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BTC is currently trading within a Rising Channel and has bounced off the support line. The bullish momentum is intact as buyers hold this formation. A break above the middle of the channel will continue the upward momentum.
👉 However, a break below the lower trendline could see sellers regain control.
Two popular ways to earn passive income from cryptocurrencies are staking and yield farming. Staking is the act of locking up a specific amount of coins to secure the blockchain network, which is relatively safe and easy. Yield farming, on the other hand, involves depositing assets into a liquidity pool and earning rewards.
While it offers higher returns, it also comes with higher risks and complexity.
Federal Reserve Chairman Jerome Powell has been charged with a criminal offense by U.S. prosecutors. The move, which has shaken global markets on Monday, sent gold prices soaring to new records and sent Wall Street futures prices tumbling. Investors are flocking to gold as a safe haven amid concerns about the Federal Reserve's neutrality.
👉 The political turmoil and potential legal action have created uncertainty in the global economy, which is having a direct impact on stock markets.
A bill to ban members of Congress from trading stocks is expected to pass this week. The move is aimed at preventing conflicts of interest and maintaining transparency. If passed, lawmakers will no longer be able to profit personally from the stock market by exerting their influence.
Recently, social media platform X announced that it is working on a feature to track live prices of cryptocurrencies and stocks on its platform.
Smart Cashtags: X's Head of Product Nikita Bier recently announced this feature. Through this, when users mention a specific asset or token (such as $BTC or $TSLA), clicking on it will show its current market price and chart directly on the timeline.
Real-time data: This is basically part of Elon Musk's plan to transform X into an Everything App or financial platform. As a result, users will not have to go to a separate site to see stock prices.
Trading convenience: It is believed that in the future, this feature may also provide the convenience of buying and selling directly with various brokers or exchanges.
👉 From now on, you can see the current price of a crypto or stock by simply seeing its cashtag on X's timeline. This is mainly done to make financial transactions and information exchange easier.
Inflation in the United States has fallen to 1.88%, which is a relief for the Federal Reserve. However, the weakening labor market has put some pressure on the economy. In this situation, the Fed has no other option but to cut interest rates.