The latest price moves in bitcoin (BTC) and crypto markets in context for Aug. 15, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Stock futures were rising in premarket trading after economic data on inflation cemented expectations for a Federal Reserve interest-rate cut next month. Traders are now leaning slightly toward a quarter-point reduction from the Fed in September, having previously priced in almost 100% certainly of a bigger half-point move amid last week’s market turmoil, according to the CME FedWatch tool. Key points to watch today include Walmart’s earnings and retail sales, both of which will give insight into the outlook for consumer spending, the biggest part of the economy.
Investors should consider buying gold as geopolitical tensions in the Middle East are likely to escalate in the coming months, according to a recent note from Alpine Macro.
August will be a more difficult month for the miners as the price of bitcoin has dropped about 5% while the network hashrate has started to grow again, the report said.
- The U.S. dollar edged higher Thursday, but remained close to seven-month lows after the release of benign inflation data, while sterling rose after solid growth...
Five Bitcoin-centric stocks in focus are: NVDA, COIN, SQ, IBKR, HOOD.
From the US moving $600M in Bitcoin to TON going parabolic, here is a 4-minute breakdown of everything important that happened in crypto today.
Wall Street extends its winning streak as investors feel more confident about the economy.
LatAm cryptocurrency exchange Bitso uses Coincover for better digital asset protection.
The U.S. dollar edged higher Thursday, but remained close to seven-month lows after the release of benign inflation data, while sterling rose after solid growth data. The figures added to cooler-than-expected producer prices earlier in the week, and suggest inflation is on a downward trend which would provide the Federal Reserve with headroom to start cutting interest rates. The next data point is U.S. retail sales later in the session, and will garner significant attention as consumption accounts for about two-thirds of U.S. economic growth.