|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
PCE, GDP Data Support Soft Landing Projections – Is The Crypto Bull Market Here?
Sep 27, 2024 at 05:58 am
The latest macroeconomic data spells good news for the US equities and crypto markets. The GDP growth figure for the second quarter came out at 3.0%
The latest macroeconomic data bodes well for the US equities and crypto markets.
The GDP growth figure for the second quarter came out at 3.0%, which is in line with market expectations. Additionally, the Q2 core PCE prices also met expectations.
Moreover, the initial jobless claims and durable goods orders beat expectations, while Q2 consumer spending and continuing jobless claims missed the forecast.
🇺🇸 Morning Economic Data:
*Q2 GDP: In Line
*Q2 Core PCE Prices: In Line
*Q2 Consumer Spending: Miss 🔴
*Jobless Claims: Beat 🟢
*Continuing Jobless Claims: Miss 🔴
*Durable Goods Orders: Beat 🟢
Perhaps Jerome Powell will get his 'Soft-Landing' after all. All eyes are now on Friday’s Personal Consumption Expenditures and NFP data next week. However, all signs point towards the US Federal Reserve achieving its soft landing target.
Soft landing is a targeted slow-down in the economy which cools inflation levels while avoiding an all-out recession. The positive data will allow the Fed to continue with its quantitative easing as planned. For instance, the 30-day Fed Fund futures prices are projecting another 50 basis point rate cut in November and a final 25 bps cut in December, data from CME FedWatch reveals.
This is a decidedly bullish scenario for Bitcoin and crypto prices. Moreover, other major economies – including the EU and China – are cutting rates and adding stimulus, which could provide a further boost to risk assets like meme coins.
The Bitcoin price is on the move and is attempting to breach the $65k resistance. BTC has already flipped its 200-day Simple Moving Average, which is now a key support level to hold.
Ultimately, the bull run starts when BTC clears the $68k resistance, which shouldn’t be a tall task. After all, BlackRock is on a Bitcoin buying spree and has added $289 million worth of BTC to its holdings.
BlackRock is Buying #Bitcoin!
BlackRock(IBIT) has added 4,460 $BTC ($289M) to its holdings in the past 2 days and now holds a total of 362,192.679 $BTC ($22.9B).https://t.co/kqNUqHBiTn pic.twitter.com/k1WIFDaAWu
However, the possibility of a correction cannot be ignored as well. BTC has failed to breach its descending parallel channel. A rejection from $65k could trigger a downside move to sub-$60k levels.
Nevertheless, BlackRock’s BTC accumulation figures suggest that the bull market is on the horizon and a new all-time for Bitcoin isn’t far away. Experts believe that meme coins are some of the best crypto to buy in such a scenario.
Meme coins remain excellent beta bets on Bitcoin, making them some of the best cryptocurrencies to buy before the next bull run. With Bitcoin now showing strength, Shiba Inu, Pepe, Brett and Dogwifhat prices are already soaring.
While Pepe reclaimed its $4 billion market cap today, Brett and Popcat are also pushing towards multi-billion dollar valuations.
However, new meme coins are also in high demand. For instance, investors are already printing millions in profit with Moo Deng, a new meme coin based on a baby Hippo. Data from Arkham Intelligence reveals that an investor turned $800 into $3.5 million.
TRADER TURNS $800 INTO $3.5M
The trader who purchased $800 of MOO DENG 4 hours after launch has doubled again. He is now worth $3.5M, as the Thai baby hippo continues to go viral on X.
He still hasn't sold anything yet.
Will he ever sell?https://t.co/CzTdVqmANA pic.twitter.com/zxlsXPjRId
Investors believe that Pepe Unchained (PEPU) could offer similar returns. After all, PEPU has already raised over $15 million in presale funding, a glimpse of its high upside potential.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
🐸Pepe Unchained L2
🐸Block Explorer
🐸DEX
🐸Bridge
🐸Advanced Analytics
🐸Builder Grants
Pepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
Moreover, it is a utility-driven meme coin, making it an excellent long-term investment. Indeed, the project is looking to create a new meme coin ecosystem, including a Layer-2 chain, DEX, block explorer and developer grants.
As PEPU nears its IEO, analysts believe that it could
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Dogecoin (DOGE) Breaks Through Major Resistance, Could Surge to $0.150 as Whales Influence Grows
- Sep 27, 2024 at 10:20 am
- Dogecoin (DOGE) has broken through a major resistance at $0.111 with over 62k addresses holding above 36 billion DOGE in their wallets.
-
- Chainlink (LINK), Ripple (XRP), and IntelMarkets (INTL) Are the Best Cryptos to Buy Now, Analysts Forecast
- Sep 27, 2024 at 10:20 am
- As the cryptocurrency market continues to grow, investors are looking for the best cryptos to invest in now. Luckily, analysts forecast the prices of Chainlink (LINK), Ripple (XRP), and IntelMarkets (INTL) could surge in the coming weeks.
-
- Qubetics ($TICS) Unites Bitcoin, Ethereum, and Solana to Redefine Blockchain Innovation
- Sep 27, 2024 at 10:15 am
- Blockchain technology has made remarkable advancements; while platforms like Bitcoin, Ethereum, and Solana have made significant strides, they still face critical challenges, especially regarding scalability and security. High fees, slow transactions, and network congestion continue to disturb even the most established names in the blockchain space.
-
- Aptos (APT) Bulls Aim to Convert June Consolidation Into an Uptrend After Weekly Structure Break
- Sep 27, 2024 at 10:15 am
- Aptos [APT] was bullishly poised on the higher timeframes after beating a key local resistance at $7.66. The $5.6 support was defended valiantly
-
- Cardano (ADA) Price Poised to Break Out As On-Chain Metrics Signal a Potential Altseason
- Sep 27, 2024 at 10:15 am
- After last week's interest rate cut, optimism has surged among analysts and investors, with many anticipating strong upward momentum for the altcoin.
-
- Crypto Analyst Kaleo Predicts Bitcoin (BTC) Will Repeat 2023 End-of-the-Year Pattern and Hit Six Figures After US Presidential Election
- Sep 27, 2024 at 10:15 am
- Pseudonymous crypto trader Kaleo tells his 649,500 followers on the social media platform X that Bitcoin may repeat an end-of-the-year pattern from 2023 and print fresh all-time highs (ATHs).
-
- Dogecoin, Catizen, and BlockDAG: Which Coin Will Whales Choose?
- Sep 27, 2024 at 10:15 am
- Dogecoin, one of the best meme coins, is in the spotlight, with its price predictions suggesting it may either break through key resistance or face a potential drop.
-
- Ethereum, Dogecoin, Bitcoin Paint Pivotal Chart Patterns, Market At Crossroads
- Sep 27, 2024 at 10:15 am
- As it looks to break out of its ongoing bearish trend, Ethereum is at a pivotal point on the market. Lately, ETH has surged past a number of notable
-
- South Korea Fines Worldcoin $830,000 for Violating Data Privacy Laws
- Sep 27, 2024 at 10:15 am
- Data privacy cases are in the spotlight in the tech industry, and this time the Worldcoin crypto project stumbled on a big problem in South Korea.