Bitcoin price today: drops below $67k as election jitters mount
Investing.com-- Bitcoin’s price slipped on Wednesday as appetite for risk-driven assets remained weak amid uncertainty over the U.S. election and as traders positioned for smaller interest rate cuts by the Federal Reserve.
The world’s biggest cryptocurrency fell 0.8% to $66,452.0 by 09:01 ET (13:01 GMT) after largely failing to break past $70,000 earlier this week.
Declines in global stock markets also signaled that risk appetite remained weak, while the upcoming expiry of about $4 billion in Bitcoin options is expected to increase crypto market volatility in the coming days.
Bitcoin hit by uncertainty over presidential election
Recent polls and online prediction markets showed Republican nominee Donald Trump gaining an edge over Democratic candidate Kamala Harris in the 2024 presidential election.
But the race was still seen as too tight to call, especially with about two weeks left to the ballot.
While increased optimism over a Trump presidency had initially boosted crypto prices, this enthusiasm now appeared to be fading, especially as the elections drew closer.
Trump has maintained a pro-crypto stance, promising to roll out crypto-friendly regulation if elected. Harris also recently pledged to a crypto regulatory framework.
Rate jitters dent crypto as dollar firms
Crypto markets were also pressured by a stronger dollar, as growing expectations of a slower pace of interest rate cuts by the Federal Reserve pushed the dollar to near three-month highs.
Traders were seen pricing in a greater chance the Fed will cut rates by a smaller 25 basis points in November, and were also seen positioning for a higher terminal rate. This notion saw Treasury yields surge to near three-month highs, pressuring risk-driven assets.
Higher rates bode poorly for speculative assets like crypto, given that they limit the amount of liquidity available for investing in the sector.
Crypto price today: altcoins track Bitcoin weakness
Among broader crypto markets, altcoin prices fell on Wednesday, tracking weakness in Bitcoin.
World no.2 crypto Ether fell around 2% to $2,567.92, with the coin also expected to see increased volatility this week with the expiry of about $1 billion in Ether options.
XRP, SOL, MATIC and ADA fell between 0% and 2%, while among meme tokens, DOGE slid 2.4%.
Nigeria releases detained Binance executive after 8 months
In other crypto-related developments, a Nigerian court has dropped charges and approved the release of Binance executive Tigran Gambaryan, who had been in detention since February.
The case against Gambaryan, a former IRS agent and head of financial crime compliance at Binance, was discontinued due to his deteriorating health, according to a Bloomberg report.
Gambaryan was detained after traveling to Nigeria to negotiate with authorities regarding the ban on several cryptocurrency trading platforms. During this visit, he was asked to surrender his passport and was subsequently taken into custody.
At the same time, Binance's regional manager for Africa, Nadeem Anjarwalla, was also detained but managed to escape and leave the country within a month. Gambaryan, however, remained in detention, and his health steadily declined.
During his eight-month detention, Gambaryan suffered from malaria, a chest infection, and a herniated disc that restricted his mobility. His family and US officials raised concerns about inadequate medical treatment, which contributed to the worsening of his condition.
🌞EVHT Official Launch Announcement 📷Dear Investors, We are thrilled to announce the official launch of EVHT (Electric Vehicle Hyper Tech) digital currency today! 📷In just a few hours, trading volume has exceeded expectations, and the market response has been phenomenal. 📷 Analysts are predicting growth potential of no less than 800%, with some experts estimating returns that could soar past 1200%! 📷📷📷The demand is skyrocketing 📷📷 and remaining subscription slots are limited. We highly encourage investors to act fast—this is one of the most important opportunities of the year.
Michael Saylor Issues Bitcoin 'To Moon' as BTC Hits $68,000 Price
https://t.co/rP6jRvDBWH - The price of Bitcoin surged past the $68,000 mark, catching the attention of Michael Saylor, the chairman of MicroStrategy, to issue a "to the moon" X post. The tweet was accompanied by an image of Saylor wearing astronaut's clothing, and a rocket inscribed with the Bitcoin insignia.
Saylor's declaration comes at a time when the cryptocurrency market is experiencing volatility.
The cryptocurrency market as a whole continued to rise on Wednesday, driven by Bitcoin (BTC), which increased its weekly gain to more than 12% and surpassed $68,000 for the first time since late July.
Bitcoin rose to a nearly three-month high of $68,399 in today's trading session, on track for three consecutive days of rises. At press time, the world's largest crypto had slightly retreated to $67,607 but is still up 1.23% over the past 24 hours, higher than the intraday's $66,743.
