New Data from the U.S.
Bitcoin's price dropped again yesterday. The reason? New data from the U.S. The question is whether the market misinterpreted this data.
It's about inflation. In September 2024, inflation fell to 2.4%, the lowest since February 2021. The market consensus was 2.2%, and the Fed's predictive model indicated 2.25%. Perhaps that's why bitcoin's price fell – inflation decreased, but not as much as analysts expected. Additionally, core inflation slightly increased from 3.2% to 3.3%.
It’s doubtful that these figures will prompt the Fed to stop cutting interest rates. However, in the crypto market, this may have been the last correction before the bull run.
Source: scrippsnews.com
Visa is Developing a Platform for CBDC Testing
Visa is working on a platform that will allow testing, creation, transfer, and settlement of transactions using digital assets. The platform is still in the testing phase, but it's expected that over 15,000 clients from more than 200 countries will eventually participate in the project.
Source: cryptobriefing.com
HBO Documentary on Bitcoin
HBO released a documentary on bitcoin that aimed to answer the question of who Satoshi Nakamoto is. Unfortunately, it turned into cheap sensationalism. The creators suggested, among others, Peter Todd, a Bitcoin Core developer. Todd has already denied being the founder of the BTC network. He had previously joked a few times that he was Satoshi.
We still don’t know who created bitcoin, but it’s encouraging that HBO is producing such documentaries, as they at least help raise awareness about cryptocurrency.
Source: X
Crypto.com Sues SEC
Crypto.com received a Wells notice from the SEC, which is a precursor to a lawsuit. The exchange responded by... suing the SEC. The issue, according to the company, involves the Commission overstepping its authority. The exchange argues that the SEC's policies are harming cryptocurrency investors.
It's worth noting that if Donald Trump wins the U.S. elections, Gary Gensler, the current head of the SEC, will lose his position. The Republican announced this officially during the Bitcoin 2024 conference.
Source: X