🪙 #Tether Under Pressure Again

Consumers' Research, a consumer advocacy group, has published a new report accusing the issuer of #USDT of a lack of transparency and the absence of a full audit of the reserves backing their stablecoin.

The report calls Tether the new #FTX, pointing to the possibility of a similar collapse with their crypto dollar's value dropping to zero. In addition to the report, Consumers' Research sent an open letter to the governors of all U.S. states and launched social media ads on radio and the internet.

😨 — Everything is lost; #USDT is done for
😎 — I’ll wait for the panicking crowd to move their capital to #BTC

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📈 #Bitcoin is rising

At the moment, #BTC is attempting to consolidate at the $60,000 level, and altcoins from the top 100 are also showing price growth.

The reason for the positive trend is the new ATH of the S&P 500 index (#SPX).

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📆 #EventOfTheDay — Fed Meeting

Today at 6:00 PM GMT, the U.S. Federal Reserve will announce the new interest rate.

🪙 At the moment, there is no general consensus on whether the rate will be cut by 50 or 25 basis points, but all market participants are confident that a rate cut will lead to an influx of liquidity and a rise in #BTC.

📌 Experts expect high volatility before and for some time after the meeting. It is important to note that Jerome Powell's press conference will also take place today, and his statements could impact the market situation.

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🚀 The market is rising after Jerome Powell's statements

The key points of his speech were that the Federal Reserve is fully focused on inflation and employment, economic activity continues to grow, and the decision has been made to adjust policy towards less restraint.

📣 The most interesting part that pushed the market upward was Powell's statement that the Fed is ready to continue lowering rates in November and December, provided that there is positive economic data. As a reminder, the rate was near zero until March 2022. A return to these levels could be a powerful catalyst for capital inflow into high-risk assets.

🪙 However, it's worth noting the muted reaction of #BTC, whose price did not show significant growth despite the positive news, due to a $52.7 million outflow from #ETF.

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🕯 #BlackRock in a new report called #BTC a unique asset for diversification

The #Bitcoin-#ETF is positioned as a hedging tool against fiscal, monetary, and geopolitical risks. The key point is the irregular correlation of #BTC with the U.S. stock market and the resilience of digital gold to market fluctuations caused by panic.

📈 Notably, the report also includes a section titled "Bitcoin’s Path to a $1 Trillion Market Capitalization."

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📈 Historically negative September brought Bitcoin an 8% increase

Today, #BTC broke the $64,000 level, where it last traded on August 26. Experts cite the recovery of the U.S. stock market after the Fed's rate cuts and the Bank of Japan's decision to maintain its rates as the main drivers of the growth.

🕯 The current situation with cryptocurrencies is developing according to the classic scenario: the dollar index is falling, but high-risk assets are rising, benefiting from increased liquidity.

#ETF also saw capital inflows, with over $158 million added yesterday, signaling positive sentiment among institutional investors.

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📈 The global money supply (M2) has reached an all-time high

Why is this important?

📊 Rising inflation risks, driven by cheap credit and the intention of central banks to continue lowering key interest rates, are pushing investors to seek higher returns and move capital into riskier assets.

#Bitcoin typically responds positively to increases in the #M2 indicator, and the current situation is no exception.

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⚡️ China announces rate cuts

In addition to emerging news that China will allow the use of cryptocurrencies, the People's Bank of China has introduced a new large-scale economic stimulus program, which includes easing requirements for banks and lowering the base interest rate.

🔼 Chinese stocks have already responded with growth, reaching a 2.5-year high. The yuan also rose against the dollar, hitting a 16-month high.

Experts note that the rate cuts by China's central bank and the country's economic growth could become a significant driver of bullish sentiment in the cryptocurrency market due to the historically strong influence of Chinese investors on digital assets.

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🧭 The Fear and Greed Index has reached a value of 61 — greed

Like the price of #BTC, the index is showing unusual figures for September.

🕯 Meanwhile, spot #Bitcoin-#ETFs recorded the largest inflow since July, amounting to $365 million. Fund inflows have continued for the sixth consecutive day.

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⚡️ Japan is ready to revise cryptocurrency regulations

In addition to plans to launch yen-pegged stablecoins and to test a cross-border cryptocurrency transfer platform by Japanese banks, the country's government authorities are soon planning to reduce taxes on digital assets and open domestic funds for investment.

📌 This is particularly important and interesting as this step could lead to the launch of a cryptocurrency #ETF in Japan, which will bring additional funds to the market.

A specialized agency has already begun assessing the current approach to cryptocurrency regulation and promises to present a report with new recommendations in the coming months.

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