Bitcoin's "dominance," or proportion of overall cryptocurrency market capitalization, has increased to 58.91% from 57.13% at the beginning of October.
Bitcoin dominance peaked at more than 70% during the 2020-2021 bull market, before falling to as low as 40% by mid-2021. For nearly than a year, dominance remained around those levels before bottoming out with the collapse of cryptocurrency exchange FTX in late 2022. A steady climb then began, which has continued to the present moment.
Bitcoin might experience volatility
According to Glassnode, a notable divergence between supply and demand has emerged, with the market remaining range-bound for more than seven months. Low volumes across on-chain and futures markets, combined with a HODLer-dominated environment, point to increased volatility in the foreseeable future.
One-Year Bitcoin (BTC) Cycle on Verge of Being Broken
https://t.co/rP6jRvDBWH - The market for Bitcoin recently indicated that a reversal is imminent, which has sparked speculation that the one-year cycle may soon end. In the past, Bitcoin has generally followed a predictable pattern; however, the way the market is acting right now points to a possible break from this pattern.
The price of Bitcoin has been testing significant resistance in the last few days, and the accompanying chart indicates that this level is almost at the top of the cryptocurrency's long-term declining channel at $66,000. This level has frequently served as a ceiling for Bitcoin, as it has never been able to decisively break past it. But recent signs suggest that the market may be changing.
For example, the spot premiums for Bitcoin and Ethereum are declining, which has not happened since June. The digital asset may be about to witness a major development, as indicated by this and the ongoing increase in the global M2 money supply, which is directly related to Bitcoin's liquidity.
The amount of $66,000 is the immediate resistance and one of the key price levels to keep an eye on. A bullish breakout may be indicated if Bitcoin is able to break above this level with significant volume. Traders are monitoring $62,000 as a critical support level in case of a decline. Subsequent collapses may point to a more significant adjustment. Last but not least, there is still psychological resistance at $60,000, and a decline below it may result in additional losses as traders reevaluate their holdings.
The narrative surrounding the Bitcoin rally is further reinforced by the global liquidity index hitting new highs. This implies that market liquidity is sufficient to sustain additional price increases which, if the trend continues, could drive Bitcoin toward new all-time highs. But volatility is to be expected, so the next few weeks will be crucial for the movement of Bitcoin's price.
Even though there is a chance to break the one-year cycle, a lot will depend on how Bitcoin handles these crucial price points.
AIQC is officially live and listed! 👏A huge congratulations to our amazing team for their hard work and dedication, and a special thank you to all the members who believed in this vision from the start! 🎯
Let’s continue to seize the future of cryptocurrency together—this is just the beginning! 👍
#AIQC #CryptoLaunch #DigitalFuture #Teamwork #NextBigThing
1,000,000 Bitcoin (BTC) at Stake as Crucial Date for Satoshi Nakamoto Mystery Comes
https://t.co/rP6jRvDBWH - Today is Oct. 8, which means that the long-awaited documentary "Money Electric: The Bitcoin Mystery" from HBO should soon be hitting viewers' screens. Despite the fact that few people knew anything about this film a week ago, the ambitious statements of the film's creators that the identity of Bitcoin creator Satoshi Nakamoto would finally be revealed have greatly fueled expectations.
Over the past few days, the attention and mental efforts of most crypto market participants have been focused on determining who will be nominated for the role of Satoshi in the movie, while creating meme coins and betting on the outcome on the Polymarket.
However, despite all the speculation and discussion, which is largely absurd and frivolous in nature, revealing who created Bitcoin may actually have a greater impact on the market.
After all, according to an old story circulating among crypto market participants, Satoshi Nakamoto's wallets may hold more than one million BTC, which is 4.76% of the total possible supply of the main cryptocurrency and is currently valued at more than $62.3 billion.
$62 billion burn
If HBO has proven who Satoshi Nakamoto is, and that person is no longer alive, and there are such individuals among the top contenders, it could literally mean burning at least one million BTC on live TV. Those coins simply will not be available to anyone.
No doubt this will have a resounding effect on Bitcoin itself and the entire crypto market. In many ways, however, expectations for solving the mystery of Satoshi Nakamoto are now rather low.
