JPMorgan & BTC: The Hate/Love Story Most of us remember that back in 2017, JPMorgan Chase CEO Jamie Dimon called Bitcoin a fraud and even threatened to fire any employee who traded the digital currency. In his own words: “The currency isn’t going to work. You can’t have a business where people can invent a […]
Euro Bearish as ECB Officials Are Set to Reveal New Monetary Policy The US Dollar ended a bullish week, boosted by much better than anticipated Retail Sales data: the Core indicator, which excludes automobile sales from the calculation, posted a 1.3% change while the forecast was 0.4%. The “vanilla” version also showed a reading above […]
Price Action Remains Unaffected Despite the recent lethargy that’s present on Bitcoin charts, the flagship cryptocurrency is making its way deeper and deeper into the mainstream and is viewed more often as a viable form of payment. The latest win for Bitcoin comes from Jackson, Tennessee: Friday, Mayor Scott Conger announced that the city plans […]
Inflation in the Spotlight Last week the EUR/USD retreated from a three-month low at 1.1781 as the US Dollar took a step back due to decreasing FED rate hike prospects, combined with a plunge in Treasury yields which saw lows of 1.25%. The pair is currently trading at 1.1860 after a bounce at a long-term […]
US Dollar Hits Bump in the Road Ahead of Fed Minutes Last week’s U.S. Non-Farm Payrolls report posted better than expected numbers and showed that 850K new jobs were created in June, while the general consensus was 725K. However, the strong reading was overshadowed by an uptick in U.S. unemployment, as the rate rose from […]
VISA Boards the Crypto Train Ethereum’s long-anticipated London hard fork, which will introduce the EIP-1559 upgrade, has been deployed on the Rinkeby testnet. This is the final test environment and the full London upgrade is scheduled at block 12965000, which is estimated to be reached on August 4. According to Ethereum developer Tim Beiko “All […]
Potential Influx of 350 Billion Euro into the Bitcoin Pool. Today a German law approved earlier in April this year is coming into effect and could potentially generate a massive influx of capital into the crypto market. The new law allows institutional funds to allocate up to 20% of their holdings into crypto and considering […]
Range-Bound Trading Ahead The EUR/USD pair settled just a few pips below the technical level at 1.1970, which has rejected climbing prices twice in the last few days. The pair is showing signs of indecision, as price action has slowed down and long-wicked candles have appeared. Last week’s softer than expected U.S. inflation numbers didn’t […]
Salvadorans, Rejoice. Free Bitcoin for All! As most of you probably know by now, a bill was recently passed in El Salvador, giving Bitcoin the status of legal tender in the country. The law will come into effect in September and all businesses will have to accept Bitcoin as a form of payment, alongside the […]
Fed Signals Sooner-Than-Expected Tapering The US Dollar Index (DXY) gave back some gains on Monday and slipped to 92.115 from a 92.405 high reached Friday on the back of a surprise hawkish switch by the Fed. The dollar jumped almost 2.0% last week (which marks the biggest gain since March of 2020), as investors rushed […]