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Cryptocurrency News Articles
Bitcoin Surges to $62K as BlackRock Primes the Crypto Market for a Major Move
Sep 22, 2024 at 06:38 pm
The bitcoin price has climbed to over $62,000 per bitcoin, with traders now turning to a China "shock and awe" earthquake
Bitcoin price suddenly surged higher following the Federal Reserve's first post-pandemic interest rate cut that could send the bitcoin price "skyrocketing."
The bitcoin price climbed to over $62,000 per bitcoin, with traders now turning to a China "shock and awe" earthquake. The Fed surprised traders with a 50 basis point cut, kicking off what's expected to be a fresh liquidity cycle that could put the bitcoin and crypto market on the "cusp" of a major move.
Now, as fears swirl the U.S. dollar is on "the verge of a total collapse," the world's largest asset manager BlackRock has warned of "growing concerns" around the spiraling $35 trillion U.S. debt pile that's predicted to drive "institutional interest in bitcoin."
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Federal Reserve chair Jerome Powell has this week announced the first post-pandemic interest rate ... [+] cut, sending the bitcoin price sharply higher as BlackRock primes the crypto market for a major move.
"The growing concerns in the U.S. and abroad over the state of U.S. federal deficits and debt has increased the appeal of potential alternative reserve assets as a potential hedge against possible future events affecting the U.S. dollar," BlackRock's exchange-traded fund (ETF) chief investment officer, its head of crypto and its head of fixed income global macro wrote in a paper outlining the investment case for bitcoin.
"This is why some have called bitcoin the 2nd amendment of money," Bloomberg Intelligence ETF analyst Eric Balchunas posted to X, adding the U.S. debt pile of $35 trillion that's growing at a clip of $1 trillion every 100 days has "no end in sight."
"This dynamic appears to be also taking hold in other countries where debt accumulation has been significant," the authors of the BlackRock paper added. "In our experience with clients to date, this explains a substantial portion of the recent broadening institutional interest in bitcoin."
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- Mpeppe (MPEPE): A New Contender in the Meme Coin Arena
- Sep 22, 2024 at 10:30 pm
- The meme coin landscape is witnessing a fierce battle for dominance between Pepecoin, Pepe Unchained (PEPU), and the new challenger, Mpeppe (MPEPE).
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- Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Lawsuit Against Coinbase Global, Inc. (COIN)
- Sep 22, 2024 at 10:30 pm
- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Coinbase Global, Inc. ("Coinbase" or "the Company") (NASDAQ: COIN) and certain of its officers.
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- Rexas Finance (RXS) Presale Token of the Year 2024
- Sep 22, 2024 at 10:25 pm
- Rexas Finance (RXS) is the hottest topic in the cryptocurrency world and for good reason; it's a game-changing token
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- RCO Finance (RCOF): The New DeFi Token Primed to Mirror Dogecoin's (DOGE) 22,000% Surge
- Sep 22, 2024 at 10:25 pm
- The crypto market has embarked on a fresh rally, with most altcoins surging significantly. These gains have seen novice investors start searching for high-potential tokens with low prices.
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- Rexas Finance (RXS) Raises Over $1.2M in Presale Stage 2, Cardano Shows Signs of Life Amid Whale Activity, and XRP Faces Resistance at Key Levels
- Sep 22, 2024 at 10:25 pm
- The crypto market is still buzzing as the Fed 50BP rate cut generates significant industry benefits. Here are the top 3 news highlights for the day:
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- dVIN Labs Launches VINCOIN ($VIN) Token and Airdrops 3,000 Bottles of Champagne to Breakpoint Attendees
- Sep 22, 2024 at 10:25 pm
- dVIN Labs, the development team behind dVIN, the protocol to bring the $1 trillion wine industry on-chain, today announced both the launch of the
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- AAVE Price Breaks Resistance, 71% of Holders in Profit
- Sep 22, 2024 at 10:25 pm
- AAVE is currently getting steam to move above the resistance level, which is $153.70, where there has been significant selling pressure.
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- CYBRO Presale Exceeds $2 Million: A One-in-a-Million Next GEN DeFi Investment Opportunity
- Sep 22, 2024 at 10:25 pm
- CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $2 million. This next-generation DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.
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- Tether (USDT) Dominates The Stablecoin Market, Nears $120B Milestone As Crypto Industry Receives Over $1B Inflow
- Sep 22, 2024 at 10:25 pm
- Tether (USDT), the world's largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now