VENKO Achieves Key Milestones and Expands Utility with Alien-Themed Ecosystem on Solana
Dubai, Dubai, October 7th, 2024, Chainwire
VENKO, an alien-themed meme coin launched on the Solana blockchain, has seen early traction with notable achievements, including listings on CoinMarketCap and CoinGecko and an all-time high market capitalization of nearly $3 million on Raydium. Aims to stand out in the competitive meme coin landscape, VENKO integrates its extraterrestrial theme with planned utility-driven platforms such as Alienium and UAPsnap.
Unique Concept and Growing Ecosystem
While VENKO draws inspiration from successful meme coins like DOGE, SHIB, and PEPE, it aims to distinguish itself by offering a comprehensive ecosystem centered around extraterrestrial interests. The development team has outlined a roadmap designed to establish VENKO as a leading player in the meme coin market, leveraging its alien theme alongside broader cultural interest in UFOs and unexplained phenomena.
Alienium: A Social Hub for UFO and Alien Enthusiasts
Alienium, VENKO’s upcoming social platform, is set to serve as a hub for individuals interested in UFOs, aliens, and other unexplained phenomena. Final testing is reportedly complete, and the platform will feature various community-driven activities, including:
Exclusive events like movie nights and live discussions.
Alien-themed dating for connecting with like-minded enthusiasts.
Monetization tools allowing content creators to tip, be tipped, and raise funds for projects such as archeological digs and documentaries.
Alienium is designed to be a niche social network where users can engage with extraterrestrial topics, using $VENKO as the platform's native currency for premium experiences and features.
UAPsnap: Capturing the Unseen
In addition to Alienium, VENKO is developing UAPsnap, a platform dedicated to reporting and analyzing unidentified aerial phenomena (UAP). Users will be able to capture and share sightings, analyze data, and connect with others interested in tracking unexplained aerial events. The platform is part of VENKO’s broader strategy to provide utility beyond the meme coin hype by appealing to the growing community of UFO and extraterrestrial enthusiasts.
A New Era of Meme Coins
VENKO isn’t just about memes and hype. It’s building a long-term strategy, with goals of reaching 10,000 holders and beyond. Plus, it’s surrounded by experienced industry veterans, including those from leading social media platforms like Facebook (NASDAQ:META), helping shape VENKO’s platforms into the go-to hub for alien and UFO enthusiasts.
With accelerated marketing and growth campaigns in the pipeline, VENKO is positioning itself to be the No.1 alien meme coin.
Roadmap and Future Plans
As VENKO continues its development, the project’s roadmap includes significant milestones such as the launch of its first centralized exchange (CEX) listing on BitMart. The team, which includes veterans from leading social media platforms like Facebook, has also announced plans to grow the community to 10,000 holders through targeted marketing and community engagement efforts. Airdrops and other community-focused rewards are also planned as part of VENKO’s long-term strategy to incentivize user participation and drive adoption.
Looking Ahead: 2024 and Beyond
With ongoing platform development, public tranding, and community-building initiatives, VENKO aims to position itself as a prominent player in the meme coin space, targeting UFO enthusiasts and crypto users alike. The project’s focus on building real-world utility through platforms like Alienium and UAPsnap sets it apart from other meme coins, as it seeks to create a sustainable, community-driven ecosystem.
About VENKO
VENKO is a meme coin built on the Solana blockchain, combining extraterrestrial themes with real-world utility. It offers unique platforms like Alienium, a social hub for UFO enthusiasts, and UAPsnap, a platform for tracking aerial phenomena. The project aims to become a leading meme coin in the cryptocurrency space by integrating community-driven initiatives with long-term utility.
Bitcoin Ships Major Core 28.0 Update, What Is New?
https://t.co/rP6jRvDBWH - Nearly six months after the debut of Bitcoin Core 27.0, the BTC development team have launched the latest update of the protocol. Dubbed Bitcoin Core 28.0, this new iteration comes with a couple of improvements and bug fixes for the Bitcoin mainnet.
Bitcoin development team aims for more security and privacy
This week, the Bitcoin development team published notes that highlighted a number of updates designed to bring improvements to the program's functionality and its security. In addition to more security and other bug fixes, Bitcoin Core 28.0 brings upgraded privacy features to users.
This comes only a few weeks after developers notified the public of the advent of high-risk vulnerability and a software bug. These loopholes were focused on one in every six Bitcoin nodes, disrupting their operations. Precisely, these vulnerabilities made nodes very susceptible to DoS attacks from malicious actors. All the attacker had to do was exhaust the nodes with low-difficulty header chains.
