SUMMARY OF FED DECISION (9/18/24):

1. Fed cuts interest rates by 50 bps for the first time since 2020

2. Fed sees 2 more 25 basis point rate cuts in 2024

3. One Fed governor dissented for the first time since 2005 in favor of a 25 bps rate cut

4. Fed gained "greater confidence" that inflation is moving to 2%

5. Fed will "carefully assess incoming data" and evolve the outlook

6. Fed sees 100 bps of rate cuts in 2025 and 50 bps of cuts in 2026

🇺🇸 Last 2 times the Fed’s first cut was 50+ bps:

▫️Jan 3, 2001
- S&P 500 fell ~39% next 448 days
- Unemployment rose another 2.1%
- Recession

▫️Sep 18, 2007
- S&P 500 fell ~54% next 372 days
- Unemployment rose another 5.3%
- Recession

That move higher looks like bait. below 63k it should drop a lil.

Japanese public company Metaplanet stock performance after adopting the #Bitcoin strategy.

$NEAR short scalp
Entry: 4.466
SL: 4.585
Targets: 4.37 - 4.31 - 4.14
Risk: High

$NEAR TP1✅ 4.37
$NEAR TP2✅ 4.31
SL to BE

Spot #Gold Reaches New Historical High of $2600

BREAKING: 🇨🇳 China M1 money supply suffers largest decline in history.

Current markets predict a 50% chance that the U.S. will fall into a recession by June 25.

$MSTR is beating 100% of the S&P 500 with #Bitcoin

$MSTR alone now holds 1.3% of the total #Bitcoin supply

Global M2 hit an all-time high

Historically, #Bitcoin price follows

Key Events This Week:

1. S&P Global Services PMI data - Monday
2. CB Consumer Confidence data - Tuesday
3. August New Home Sales data - Wednesday
4. August Durable Goods Orders data - Thursday
5. Q2 2024 Final GDP Reading - Thursday
6. August PCE Inflation data - Friday

Digital asset investment products experienced a second consecutive week of inflows, totaling $321 million. This surge was likely driven by the Federal Open Market Committee's (FOMC) decision to cut interest rates by 50bp.

Bitcoin saw $284m in inflows while Ethereum saw outflows for the 5th consecutive week, totaling $29m

Unrealized losses on investment securities for US banks reached $512.9 billion in Q2 2024.

This is 7 TIMES higher than at the peak of the 2008 Financial Crisis.

Crypto Net Inflow : Sep 23

BTC ETFs : $4.5M
ETH ETFs : -$79.3M

In under 2 weeks, FTX will start redistributing $16B to creditors❗️

That’s enough to buy 250,000 $BTC at current prices

Bitcoin is growing faster than the Internet

Bybit apes longing into NY open. Not gonna do well for them. 62k first.

JUST IN: BlackRock has purchased 359,279 #Bitcoin worth over $23 billion since January 2024.