Donald Trump’s latest Fed pick cited a “third mandate” for the bank to moderate long-term rates, potentially justifying yield curve control policies, which could boost Bitcoin.
There’s division among crypto analysts over how Bitcoin will react to the Fed’s decision on Wednesday, whether or not a rate cut is announced.
Fidelity projects long-term holders and corporate treasuries could lock up over 6 million BTC by 2025, tightening supply and potentially boosting price dynamics.
Fundstrat’s Tom Lee predicts Bitcoin and Ether could surge in the fourth quarter this year on Fed rate cuts and improving liquidity conditions.
Next Technology Holding, China’s largest Bitcoin treasury firm, said it may buy more Bitcoin after filing to sell up to $500 million worth of common stock to fund additional purchases.
Shares in the Bitcoin-buying firm KindlyMD dropped 55% after CEO David Bailey encouraged low-conviction traders to exit.
Strategy’s Michael Saylor and BitMine’s Tom Lee are among 18 industry leaders who will look at ways to pass the BITCOIN Act and enable budget-neutral ways to buy Bitcoin.
Bitcoin’s $113,000 zone emerges as a critical support with new investors absorbing whale supply, hinting at one of the last discounts before new highs.
Bitcoin is facing solid resistance at $117,500, but the possibility of a rally to $124,474 remains high as long as the price remains above the moving averages.
The purchase as part of the company’s accumulation strategy started in 2020 has resulted in Strategy holding more than $73 billion worth of BTC.