Once these nodes were able to download long chains that exceed their bandwidth, a potential crash followed. With Bitcoin Core 28.0 and its additional security enhancement, this is no longer a challenge. To a large extent, this latest development supports reproducible builds, allowing experienced users to compile identical binaries in addition to those distributed on the BTC Core official website.
In the long run, it promotes trust and transparency within the BTC community.
Bitcoin price sees some rally
The market outlook of BTC took a new turn Sept. 18, right after the Federal Reserve announced a 50-basis-point rate cut. The flagship cryptocurrency made it way above $60,000 after dwindling below this level for many days. A few days after, the coin plunged and started trading sideways.
Title: AIQC: The Next Big Leap in Cryptocurrency? Projected Surge of Over 2000%
In recent years, the rapid growth of blockchain technology and the cryptocurrency market has captured the attention of global exchanges and investors alike. Among the latest emerging cryptocurrencies is AIQC (Artificial Intelligence Quantum Coin), which is poised to be the next star in the market. Industry experts predict that this newly launched digital asset may see a surge of over 2000%. This forecast is grounded not only in broad market sentiment but also in concrete data, technical advantages, and societal trends.
1.Booming Cryptocurrency Market
Since the inception of Bitcoin, the global cryptocurrency market has been steadily expanding. According to data from CoinMarketCap, the global crypto market cap has surpassed $1.5 trillion and is projected to exceed $2 trillion by 2024. Such exponential growth presents a tremendous opportunity for new digital currencies like AIQC.
AIQC stands out in this growing market, primarily due to its unique technological backbone and its potential real-world applications. Investors are drawn to its innovative approach, further driving the demand and fueling speculation about its future growth.
2.The Synergy of Blockchain, AI, and Quantum Computing
The standout feature of AIQC lies in its combination of blockchain, artificial intelligence, and quantum computing—three cutting-edge technologies that each have transformative potential. Blockchain ensures transparency and security through its decentralized ledger. Artificial intelligence enhances AIQC’s ability to learn and adapt to market fluctuations, making it more competitive in high-frequency trading environments. Quantum computing solves traditional cryptocurrencies' scalability and security issues by providing unparalleled computational power and sophisticated encryption.
These technological advantages give AIQC the potential to outperform many established cryptocurrencies. The integration of AI and quantum computing, in particular, is likely to attract a wide range of investors looking for the next big thing in crypto innovation.
3. Strong Attention from U.S. Exchanges
AIQC has already garnered significant attention from some of the top U.S.-based exchanges. Major platforms such as Coinbase, Kraken, and https://t.co/3J3eRBXpHa have all expressed interest in listing AIQC for trading. The backing of these leading exchanges not only bolsters AIQC’s credibility but also guarantees greater liquidity, a crucial factor in the cryptocurrency market.
Coinbase, known for its large institutional investor base, could drive substantial capital into AIQC once it's listed. Kraken, with its rigorous asset review process, will further enhance investor confidence if AIQC meets their strict listing standards. Being listed on multiple prominent exchanges increases the potential for a rapid price surge as liquidity increases and demand rises.
The U.S. market’s regulatory framework also plays in AIQC’s favor. The advanced infrastructure and legal compliance standards of the U.S. ensure that AIQC will have a smoother entry into the market, providing additional reassurance for investors.
4. Social and Market Demand
Another key factor driving AIQC’s potential growth is the increasing demand for advanced technologies like AI and quantum computing across industries such as finance, healthcare, and manufacturing. AIQC’s design positions it to tap into this growing demand, becoming an essential part of the future digital economy.
Furthermore, the growing interest in decentralized finance (DeFi) is creating fertile ground for AIQC. As traditional financial systems face challenges, there is a growing appetite among investors for more transparent and flexible financial tools. AIQC’s unique value proposition positions it well to capitalize on this trend and attract long-term growth-focused investors.
5. Why AIQC’s Price Surge Could Exceed 2000%
Several key factors support the projection that AIQC’s price could rise by over 2000% in the near future:
Technological Breakthroughs: AIQC’s combination of blockchain, AI, and quantum computing sets it apart from other digital currencies. This unique advantage will likely create high demand from institutional investors and tech enthusiasts alike, driving up the price.
Institutional Interest: Large institutional investors in the U.S., such as hedge funds and asset management firms, have already shown interest in AIQC. As these institutions pour in capital, the supply-demand imbalance will inevitably lead to a price surge.
