⚡️ SEC Withdraws Securities Status for Cryptos in Binance Case

The U.S. Securities and Exchange Commission (SEC) has decided not to pursue the classification of several cryptocurrencies as securities in its lawsuit against Binance. The tokens affected include Solana (SOL) 💵, Cardano (ADA) 💵, and Polygon (MATIC) 💵.

This move comes after the SEC initially labeled these tokens as unregistered securities in June 2023, prompting their delisting from major platforms like Robinhood. This adjustment may influence the ongoing legal battles between the SEC and other crypto entities. (like it was and goes on with XRP 💵)

source

[RU]

⚡️Fed leaves rate unchanged for 8th month straight (5.5%)

The Fed's decision is completely in line with market expectations, so there is no reaction on the BTC and S&P500 charts at all.

Summary of fed meeting:

🛍 Fed reiterates no rate cuts until confident inflation is moving to 2%
🙂Inflation has eased but remains "somewhat elevated"
📊Fed says there has been "some" further progress on inflation
👨‍💻 Unemployment rate has moved up but remains "low"

[RU]

🚨 Highlights from yesterday Powell's speech:

Powell said: "a reduction in our policy rate could be on the table as soon as the next meeting in September."

Powell has positive takes on falling inflation and a normalizing labor market and in the case of a significant decline in the labor market, a change in interest rate policy can be expected.

Powell noted that the work with the inflation is not yet finished, but it is already possible to start cutting the rate.

📈 Wallstreet and Crypto Market may now expect a rate cut in September, which can lead to new a bullrun in September 🤑

Yesterday's drop is likely linked to Iran's statements about its desire to avenge for the killing of the Hamas leader 😰

[RU]

Crypto Nova suggests that Bitcoin is currently showing a potential Inverse Head and Shoulders pattern on the 3-day chart, (a bullish reversal pattern).

We can see that resistance is around $67.000 and support zone on $57.000-$60.000

📈 If BTC breaks above the descending trendline and closes above $67,000, we could see a significant move higher. The potential upside target could be around $83,000, following the completion of the pattern. However, if BTC fails to break this resistance, we might see a pullback to the support zone before attempting another breakout.

#analysis

[RU]

Former President Donald Trump has unveiled a radical plan to reduce the $35 trillion national debt by utilizing Bitcoin. Trump suggests that, if elected, the US will establish a strategic Bitcoin reserve and use the cryptocurrency to manage and pay off the national debt. He believes Bitcoin can strengthen the economy and reduce reliance on traditional financial systems.

Trump: "Who knows? Maybe we'll pay off our $35 trillion dollars, hand them (China) a little crypto check, right? We'll hand them a little bitcoin and wipe out our $35 trillion."

35 trillion in MAGA or in TRUMP coins? 😁

[RU]

One of the worst mornings in crypto history. 😢

However, Crypto Scient thinks the major part of the dump is done. We could chop here around the lows ( $48k - $46k) but won’t get worst then this imo. Any dump towards the lows during the geopolitical situation between Iran and Israel will be an opportunity since everyone is already liquidated.

📉I support this idea, as well as many others crypto traders. This drop may become a last possibility to enter the market at the price below 50k. Nevertheless, the world situation could get worse, leading to a bigger dump.

#notafinancialadvice

[RU]

We are still following this scenario 🥳

Sancho D.T:
After testing the interest zone, a bullish Three Drives Pattern (TDP) was formed. The beginning of growth is expected🔼

When opening short-term long positions, your target may be the $60,200 level - this is the first problem area on the upward movement path.

📈 That's a great signal, considering Trump's interview today. This trader always has a good analysis, and if you consider opening the position, now could be a great moment. 🕯

[RU]