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📰 GoMarket #27: Bitcoin is UP, Trump’s Crypto Burgers

What's happening in crypto? Every week, our regular guest expert Mike Ermolaev covers the latest trends and news shaping the market.

📈 Bitcoin Surges Following Fed's Rate Cut

On Wednesday, the Federal Reserve announced its first rate cut since 2020, lowering the base interest rate by 50 basis points (from 5.25-5.5% to 4.75-5%). This immediately triggered a BTC rally (current price—$63,450)

💼 BlackRock: Bitcoin as a “Unique Diversifier”

According to the world’s largest asset manager, Bitcoin stands out as a “unique diversifier” that moves independently of traditional risk and return drivers.

Over the last decade, Bitcoin outperformed all major asset classes in 7 out of 10 years, boasting an annualized return of over 100%.

📉 Institutional Confidence Grows as CME Short Positions Drop 75%

Institutional confidence in Bitcoin is also reflected by the fact that aggressive short positions on CME futures have dropped by 75% over the last five months, according to CryptoQuant CEO Ki Young Ju.

🔗 Vitalik Buterin Highlights Ethereum's Progress with Layer 2 Rollups

Vitalik Buterin emphasized the progress in Layer 2 rollups, which have drastically reduced transaction fees on the Ethereum blockchain. These fees, which used to range from $10 to $0.50, are now “under $0.01, basically zero,” Buterin stressed.

🌐 Louisiana to Accept Crypto for State Services

Louisiana has become one of the first U.S. states to accept cryptocurrency for state services. Residents can now use Bitcoin (via the Lightning Network) and USDC to pay for public services.

🍔 Trump Buys Burgers with Bitcoin

Donald Trump conducted his first-ever public Bitcoin transaction by buying burgers for his supporters at Pubkey, a Bitcoin-themed bar in New York City’s West Village. Using the Lightning Network-powered Strike app, Trump spent $998.70 for several dozen burgers, marking his personal step toward Bitcoin adoption. “Bitcoin is really happening,” Trump said.

🔎Above is a condensed version of the report. Get the full version here.

#GoMarketWeekly

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6.77K viewsedited  Sep 20, 2024 at 16:28

📰 GoMarket #27: Bitcoin is UP, Trump’s Crypto Burgers

What's happening in crypto? Every week, our regular guest expert Mike Ermolaev covers the latest trends and news shaping the market.

📈 Bitcoin Surges Following Fed's Rate Cut

On Wednesday, the Federal Reserve announced its first rate cut since 2020, lowering the base interest rate by 50 basis points (from 5.25-5.5% to 4.75-5%). This immediately triggered a BTC rally (current price—$63,450)

💼 BlackRock: Bitcoin as a “Unique Diversifier”

According to the world’s largest asset manager, Bitcoin stands out as a “unique diversifier” that moves independently of traditional risk and return drivers.

Over the last decade, Bitcoin outperformed all major asset classes in 7 out of 10 years, boasting an annualized return of over 100%.

📉 Institutional Confidence Grows as CME Short Positions Drop 75%

Institutional confidence in Bitcoin is also reflected by the fact that aggressive short positions on CME futures have dropped by 75% over the last five months, according to CryptoQuant CEO Ki Young Ju.

🔗 Vitalik Buterin Highlights Ethereum's Progress with Layer 2 Rollups

Vitalik Buterin emphasized the progress in Layer 2 rollups, which have drastically reduced transaction fees on the Ethereum blockchain. These fees, which used to range from $10 to $0.50, are now “under $0.01, basically zero,” Buterin stressed.

🌐 Louisiana to Accept Crypto for State Services

Louisiana has become one of the first U.S. states to accept cryptocurrency for state services. Residents can now use Bitcoin (via the Lightning Network) and USDC to pay for public services.

🍔 Trump Buys Burgers with Bitcoin

Donald Trump conducted his first-ever public Bitcoin transaction by buying burgers for his supporters at Pubkey, a Bitcoin-themed bar in New York City’s West Village. Using the Lightning Network-powered Strike app, Trump spent $998.70 for several dozen burgers, marking his personal step toward Bitcoin adoption. “Bitcoin is really happening,” Trump said.

🔎Above is a condensed version of the report. Get the full version here.

#GoMarketWeekly

BY GoMining News