FOMO (Fear of Missing Out): In the cryptocurrency space, FOMO often plays a significant role in driving investment. With investors wary of missing out on a major opportunity, AIQC is likely to see a flood of investments that will further push up its value.
Global Macro Conditions: In a world where traditional financial markets face increasing volatility due to geopolitical tensions and economic shifts, digital assets like AIQC are becoming a hedge against uncertainty. This could lead to further inflows of capital into the crypto market, supporting AIQC’s rise.
Conclusion
AIQC is more than just a new cryptocurrency—it represents a breakthrough in digital finance, driven by advanced technologies like AI and quantum computing. Its projected growth of over 2000% is based on real market potential, technical innovation, and increasing institutional interest. With the U.S. market and leading exchanges closely monitoring AIQC, investors should take note of this emerging opportunity. AIQC could well be the next major player in the world of cryptocurrencies, and those who get in early stand to reap significant rewards.
'Bitcoin Bull Run Starts Monday,' Satoshi's Message to NBA Legend Says
https://t.co/rP6jRvDBWH - One of the top NBA players in the past, Scottie Pippen, continues to attract ridicule by posting about Satoshi Nakamoto talking to him in his dream and passing secret knowledge about future Bitcoin price moves.
This time, Pippen again claimed that he received an insight from the mysterious Bitcoin creator.
"Bull run starts Monday"
In his tweet, Pippen wrote that he had a dream last night and “Satoshi showed up, holding a basketball.” According to the NBA player, the enigmatic Bitcoin creator kept his message “short and sweet” this time and he again revealed to Pippen that a Bitcoin bull run “starts on Monday.”
Pippen spilled the beans about the reason for this, allegedly given to him by Satoshi: “CZ is free.” After that, Satoshi told him to go and show up to basketball practice.
Among the comments to his tweets were those who wondered if it was the former NBA player himself who made that post: “This isn’t scottie posting. it’s a social media crypto team being opportunistic.”
As reported by https://t.co/rP6jRvDBWH, at the start of September, Scottie Pippen for the first time tweeted that Satoshi visited him in his dream and gave him the message that Bitcoin was to surge to $84,650 on Nov. 5.
Binance creator released from prison
On Sept. 27, a co-founder of the world’s largest exchange Binance and its former Chief Executive Changpeng Zhao, known within the community as simply CZ, was released after finishing his prison term.
He had got off lightly by spending in the cell only four months on charges of violating the U.S. securities laws and helping Binance high profile clients to launder money. Unlike CZ, the founder of the FTX exchange Sam Bankman-Fried has been sentenced to 25 years and the founder of the Silk Road darkweb marketplace Ross Ulbricht was given a double-life sentence.
Many in the crypto community are positive that the release of CZ from jail is likely to spark a bull run for Bitcoin and the whole crypto market. Founder of the CryptoQuant on-chain data company Ki Young Yu yesterday tweeted that CZ just needs to tweet “I’m back” and “the market will skyrocket.”
Besides, October is about to start, which is historically a bullish month and has received the name “Uptober” in the trading community.
Stock Market Today: Dow, S&P 500 ride Nvidia surge to close at fresh record highs
Investing.com-- The S&P 500 and Dow notched closing record highs Tuesday, shrugging off signs of consumer worries about the economy as Nvidia led an ongoing rally in tech.
At 4:00 p.m. ET (2000 GMT), the S&P 500 rose 0.3% after hitting a fresh closing record high of 5,735.66, the NASDAQ Composite climbed 0.6%, and Dow Jones Industrial Average gained 83 points, or 0.2%, with latter also closing at a record of 42,208.22 earlier.
Nvidia leads tech higher
NVIDIA Corporation (NASDAQ:NVDA) climbed nearly 4%, adding to recent gains, helping the broader tech sector continued its March higher.
The rally in Nvidia comes despite recent media reports that the chipmaker has stopped taking orders for its H20 chips to comply with the U.S. export ban on semiconductor equipment to China.
Consumer confidence hits three-year low; Fed speakers on watch
The Conference Board’s consumer confidence index fell to a reading of 98.7 from 105.6 in August, the biggest one-day slump since in three years.
Worries about the the jobs and inflation were the biggest concerns among consumers, according to the survey.
The signs of jitters from consumers come just as Fed speakers continue to suggest that the path of further rate cuts would be driven by incoming economic data.
