The global cryptocurrency market cap now stands at $2.23 trillion, reflecting a positive increase of 1.44% over the past day as per recent data from CoinMarketCap. Bitcoin (BTC), one of the most scrutinized assets in the digital currency space, has been fluctuating between $62,700 and $63,948 in the last 24 hours.
As of 09:30 AM (UTC) today, Bitcoin is trading at $63,599, showing a slight decline of 0.13%. Most of the major cryptocurrencies by market capitalization are demonstrating a mixed performance today. Notable outperformers in the market include FIDA, GHST, and OOKI, which have posted impressive gains of 31%, 23%, and 17%, respectively.
In today's top stories, significant developments have emerged: - Hong Kong's virtual asset ETFs have recorded a remarkable trading volume, highlighting the increasing interest in digital asset investment. - Gold prices are projected to rise further due to ongoing global tensions and evolving monetary policies, marking a continued demand for this traditional safe-haven asset. - Swiss banks are collaborating to explore the potential introduction of a digital Swiss Franc, a move that may reshape the financial landscape of the region. - Spot gold has surpassed $2,640 per ounce, marking a new all-time high and attracting attention from investors seeking security amidst market volatility.
- Bank of Japan Governor has indicated a potential rate hike in response to rising inflation trends, a development that could impact global market conditions. - JPMorgan's CEO has made predictions about prolonged high interest rates, further promising to influence capital markets. - Grayscale has reported significant net outflows and inflows within its Bitcoin Trust, reflecting investor sentiment fluctuations.
- U.S. politicians are urging the SEC to reconsider current cryptocurrency custody rules, a topic that could shape the regulatory framework surrounding digital assets. - AI-related cryptocurrencies are leading the crypto rally as altcoins outperform Bitcoin, showcasing a growing trend in the integration of technology and finance.
- Telegram has updated its privacy terms, now allowing user data sharing with authorities, raising concerns among its user base. - Digital Asset and the DTCC have successfully completed a pilot for a U.S. Treasury collateral network, marking a significant advancement in financial technology and asset management.
- Goldman Sachs has predicted a weakening dollar following anticipated cuts from the Federal Reserve, resulting in varied implications for global trade and investments. - The Federal Reserve's Goolsbee noted a rising unemployment trend, suggesting economic stresses that could prompt intervention. - The Chicago Fed's NFCI indicates looser financial conditions, which may entail a potential boost for Bitcoin in the near future.
- The Fed's Goolsbee has also suggested the possibility of rate cuts in the upcoming year, contingent on economic performance metrics. Today in the world of cryptocurrency, notable discussions include Vice President Kamala Harris and her stance on digital assets, the continued outperformance of Bitcoin, and exciting announcements surrounding the Hamster Kombat airdrop.
Analysts remain optimistic, predicting strong Bitcoin gains in Q4 2024 based on historical trends, while Fed's Kashkari forecasts a potential 50 basis point rate cut in 2024, complemented by Federal Reserve's Bostic who anticipates smaller rate adjustments ahead. Market movers today show the following: - ETH: $2648.22 (-0.36%) - BNB: $601.4 (+1.55%) - SOL: $147.18 (+1.59%) - XRP: $0.5879 (-0.24%) - DOGE: $0.10839 (+1.20%) - TON: $5.587 (-0.52%) - ADA: $0.3695 (+4.20%) - TRX: $0.1521 (-0.13%) - AVAX: $27.49 (-0.15%) - WBTC: $63478.65 (-0.16%) Top gainers on Binance include FIDA/USDT (+31%), GHST/USDT (+23%), and OOKI/USDT (+17%)..