21 Sep: Awaiting the Fed

21 Sep: Awaiting the Fed

By theinspired | Inspiration | 21 Sep 2022


"There is only one corner of the universe you can be certain of improving, and that’s your own self."
- Aldous Huxley

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Happy Humpday Folks! It's Fed day and we will wait to hear how much they will raise interest rates once again; will it be a huge "wrecking ball" for Bitcoin and the broader Crypto market? Cardano seems to be standing strong. The FED will announce either a 75 to 100 basis point hike at 2PM EST. However, it appears investors are looking past the rate hike and is focused on economic assessment and borrowing cost estimates.

Another hack prevented as a good hacker revealed an Arbitrum vulnerabiliy before the bad guys got a hold of it. Besides China banning Bitcoin for the umpteen time, how many times can the "what is Tether backed by" story run again and again. Stablecoins continue to be the talk of the town globally and there is a pending bill in Congress with multiple authors that is sure to get pushed through. 

POD: Bitcoin Fundamentals - BTC096: Fractional Reserve Banking Vs Bitcoin w/ Mike Stroup (Bitcoin Podcast)

Trending

FED RATE HIKE

  • Fed Preview: Bitcoin Investors to Look Past Jumbo Rate Hike and Focus on Economic Assessment and Borrowing Cost Estimates (Coindesk)
  • Fed Rate Hike: Huge ‘Wrecking Ball’ About To Slam Into Bitcoin, Other Crypto (Bitcoinist)
  • $ADA Standing Strong As Most Cryptoassets Drop In the Wake of Upcoming Fed Meeting (Cryptoglobe)
  • Bitcoin 'nuke' warning as Fed rate hike decision looms — dollar index hits 20-year high (Cointelegraph)
  • Cryptos, Stocks Rally as Fed Raises Rates by 0.75% for Third Straight Month; BOE hikes 50 Basis Points (Blockworks | TB | BM | Coindesk)
  • Breaking: Bitcoin Plunges as Fed Announces Another Big Interest Rate Hike (UToday | BIC | Coindesk)
  • Bitcoin price, equity markets gyrate after U.S. Fed's interest rate decision (TB | Cointelegraph

CRYPTO MARKET

  • Crypto Winter Strategy: How to Survive Extended Market Declines (BIC)
  • Are Companies … Aside From MicroStrategy … Still Buying Bitcoin? (Blockworks)
  • Raising a glass to Satoshi’s Place and the challenge of running Bitcoin businesses (Cointelegraph)

BITCOIN & ETHEREUM

Positive

  • Bitcoin ($BTC) Trading Into Binance’s Stablecoin $BUSD Rose Nearly 400% YTD: Report (Cryptoglobe)

Negative

  • Bitcoin Price Struggles At $19,000, Bears To Continue Dominating? (NewsBTC)
  • What Bitcoin Losing Its Inflation Hedge Narrative Means for the Crypto Market (BIC)
  • Bitcoin’s trend favors the bears as price uncertainty persists (Finbold)
  • TA: Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.4K (NewsBTC)
  • BTC and ETH futures record lowest volumes since December 2020 (Finbold)

POST MERGE

  • Institutional Investors Bet on $BTC and $SOL While Moving Away from $ETH After the Merge (Cryptoglobe)
  • Post-Merge Profit-Taking Cuts 13% Off Ethereum Ratio Against BTC (NewsBTC)
  • Ether Funding Rates Revert to Normal Days After Successful Merge (Coindesk)
  • Major New Ethereum Update Already in Works, Drops Sooner Than You Think (UToday)
  • Report Shows Ethereum Might Take Another Hit, Is It Possible? (NewsBTC)
  • Ethereum and XRP Whales Come Alive, Abruptly Move Nearly $300,000,000 Worth of Crypto in Just 24 Hours (TDH)
  • Sharding could resolve Ethereum scalability trilemma, says researcher (Cointelegraph)
  • Staking providers could expand institutional presence in the crypto space: Report (Cointelegraph)
  • Ethereum: Can The Top Altcoin End Bitcoin’s Dominance Post Merge? (NewsBTC)

CARDANO VASIL HARD FORK

  • What Cardano’s Highly Anticipated Vasil Hard Fork Will Bring (Coindesk)
  • Cardano (ADA) Vasil upgrade goes live tomorrow – here’s what you need to know (Finbold)
  • Cardano May Get Accepted at Many More Million Merchants in Brazil Following These Events (UToday)
  • Cardano's Vasil Now 24 Hours Away, Hardware Wallet Ledger Announces Support (UToday)
  • Cardano: Exchanges Now Ready for Vasil Upgrade (UToday)

ALTCOINS/STABLECOINS/CBDCs

  • Price analysis 9/21: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB (Cointelegraph)
  • $XRP Price Soars as Both SEC and Ripple Seek Summary Judgment in Long-Running Legal Battle (Cryptoglobe)
  • XRP gains 20% in a week as $3 billion flows into its market cap despite prolonged SEC lawsuit (Finbold)
  • Ripple Moves 30 Million XRP, Here's Why It Could Be Bullish (UToday)
  • Cardano (ADA) Surpasses BNB and Avalanche with $11.94 Billion Staked (UToday)
  • US Digital Currency a ‘Unanimous Need’ to Compete With China: House Committee (DecryptBitcoinist)
  • Digital bank FV Bank integrates USDC stablecoin for direct deposits (Cointelegraph)
  • New Stablecoin Issuers Could Face Jail Sentences If This House Bill Passes (BIC)
  • Stablecoin restriction dropped from E.U. digital asset framework (TB)
  • Tether says new court order to produce USDT reserve backing is a 'routine discovery matter' (Cointelegraph)

