• Wealthcamp
  • Posts
  • Will CPI Data & Impending Fed Rate Cuts in September Send Bitcoin Soaring?

Will CPI Data & Impending Fed Rate Cuts in September Send Bitcoin Soaring?

Positive economic data vs. anti-crypto political appointments

Author

Austin Hodge
August 14, 2024 • Read Time: 10 minutes

Amidst the excitement of looming Fed rate cuts in September and better than expected CPI data released this morning, news from the political arena could put a damper on the case for a crypto rally.

With a potential presidency on the horizon, Vice President Kamala Harris might be gearing up to tighten the screws on the cryptocurrency industry. Recent reports suggest that her choice to consult Brian Deese and Bharat Ramamurti, known for their tough stance on crypto, could signal a continuation of the Biden administration’s rigorous policies.

Industry experts and stakeholders are watching closely, as this decision might escalate regulatory pressures in an already challenging environment for digital assets. Let’s dive in!

  • CPI and Inflation data beat expectations with inflation dropping to 2.9% in July, the lowest since March 2021 - Read More

  • MicroStrategy's Bitcoin purchases since August 2020 have influenced both its stock and BTC prices, revealing a growing correlation. A retrospective on Microstrategy’s BTC Anniversary — Read More

  • Kamala Harris likely to maintain Biden's strict crypto regulations with advisors Deese and Ramamurti. — Read More

  • FBI’s FOIA response raises more questions about Bitcoin creator Satoshi Nakamoto. — Read More

  • Bitget Wallet hits 30M users with a 150% annual growth rate, outpacing MetaMask in July downloads. — Read More

  • Three Arrows Capital liquidators are pursuing a $1.3 billion lawsuit against TerraForm Labs, alleging market manipulation of Luna and TerraUSD. — Read More

  • IOTA Foundation launches a new platform for music intellectual property rights management using DLT, smart contracts, and NFTs. — Read More

Yilport's $1.6B Bet on El Salvador's Bitcoin City

Yilport Holdings' $1.6B port investment aims to kickstart El Salvador's Bitcoin City project.

Over 1 Million Bitcoin Addresses Hold 1 BTC or More

Over a million Bitcoin addresses contain 1 BTC or more, reflecting increased adoption and long-term confidence.

Bitcoin Miner Capitulation Suggests Price Bottom

Despite recent price drops, miner activity signals BTC price bottom, says CryptoQuant.

45% of Bitcoin Supply Dormant for Six Months

Nearly half of Bitcoin's supply hasn't moved in six months, onchain data reveals.

Aurora Unveils Tools to Connect Bitcoin and NEAR

Aurora Labs launches Bitcoin Light Client and Relayer to integrate Bitcoin with NEAR, opening new DeFi prospects.

Coinbase Teases Launch of cbBTC

Coinbase announces the pre-launch of 'cbBTC' to compete with Wrapped Bitcoin and build a Bitcoin economy on its Base network.

DeFi and Ethereum Lead the Way After Crypto Crash

Michaël van de Poppe identifies DeFi and Ethereum as standout performers post-crash.

Base Dominates Ethereum L2 Transactions with Record 12.5 Million

Ethereum L2s hit 12.52 million transactions, Base leads with 3.98 million.

Ethereum Nears $2,700 Amid V-Shaped Recovery Hopes

Ethereum trades above $2,650, eyes potential breakout towards $3,000.

Ethereum Whales Accumulate $100M in ETH

Ethereum whales bought $100M in ETH in two months, signaling potential bullish trend.

DBS Partners with Ant International for Blockchain-Based Treasury Tokens

DBS Bank teams up with Ant International for a blockchain-driven treasury and liquidity management solution, enhancing multicurrency capabilities.

Pump.fun Reports $5.3M Daily Revenue

Pump.fun, a Solana-based token deployer, generated $5.3 million in revenue in 24 hours, outpacing the next 24 highest-earning protocols combined.

Cardano Adoption Stagnates While Active Usage Remains Steady

Cardano sees no new user growth but maintains stable daily activity, according to IntoTheBlock.

Tether Pumps $3M Into Kem App for Middle East Crypto Push

Tether invests $3M in Kem app to drive financial inclusion in the Middle East.

Zeta X Targets Centralized Exchange Performance with Solana L2 DEX

Zeta aims to achieve 10,000 TPS and 3-5ms confirmations on Solana L2, matching centralized exchanges.

Crypto All-Stars Raises $330,000 in 48 Hours

Crypto All-Stars ($STARS) presale hits $330K, offers high APY rewards through innovative staking platform.

Tokenized Real World Assets Boost Broadband Expansion

Blockchain-based tokenized assets could revive U.S. broadband deployment amid traditional funding failures.

Hive Digital Reports 36% Sales Surge, Expands into AI Computing

Hive Digital diversifies with AI computing, boosting sales by 36% to $32M in Q2 2024.

Bittensor's TAO Token Faces Market Volatility

TAO token experienced a 180% surge in Q1 2024 but faces uncertainty as it retests resistance levels and market analysts predict potential short-term declines.

Crypto scammer pleads guilty to AI trading bot scam

Kolin Lukas Deshazo admitted to defrauding individuals with a fake AI trading bot scheme, promising high returns that never existed.

Raiinmaker Co-Founder J.D. Seraphine Talks Blockchain and AI's Potential

J.D. Seraphine discusses harnessing blockchain and AI to empower individuals, focusing on human contribution and innovative tech.

Floki's Valhalla to Feature in EPL Ad Blitz

Floki’s Valhalla MMORPG will headline a major 2024-25 EPL advertising campaign utilizing LED perimeter boards, ensuring massive global exposure.

TapSwap’s New City Builder Mode Ties to TON Airdrop

TapSwap expands with Tappy Town, a city builder mode linked to TON token airdrop.

Top Telegram Games Letting You Earn Crypto

Hamster Kombat leads the pack of Telegram tap-to-earn games, boasting 300 million users.

Comprehensive Guide to Crypto and Bitcoin eSports Betting Sites

Top Bitcoin and crypto eSports betting sites blend secure blockchain technology with a wide range of eSports markets and competitive odds.

Trump's Crypto Campaign Promises Unveiled

Trump's campaign includes ambitious crypto policies, from firing Gensler to bolstering Bitcoin mining.

Mercado Bitcoin Introduces Crypto-Backed Loans

Mercado Bitcoin launches flexible crypto collateralized loans, enhancing borrowing options in Brazil.

Binance Converts Delisted Crypto to USDC

Binance will convert delisted cryptocurrencies to USDC, urges users to withdraw affected tokens by the deadline.

SEC Halts NovaTech's $650M Crypto Ponzi Scheme

U.S. SEC charges NovaTech with defrauding 200,000 investors in a $650M crypto Ponzi scheme.

Australian Man Jailed Over $10.47M Crypto.com Error

Crypto.com mistakenly transferred $10.47M to an Australian man, leading to a jail sentence after he spent millions.

Bitcoin Scammers Impersonate Bank Staff

Police alert public to Bitcoin scammers posing as bank representatives.