“Gold Continues to be the Star of the Cycle, Jumping to A New Record Above $ 3.050 per OUNCE.”, – WRITE: www.coindesk.com
Bitcoin (BTC) HAS RISEN 4.5% IN THE LAST 24 HOURS AND IS NOW TRADING FOR $ 85,500, ITS Highest Point Since March 9.
The Coindesk 20 – An Index of the Top 20 Cryptocurrencies by Market Capitalization Except for Stablecoins, Memocoins and Exchange Coins – IS Up 6%. ETHER (ETH) and SOLANA (SOL) HAVE BOTH SURGED BY 7%, While Ripple’s Xrp Token Has Risen 10% Off The Back of Ceo Brad GarlingHouse’s It Case Against the Company.
Crypto Stocks Are Also Doing Relative Well, Especialally Bitcoin Mining Companies Like Bitdeer (BTDR) and Core Scientific (Corz), WHICH Are Up 10% and 8%. Bitdeer Is Likely Buoyed from the Technological Progress It Recently Made In Its Asic Manual Reging Process, As Well As From The News that Stablecoin Giant Tanytha Was Increasing It
Core Scientific, Meanwhile, Is Potentilly Reaping the Benefits of AI Firm Coreweave (Core Scientific’s Main Customer) Filing for An Initial Public Offering Earlier in the MONTH. Even SO, Both Companies Are Down More More 61% and 53% Since January and November Respectively.
Federal Reserve Chair Jerome Powell Said that Tariff-Related Inflation Was Likely to Be Transitory and that Recession Risks Remoned Low. And Despite the Market Reacting Positively to the Meeting – Nasdaq, S&P 500 and Dow Jones All Gained 1% OR OR MORE – Market Commentators Weren’t Necessarily ConvinCed.
“The Word-‘transitory’-is back at the Federal Reserve as Chair Powell Characterizes the Price Effects of Tariffs As A One-Off After the Big Policy Mistake of Earlier this Decade and Given All The Current Uncertainties, Some Fed Officials Wound Show Greater Humility. Effects will be transitory. ”
Gold Continued to Rise After Surpassing the $ 3,000 Mark on Tuesday and Today Hit A New Record Above $ 3.050. Callie Cox, Chief Market Strategist at Ritholtz Wealth Management, SAID THAT The US CENTAL Bank Was Signaling that Any Additional Rate Cuts Wuld Likely Happen at the Cost of Battering. “The Fed Is No Longer Comfortable Glring to Neutral As We Get Closer to Their Inflation Target. I THINK YOU CAN ARGUE THAT The Soft Landing Is Over,” She posed.
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