U.S. Federal Reserve Governor Michelle Bowman said Tuesday the Fed would have to proceed with caution on further rate cuts as components of inflation were still "uncomfortably above" the Fed's 2% target.
Bowman, who was the lone dissenter in the September meeting against the 50bps rate cut, kicks off a week that includes remarks from Chair Jerome Powell as well as other Fed members.
Minneapolis Fed President Neel Kashkari said he expected the Fed to slow its pace of future rate cuts after a strong start to the easing cycle, while Atlanta Fed President Raphael Bostic said the economy was nearing normalization faster than expected, although he did not expect the Fed to go on a “mad dash” to cut rates.
The Fed cut rates by the top end of market expectations last week, and the signaled the beginning of an easing cycle that analysts expect to bring rates lower by 125 bps by the end of the year.
PCE price index data - the Fed’s preferred inflation gauge - is due on Friday, and is likely to factor into the Fed’s plans for lower rates. Ahead of that, the Consumer Board consumer confidence index for September is due later in the session.
Boeing sweetens its labor deal, Visa in DoJ lawsuit
In the corporate sector, Boeing (NYSE:BA) stock fell 0.9% after the aircraft manufacturer offered a new sweetened labor deal to its more than 30,000 striking workers in the US Pacific Northwest.
The aerospace giant's latest offer includes a 30% general pay bump over four years as well as improvement in retirement benefits and an increased ratification bonus if the workers accept the proposal by Friday. Boeing said it was its "best and final" offer.
Deere & Company (NYSE:DE) stock rose 0.5% despite former President Donald Trump, the Republican presidential candidate, on Monday threatened the agricultural manufacturer with a "200% tariff" if it moves some production to factories in Mexico.
S&P 500: Sustained Breakout Could Target 5,800 - But Watch Out for Early Weakness
This week’s spotlight fell on the Fed’s decision to cut interest rates, a move that sparked volatility. The Fed announced a 50 basis point reduction, aligning with market expectations that had recently shifted toward a larger cut.
Following the announcement, markets responded positively, and the S&P 500 soared to new all-time highs. The index now trades around 5,700, marking the end of the previous correction and making way for a potential new uptrend.
This positive momentum suggests that further gains are likely in the short term, with a key target around the psychological level of 5,800 points. If a minor correction occurs, the former peaks will serve as critical support for maintaining the uptrend.
Nasdaq 100 to Follow Suit With S&P 500?
Meanwhile, the Nasdaq 100 is rebounding from a more pronounced correction. It was confidently approaching historical highs near 21,000 points, but the momentum seems to have waned.
The recent surge enabled the Nasdaq 100 to surpass the psychological barrier of 20,000 momentarily during yesterday's trading session, signaling strong demand. But as of now, the futures are pointing towards a weak start for the index.
The current consolidation just below this level offers an ideal opportunity for buyers to enter.
DAX: Bulls in Control
With the DAX bulls currently in control, a consolidation above 19,000 points would set the stage for a realistic target of 20,000 points.
Daily sharing notes:
Congratulations to everyone! All members were great for keeping up
with today's trading. You have seized the opportunity in the market
and successfully took profits. Tomorrow's trading is even more exciting. With the Federal Reserve's
interest rate decision about to be announced, the wave of wealth is
about to rise again. Here, on behalf of Polar Capital, I wish all
members to ride the tailwind and earn more wealth!
Important notice!
⏰ Less than 24 hours until the Fed’s interest rate decision is
announced! ⏳
This is the biggest wealth opportunity since March 2020, don’t miss
it!
Tomorrow at 3 pm, the trading time will officially begin! At this
important moment, market fluctuations will bring huge
opportunities, and it is expected to help everyone earn more than
150% of the profit!
Why seize this opportunity?
The market is volatile and the profit is large
Professional team provides real-time guidance and steady profits
This is the last opportunity this year to take advantage of the drastic
market conditions brought about by major economic decisions
How to participate?
Contact your trader in advance to make an appointment to ensure
timely participation
Execute according to the trading instructions to ensure maximum
profit
Please be prepared in advance. At 3 o'clock tomorrow, the
opportunity for wealth belongs to shape and the ones who take
initiatives!
Seize it and win your 150% profit!
Urgent Notice!
⏰There is the last minute left before the Federal Reserve’s interest
rate decision is announced, and the opportunity is just around the
corner! All members must contact your exclusive trader in enroll
tonight to ensure that you can seize this excellent market
opportunity without any mistakes!
