â The economy is overall strong. â The labor market continues to cool, which is a noticeable improvement from earlier this year. â Our decision today reflects growing confidence that stability in the labour market can be maintained. â Consumer spending remains stable. â Inflation has fallen significantly, but remains above our target level. â The labor market is not a source of increased inflationary pressure. â We expect stable GDP growth. â The risks of rising inflation have decreased. âïž The risks of deterioration in the situation with the labor market (employment) have increased . â Our forecasts are not a plan or a solution. â We will adjust the Fed's monetary policy as needed. â If the situation on the labour market worsens, we will be able to respond. âïž We can cut rates faster or slower, or take a pause if appropriate (it all depends on the economy.) â Most Fed chairs supported today's 50bp cut, but there was a lot of debate. â Today's interest rate decision is a good start for the Fed to begin easing monetary policy. â I don't think we're behind schedule. â The labor market is stable, we intend to maintain this. â A 50 bp rate cut is NOT an attempt to catch up or a change in the pace of Fed easing. â We want to keep the US economy strong. â Retail sales and GDP for Q2 point to sustainable economic growth - this will also support the labor market. â The Fed was very patient, other global central banks started to lower rates earlier. â There is no need for further cooling of the labor market to reduce inflation to 2%. â We are not yet declaring victory over inflation. â Inflation in the housing market is one of the factors that slows down the process a little. â We could well have cut the rate in July if we had had employment data at that time
đ What happened in Crypto in the last 12h? đ
âą Federal Reserve cuts interest rates by 50bps for the first time in 4 years.
âą $BTC - After the Fed's big cut and Powell's positive comments, Bitcoin broke above 62K.
âą $ZETA $ALEO - Coinbase announces the listing of $ZETA and $ALEO. $ALEO has begun trading and $ZETA is scheduled to trade at 9AM PT on Sept 19th.
âą Binance Labs announced the investment in #hemi_xyz. Hemi is a modular protocol for superior scaling, security, and interoperability, powered by Bitcoin and Ethereum.
âą $LINA - Linear Finance has teased a big announcement of a new game-changing product.
âą $TIA - Celestia announced that the Lemongrass update is now live. Lemongrass introduces 1-click interactions over IBC, interchain accounts, and more.
âą $MKR - Users supplying $USDS on the Sky protocol can earn additional #ChronicleLabs points through the Sky Token Rewards feature. Point holders can later claim tokens at the rate of 1$CLE per 10 points
âą $OM - MANTRA Chain announced the launch of its mainnet in October.
âą $XAI $ATH - Aethir and Xai launch a $10M ecosystem grant program to support AI-Powered gaming projects.
Bitcoin has broken out of its descending triangle pattern with strong volume. It is currently holding above the 100MA, which is acting as a key support level, while the 200MA remains a resistance barrier.
A successful retest of the breakout would provide further confirmation for a bullish trend. Keep a close watch for any price action at these critical levels.
đïž BlackRock: Bitcoin is no longer a pure risk asset đïž Fans buy tickets just to hear Vitalik Buterin sing out his plan for crypto over the next deca đïž Louisiana Officially Accepts Cryptocurrency Payments, Gets First U.S. Cryptocurrency Payment đïž JPMorgan boss Jamie Dimon says his bank is the biggest blockchain user even though he hates Bitcoin
Data for #bitcoin in halving years indicate that the low is in fact in and that the "Yen carry" low from August the 5th is the floor for this long bull flag since March 2024!
Data also indicate that the average return in a halving year is about 240% â
We entered 2024 at about $42,000, which means that we will exit 2024 comfortably above $100,000! â
The laws of math don't lie - It would look something like this below!
AVAX is consolidating within a symmetrical triangle pattern, facing rejection from both the resistance trendline and the 200MA, which is serving as a barrier above the triangle. A clear breakout or breakdown is needed to confirm the next directional move.
Bitcoin is attempting to break out of its descending triangle pattern, currently encountering resistance at both the 100MA and the triangle's descending trendline. The Ichimoku Cloud is providing support beneath the current price action.
A breakout from this pattern would offer strong bullish confirmation. However, if the breakout fails, further consolidation within the triangle remains a possibility.
Good morning everyone. Big day today for the entire Crypto Space. We will witness later cutting of rates most likely with 25 but this probably is the beginning of the next official Bull Cycle. đ„đ„
Bitcoin is currently consolidating within a descending broadening wedge pattern, facing rejection at both the 50MA and the Ichimoku Cloud, which are acting as strong resistance barriers. This suggests a potential downward movement in the near term.
However, if Bitcoin successfully breaks above the 50MA and the Ichimoku Cloud, it could signal a bullish reversal, with a breakout of the wedge pattern likely leading to a sustained upward trend.