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The mounting pressure on the current Federal Reserve chair, Jerome Powell, has now become quite grave. The murmurs of Powell’s resignation have started to gain mainstream attention. Powell has long been under pressure to cut Fed rates immediately, an order that Powell has been defying as of late. This pressure has now become palpable, as President Donald Trump has openly criticized Powell, stating his desire to appoint a new Fed chair. This development has gripped the markets with ambiguity, with investors thinking twice before exploring the markets actively. White traditional markets continue to adopt a dubious stance while exploring the market domain. Here’s how Bitcoin may react to this news if Jerome Powell submits his resignation in the near future. Also Read: Top Source Claims Powell Could Resign, Markets Brace for Impact Powell’s Resignation May End Up Impacting Bitcoin: Two Possible Scenarios 1. A Massive Bitcoin Surge Is Underway Source: Watcher Guru The pressure on...

Solana (SOL) has staged an impressive recovery, rallying 6% on March 19 to trade above $134, mirroring gains across the broader cryptocurrency and stock markets. Despite recent volatility, indicators suggest there could be more upside ahead for SOL. The latest rally was fueled by optimism surrounding the US Federal Reserve’s policy decision. As expected, the Fed kept interest rates steady at 4.5%, while the market priced in a softer economic outlook alongside persistent inflation pressures projected for 2025.  This favorable macro environment has reignited appetite for risk assets, benefiting cryptocurrencies like Solana. Picks for you Ultra rare Fed signal warns of massive recession in 2025 6 mins ago Anchorage Digital adds support fo...

Although a vocal group of pro-crypto influencers has blamed a government conspiracy they call “Operation Chokepoint 2.0” for de-banking crypto customers, further research has cast doubt on their claims. Operation Chokepoint 2.0 is the name given to the idea that banks, under the direction of the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC), were deliberately cutting services to crypto-related businesses. The operation allegedly takes its lead from the program launched by the Obama administration that saw banks strong-armed into denying services to a range of undesirable industries, including pornography and payday lenders. This week, however, Yale researcher Steven Kelly and Federal Reserve in-house historian Jonathan Rose published findings that the once-$200 billion Silicon Valley Bank failed not because of government intervention but rather venture capital (VC) and crypto customer...

In what is a massively important metric for the country’s economic standing, US inflation figures have fallen to 2.4% in September 2024. Indeed, the latest US Consumer Price Index (CPI) report shows that inflation is falling even closer in line with the Federal Reserve’s target. The data also shows a second straight month of decline. In August, inflation came in at 2.5% and was key in informing the Fed’s most recent interest rate decision. The promising fall of inflation had led the central bank to cut rates for the first time in four years. BREAKING: US inflation falls to 2.4%, higher than expectations. — Watcher.Guru (@WatcherGuru) October 10, 2024 Also Read: Federal Reserve Could See a Million Jobs Vanish in Downward Revision US Inflation Falls Yet Again, Drops Closer to Fed’s 2% Target The United States economy, like most of the world, has been hard at work fighting off concerns of a hard landing. With inflation proving tricky to defend against, the Fe...

The forex markets are throwing surprises in October , as Malaysia’s local currency, the ringgit, outperformed the US dollar on Monday. The decline in the US dollar comes as traders hold weak sentiments, reassessing their stance on the Fed’s interest rate cuts. An economist noted that forex traders possibly believe the Federal Reserve could take more time to reduce interest rates again . Also Read: BRICS: India Makes Major Announcement On U.S. Dollar Usage Source: Forbes This is adding pressure on the US dollar , strengthening local currencies in the charts this month. The Malaysian ringgit stood at 4.2150/2240 against the US dollar on Monday as the currency marginally traded higher. The DXY index, which tracks the performance of the US dollar, shows the currency dipping into the 102.4 price range. The USD traded a bit higher last month at around 102.75 . Also Read: UAE Slashes VAT on Crypto Transfers – Explore What It Means for You Malaysia’s Ringgit Beats the US Dolla...

Bitcoin surged almost 3% following the release of US inflation data, signaling optimism for a soft landing in the economy and bolstering bets on a Federal Reserve rate cut this month. The latest US Consumer Price Index (CPI) data aligned with economists’ expectations, while core inflation slightly exceeded projections. That left analysts anticipating a 25 basis point rate cut in September rather than a more aggressive 50 basis points reduction. Bitcoin Rebounds From $55K To Reclaim $57K Support In response, Bitcoin surged more than 3.1% in the past 24 hours to trade at $58,283 as of 4.33 a.m. EST, while the broader crypto market saw its market capitalization climb 2.6% to $2.05 trillion. The first higher than expectation for Core CPI in 5 months. Last time it happened, $BTC had a big dip from 70k+ to 60k. Not sure how will it impact the market this time. With this core CPI data, high chance FED will only cut 25bps on Sep 18. Currently FED is fighting the 2 wars:… pi...

The Federal Reserve could be set to see as many as a million US jobs completely vanish in what would be the largest downward revision in 15 years. Indeed, a Bloomberg report notes that job growth through March was far less robust than initially estimated,” preceding the potential revision. The Federal Reserve faces concerns that it is behind the curve in curing interest rates. Currently, they are slated to cut the 23-year high rates at their September meeting. Yet, the revised employment data would be a concerning development. Specifically, questioning the Fed’s approach to this point. JUST IN: Feds face "up to a million" US jobs "vanishing" in potentially the largest downward revision in 15 years, Bloomberg reports. — Watcher.Guru (@WatcherGuru) August 20, 2024 Also Read: Federal Reserve Leaves Interest Rates Unchanged in July 2024 Fed Faces Largest Downward Revision to US Jobs Data in 15 Years Source: Brookings Institute There is no denying the fragility of the c...

Two blockchain networks had previously announced integration with the Fed’s instant payment service, but they were not found on a new list of certified providers. The Federal Reserve’s upcoming instant payment system, FedNow, released its list of certified “early adopters” on June 29. The organizations on the list have been certified as ready to connect with the platform when it launches in late July. No block chain networks are on the list, despite at least two having previously announced that they would connect to the instant payment system. The FedNow service stated that some organizations not on the list may be integrated later, and Metal Blockchain said it still intends to connect with the platform once it gains “the appropriate bank sponsor.” List of organizations certified with the FedNow Service. Source: Federal Reserve Board Services FedNow is an instant payment service in development by the United States Federal Reserve. The Federal Reserve claims that the service will all...