ANALYST'S CORNER

Positive

  • InvestAnswers: Analyst Says Solana (SOL) Has Potential for Explosive Gains Next Bull Run – Here Are His Price Targets (TDH | Cryptoglobe)
  • Anthony Di Iorio: Best Case Scenario for Ethereum (Cryptoglobe)
  • Raoul Pal: $SOL: Real Vision CEO Raoul Pal Says in Next Cycle His Bet Is ‘Really on Solana’ (Cryptoglobe)
  • JPMorgan: Despite the Bear Market Will Keep Providing Crypto Services (CryptoPotato)
  • Mike McGlone: Bitcoin at Extreme Discount Right Now, Says Senior Bloomberg Strategist (UToday | Finbold | Cryptoglobe | TDH)
  • Altcoin Sherpa: Top Crypto Analyst Predicts Rally for XRP, Maps Out What’s Next for Ethereum and One Additional Altcoin (TDH)

Neutral

  • Jason Pizzino: Here’s a Realistic Bitcoin (BTC) Bottom Forecast, According to Crypto Trader (TDH)

Negative

  • Josh Rager: Trading expert says things ‘not looking so good right now’ for Bitcoin (Finbold)
  • Jamie Coutts: ‘Fear of the unknown’ holds back tradfi investors from crypto — Bloomberg analyst (Cointelegraph)
  • Michael van de Poppe: Cardano’s Vasil Hard Fork Presents ‘Massive Opportunities’ for $ADA, Says Popular Crypto Analyst (Cryptoglobe)
  • Capo: Trader Who Called 2022 Bitcoin Collapse Details Crypto Outlook As FOMC Meeting Arrives (TDH)

NOTABLE VOICES

  • Anatoly Yakovenko: Solana co-founder says Ethereum has a long way to go in scalability despite Merge (Finbold)
  • Marko Kolanevic: Chill! Crypto Will Recover Pretty Soon, JP Morgan Exec Predicts (Bitcoinist)
  • Max Keiser: Bitcoin Bull Blasts Ethereum As A ‘Centralized Ponzi Scheme’ As ETH’s Supply Increases Post-Merge (ZyCrypto)
  • CZ: Binance’s CEO Believes in a Decentralized Future (Blockworks)
  • Brian Armstrong: Coinbase CEO Says Crypto Regulation Is a National Security Issue – Here’s Why (TDH)
  • Jamie Dimon: Stablecoins should be ‘properly regulated’ says crypto skeptic (TB)

ACCEPTANCE/ADOPTION

  • BitPay Confirms Bitcoin As The Most Used Crypto Amid Bear Market (Bitcoinist)

PARTNERSHIP

  • CoinCorner partners with Seed Group to offer bitcoin trading in Dubai (TB)
  • How This Ripple Partnership Will Expand The Use Of XRP For Treasury Payments (Bitcoinist)

BLOCKCHAINS

  • Ripple commits to zero carbon emissions by 2040 (Finbold)

EXCHANGES

  • Binance Dominates the Ranks as Top Exchanges Record Highest Market Share Since 2017 (BIC)
  • Binance Secures Another Crypto License in Dubai (CryptoPotato | Cointelegraph)
  • Binance Leads FTX in Voyager Assets Bid: WSJ Report (CryptoPotatoTB | Coindesk | Bitcoinist)
  • Coinbase to hand out ENS usernames to simplify wallet transactions (Cointelegraph)
  • Nasdaq Joins BlackRock as TradFi Defies the Bear Market and Embraces Crypto (Coindesk)

MINING

  • A sign of the times: Bitmain slashes price of flagship S19 Pro mining rig (TB)
  • Big bank CEOs don't plan to finance crypto mining (TB | Coindesk)
  • Bitcoin Mining Profitability Returns To 2020 Levels, But Why? (Bitcoinist)
  • Bitcoin mining stock report: Wednesday, September 21 (TB)

LEGISLATION/REGULATION

  • Crypto Needs ‘Global Regulatory Framework,' IMF Says (Coindesk)
  • Regulatory clarity will drive the next bull run — hedge fund co-founder (Cointelegraph)
  • Hearing: Alternative payments’ threat to national security goes far beyond crypto (Cointelegraph)
  • Tornado Cash is the latest chapter in the war against encryption (Cointelegraph)
  • Regulatory Hurdles Slow Crypto Adoption in India & Pakistan, Chainalysis Report Reveals (BIC)
  • EU MiCA Bill Takes One More Step Towards Adoption (BIC)

LEGAL BATTLES

  • SEC v Ripple: Demand for a Swift Verdict Helps XRP Price Soar (BIC)
  • XRP Lawyer Outlines What SEC Misses In Summary Judgment (Bitcoinist)
  • Ripple’s general counsel blasts SEC chair, asking who appointed him ‘crypto cop’ (Finbold)
  • Riot sues Northern Data over Whinstone aquisition: Report (TB)

ATTACKS/HACKS/SCAMS

  • Court orders Brazil’s ‘bitcoin pharaoh’ to deposit $3.7 billion to pay back creditors: O Globo (TB)
  • Oman's Indian embassy Twitter account compromised to promote XRP scam (Cointelegraph | Bitcoinist)
  • Voyager creditor committee Twitter account suspended (TB)

LISTEN

  • Bankless - MERGED with Tim Beiko & Danny Ryan
  • Decrypt Daily - Sept 20: The SEC Says ETH is Made in the USA

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theinspired
theinspired

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post.


Inspiration
Inspiration

I've been exposed to the world of crypto since 2011. Now I use my knowledge to curate the most relevant news articles, podcast, videos, blogs and social media information to help you be in the know in Crypto!

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