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Cryptocurrency News Articles
Bitcoin Bucks Seasonal Jinx With One of Its Biggest September Gains
Sep 27, 2024 at 01:17 pm
The token is up over 10% this month, contrasting with an average 5.9% decline in September during the past decade, data compiled by Bloomberg show.
Bitcoin is heading for one of its biggest-ever September gains as a global wave of interest-rate cuts, led by the US Federal Reserve, is helping the world’s largest digital asset to buck a seasonal jinx.
The token is up more than 10% this month, contrasting with an average 5.9% decline in September during the past decade, data compiled by Bloomberg show. An index of smaller coins has climbed more than 20%, a sign of looser financial conditions enlivening riskier segments of the crypto market.
The Fed, the European Central Bank and the People’s Bank of China all lowered borrowing costs in September to support economic growth. Investors responded to more accommodative monetary conditions by bidding up everything from stocks to gold, anticipating further stimulus ahead.
“Bitcoin’s correlation with monetary policy continues to be highest with respect to the Fed,” said Sean McNulty, director of trading at liquidity provider Arbelos Markets. “Other central banks easing certainly helps too.”
The cryptocurrency rose as much as 1.2% on Friday, changing hands at $65,334 as of 1:12 p.m. in Singapore. It’s up 56% in 2024, helped by inflows into US Bitcoin exchange traded-funds, but off the record of $73,798 hit in March.
The $65,000 level may prove “sticky” for a few hours due to the expiry of a large number of options contracts on Friday, said Caroline Mauron, co-founder of Orbit Markets, a provider of liquidity for trading in digital-asset derivatives.
A failure to break above $65,000 “decisively” could presage a weaker period for the token, according to a note from crypto exchange Kraken.
Aside from monetary policy, the digital-asset industry is awaiting the resolution of the US presidential election race. Many executives expect a lift to sentiment from clearer American crypto regulations in the months after the vote.
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- $1 Deposit Online Casinos – Ports of Vegas Casino – 333 Free Spins!
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- Working under jurisdictions with fewer regulations, these online casino platforms can be reached by a global audience, including United States players. But not, the best crypto casinos don’t just focus on providing a diverse game selection. They come up with generous bonuses, beckon with user-friendly interfaces, and guarantee fast cryptocurrency transactions.
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- Spot Bitcoin ETFs See Largest Inflows Since July as Ether Funds Flip Back to Outflows
- Sep 27, 2024 at 05:00 pm
- exchange-traded funds in the U.S. recorded total daily net inflows of $365.57 million on Thursday, the largest since late July. Thursday's inflows extended the positive run to its sixth consecutive day, according to Sosolvalue data.
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- Rollblock (RBLK) Token Presale: A New Challenger to Binance Coin (BNB) and Avalanche (AVAX)?
- Sep 27, 2024 at 04:55 pm
- Buoyed by its impressive features and standing, Rollblock's native token is likely to rival tokens such as Binance Coin (BNB) and Avalanche (AVAX).
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- Cutoshi (CUTO) Presale Steals Limelight as Shiba Inu Goes For Record Token Burning
- Sep 27, 2024 at 04:55 pm
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- Binance (BNB) Coin Signals Return of Bullish Sentiment Despite Regulatory Hurdles
- Sep 27, 2024 at 04:55 pm
- Less than four days to the end of the dreaded September, Binance Coin (BNB) $606.9 24h volatility: 1.9% Market cap: $88.55 B Vol. 24h: $1.22 B has signaled the return of the bullish sentiment.
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- Ghostly Manor: Lagotronics Projects Installs “World’s First Gameplay Theatre” at Paultons Park in the UK
- Sep 27, 2024 at 04:55 pm
- An innovative dark ride has been installed by Lagotronics Projects and partners at Paultons Park in the UK. The company say Ghostly Manor will be the “world’s first gameplay theatre” combining an endless ride system, immersive media scenes, decorational scenes and innovative interactive technology.
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- Proof of Stake: A Comprehensive Guide
- Sep 27, 2024 at 04:55 pm
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- Estee Inu: The Viral Dog Behind the Shiba Inu Token
- Sep 27, 2024 at 04:55 pm
- The viral dog behind the Shiba Inu token called Estee have taken X with storm over the last few days. As we all know Shiba Inu became one of the biggest
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- Theta Labs Introduces EdgeCloud for Mobile, Allowing Users to Contribute Their Phone's GPU Power to the Network and Earn TFUEL Tokens
- Sep 27, 2024 at 04:55 pm
- There are about 3.9 billion active Android devices in the world today. Theta Labs sees this as an opportunity to use all that power to make their decentralized