13th Feb 🚔👮🏻 Sam Bankman-Fried former CEO of FTX arrested! What is going on with Stable Coins?? Federal Reserve Board to announce an interest hike
🚨 U.S. U.S. Department of Justice mentioned via Twitter that the Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. Tweet here https://lnkd.in/d6YAE8yd The New York Times also stated that A statement by the government of the Bahamas said Mr Bankman-Fried was arrested after prosecutors in the United States filed criminal charges. Article here https://lnkd.in/dTyRkrhe The criminal charges against Sam Bankman-Fried included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering, said a person with knowledge of the matter. This move may be a bit strange cause yesterday he was willing to testify in front of the committee.
📊 The U.S. Consumer Price Index (CPI) report is to be released today i.e. the 13th and the interest rate hike announcement on the 14th. The price of Bitcoin has slightly pumped & to one month high. Could we see a dump once the interest rate is announced, or will there be a pump?
How much of a hike will we see? 50 bps 🔺 75 bps 🔺
❗Price predictions are 100% right 50% of the time❗
🟠 CoinDesk article states Bitcoin’s dominance rate rose above 41% alongside the price rally, signalling de-risking in the crypto market. Interesting read here https://lnkd.in/d-p4MSut
🔵 Barron’s article swings either ways the article states The Fed’s Rates decision could drive the price of Bitcoin to $18,000 or unleash more selling pressure. https://lnkd.in/dC_nypFi
🔴 Investing.com states Should the interest rate hike by 50 basis points or lower, then the global financial and crypto markets will experience a small to medium relief rally. This could pump the price of Bitcoin & other cryptocurrencies. Article here https://lnkd.in/dRDBinwg
⚡ Glassnode weekly insights discuss “A Quiet Future” The insight states the Bitcoin market has turned very quiet coming into Dec. The short-term realized volatility for BTC is currently at multi-year lows of 22% (1 week), and 28% (2 weeks), making for the lowest volatility regime since Oct 2020.
⚡ CoinShares weekly blog via Medium states the sentiment is steadily improving for Bitcoin as #BTC saw inflows totalling US$17m Info here https://lnkd.in/dgrJRQ6D It’s going to be interesting to see how the market reacts after the Fed hike news
👀 NFT Reddit, Inc. users have minted more than 5 Million NFT Avatars on Polygon Decrypt article states the program is onboarding users into Web3, with more than 4.25 million unique wallets holding the Polygon assets. Great user adoption as the market is currently in turmoil https://lnkd.in/dQTYamwE
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