discussions over the past day amid growing activity and hype around the ecosystem.
CPI in Japan accelerated to +3.7%, the highest level since January 2023. This is the sixth consecutive monthly figure above 3%.
đService prices, closely monitored by the Bank of Japan, rose by 1.4% compared to the April figure of +1.3%.
đAs a result, the inflation rate in Japan has been at or above the Bank of Japan's target of 2% for more than 3 years.
âď¸The Bank of Japan will likely have no choice but to raise interest rates in July. Part of the increase was caused by tariffs and premature rate cuts. Despite Trumpâs pressure, Powell understands that in such conditions, a rate cut could cause significant problems.
#CryptoStocks đĄTrump Continues to Be Angry at the Fed
"Too Late" â Jerome Powell is costing our country hundreds of billions of dollars! One of the most foolish and destructive people in power, and the Fed board is silently complicit in this.
While Europe has already cut rates 10 times â we have not had a single cut. We should be at least 2.5 percentage points lower and save billions on Biden's short-term debt.
đĄWe have LOW inflation! TOO LATE â this is a national disgrace
Today Trump wrote: "Iran should have signed the 'deal' that I told them about. What a shame and a waste of human lives. Simply put, IRAN MUST NOT HAVE NUCLEAR WEAPONS. I have said this again and again! Everyone must leave Tehran immediately!".
đĽAttacks continued throughout the night, and explosions were heard in Tehran and over Tel Aviv. Meanwhile, a report in the US states that Washington is offering negotiations with Iran to end the conflict, while Trump left the G7 summit early to deal with events in the Middle East.
đşđ¸The US is predicted to take inevitable military action against Iran. Probability 67%.
BlackRock holds 3% of all Bitcoins, becoming one of the largest institutional holders. Yesterday, BlackRock bought another 2,680 BTC for $282.9 million. Meanwhile, the total inflow into ETFs amounted to $301.7 million.
đŽđˇ Iran has promised to strike against any country that helps protect Israel.
đ¤ Fidelity officially files S-1 for its spot Solana SOL ETF, signaling likely approval in the coming months.
đŞ According to the latest data, $3.3 billion in BTC was transferred to long-term wallets, with 30,784 BTC added in one day as whales accumulate near historical highs.
Trump stated that the agreement is ready pending approval from the leaders â US tariffs on Chinese goods could reach 55%, while China will impose a 10% import tariff on goods from the USA.
đşđ¸The USA agreed to lift a number of export restrictions on rare earth minerals and many other goods.
âď¸But this is not a complete end to the trade war, but rather a temporary truce. The trade deal requires approval from Trump and Xi. Specific details and timelines have not yet been announced. Nevertheless, the market reacted positively.
#TrumpVsMusk Elon Musk Wants to Create His Own Political Party
Elon Musk asked his followers, "Is it time to create a new political party in America" against the backdrop of his dirty public feud with Trump. More than 4 million people have already responded, with 81% voting for the creation of a third, moderate party. Of course, Musk is hinting at the creation of his own party, which he will lead.
âď¸Musk also wrote that Trump's tariffs will cause a recession in the second half of this year. Rumors are circulating that this conflict could lead to Trump's impeachment.
âĄď¸Amid all these scandals, Tesla's stock has fallen more than 12%, and the decline may continue today.
đ˝Meanwhile, BTC has fallen below $104,000, reaching a local minimum of around $100,300, recording a -5% drop. This led to liquidations exceeding $950 million.
đłDue to the drop in BTC, after a threefold liquidation, James Wynn capitulated and closed all his Long positions in BTC. In total, he lost $20.48 million. And how beautifully it all started.
$ETH đşđ¸Trump's Trip to the Middle East Brought the US Investments Worth $2.5 Trillion
President Trump's four-day trip to the Middle East attracted $2.5 trillion in capital for the US.
đŚInvestment report: 1. UAE: $1.4 trillion. 2. Saudi Arabia: $600 billion. 3. Qatar: $500 billion. đThe total value of these investments exceeds the market capitalization of all but three public companies in the world. This is the largest foreign investment commitment ever made by a president in US history.
Yesterday, investors' attention was focused on the CPI in the USA. The data turned out to be below expectations, but this did not provoke strong growth in the crypto market. Now the focus shifts to the PPI data, which will be released on May 15.
đ˘The PPI shows how prices for goods and services change at the producer level. This is one of the key indicators of inflation.
đAnalysts at QCP Capital note that the Fed's hawkish stance continues to shape market participants' expectations. The scenario of interest rate cuts in the first half of 2025 is a positive signal for risky assets.