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Powell creates a stir in the cryptocurrency market with crucial statements
During a press conference on Wednesday, July 31, Federal Reserve Chairman Jerome Powell stated that the central bank could execute an expected rate cut in September. Powell noted that the economy is now “getting close” to the point where it would be appropriate to reduce the current interest rate, “but we are not there yet.” Previously, July was discussed as the month to implement the first rate cut; however, the Fed has unanimously decided to wait until the next meeting. Meanwhile, following Powell’s speech, the probability of a rate cut in September currently stands at 93.5%.
Birthday rally eyes, if SHIB price history proves its worth
This month, August 2024, the meme cryptocurrency Shiba Inu is celebrating its fourth anniversary. While the SHIB community is celebrating, investors are keeping a close eye on the SHIB token’s price chart in anticipation of a potential rally. Based on Shiba Inu’s track record, August has always been a good month for the token, with an average return of 2.7% and a median return of 3.4%. It is rare for both the median and average to be positive, which tends to support expectations. Because of this rarity, there is a higher chance that SHIB will close August on a positive note, adding to the optimism of a bullish trend as summer comes to a close.
This is what BlackRock (NYSE:) currently has
In the BTC ETF market, the upper hand belongs to the BlackRock iShares Bitcoin Trust (IBIT). According to the recently published data on the asset manager’s total Bitcoin holdings, they have grown to over 343,000 BTC. The exact amount of Bitcoin held by BlackRock constitutes 343,387.46220 BTC. At the current BTC price of $63,285, the holding is valued at $21,706,544,778.72 as of August 1, 2024. Meanwhile, as for its USD Cash holdings, BlackRock has a significant amount of 326,384.95000 worth $326,384.95 in its portfolio.
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