Key reminders:
Free customization of personal trading plans! Every member can
ask the trader for free to develop a custom-made trading plan based
on your account assets and trading habits. This will not only help
seize the current market opportunities, but also lay a solid
foundation for the market layout after the future interest rate cut!
Why is it important?
*Precise customization: * Ensure that every step is in your best
interest based on your assets and trading habits. *Future foresight: *Prepare for market valitility caused by future
interest rate cuts in advance, seize the opportunity, and make more
profit. *Free benefits: *All members can enjoy this benefit, without any VIP
level requirements!
⏳ *Action is urgent! *Contact your trader as soon as possible and ask
them to develop a customized trading plan for you to ensure that
you can maximize your profits in tomorrow's market opportunities!
After making a trading plan, remember to go to bed early and be
fully prepared for tomorrow's Federal Reserve interest rate decision. I
look forward to welcoming this exciting moment with you! Good
night, sleep well tonight, and make a lot of money tomorrow!
Daily sharing notes:
The S&P 500 eked out a slight gain in a subdued session while the
Nasdaq fell on Monday, weighed down by a drop in technology
stocks as investors assessed the likelihood of an upsized rate cut
from the U.S. Federal Reserve this week. The S&P technology index, the best performer of the 11 major S&P
sectors this year, lost 0.95% as the session's biggest decliner. From the short-term perspective , the S&P 500 is still in a mild rise
today. What needs to be noted is the previous high of 5669. This
price area will definitely be under resistance. If the index price falls
back at a high level, the important support of the 5580-5500 range
can be observed below. This position can also serve as a buffer for
price increases to continue to accumulate bullish energy to help the
market to break through. If the price stops the decline here, the
probability of breaking through the upper high will reach 75%.
This week, on September 18, the Federal Open Market Committee
will meet and is expected to make a decision on lowering interest
rates. According to CME FEDWATCH data, there is currently a 63%
chance of a 50 basis point rate cut, while there is a 37% chance of a 25
basis point rate cut. The expectation of multiple rate cuts announced by the Federal
Reserve earlier this year was one of the main drivers of the surge in
Bitcoin prices this year. On Friday, the price of Bitcoin, the world's
flagship cryptocurrency, rose by nearly 5%, bringing BTC back to the
$60,000 price level.
Bitcoin fell 2.13% on the day before the key Fed meeting, from
$60,000 to the $57,873 area, where Bitcoin is still changing hands as
of the time of writing. From the current situation, market investors are cautious, so there is
a suppression of the bull market, which is itself caused by market
investment sentiment. Because we observe that a large amount of
funds are constantly flowing in, this is the most powerful bullish
evidence. There is a risk of a price pullback in the short term, but investors can
continue to maintain a bullish attitude, observe the support of the
56181-53570 range below, and keep the buy-on-dip strategy
unchanged. If other bullish scenarios emerge, the upcoming Fed rate
cut may continue the Bitcoin rally and rise to higher levels this year.
The market trend still needs to wait for the final implementation of
key events, them we will better formulate trading strategies. Just like
the opportunity of interest rate cuts in 2020, many investors made
their first pot of gold. In 2024, opportunities in the market may bring
the same innovative changes. Here, on behalf of Polar Capital, I wish
all members will seize the biggest wealth opportunity in the past two
and a half years and achieve huge returns on investment!
Next, we will enter the topic of tonight. We all know that inflation is
often accompanied by the Fed's interest rate cuts. Although the Fed
has worked hard to control inflation, it is still unknown whether
inflation can continue to be controlled after the rate cuts.
If there is an unexpected surge in inflation during the rate cut cycle, Bitcoin, known as "digital gold", may benefit greatly. Bitcoin has a
fixed supply and a decreasing issuing rate, making it scarce and
inflation-resistant. As facing currencies depreciate, the value of
Bitcoin tends to rise. Historically, Bitcoin has soared after each halving event, which may
be due to its enhanced inflation resistance.
To enter a bull market, one rate cut may not be enough, because the
market may need to digest this impact. Key factors to pay attention
to include:
A. Rate cut: Will interest rates fall quickly?
B. Reasons for rate cuts: Will the recession force the Fed to tolerate
higher inflation?
C. Post-election regulatory changes, on-chain fundamentals, etc.
If the next round of Bitcoin bull market really comes, how high will
the price rise? The following figure reviews the historical price
increase of Bitcoin:
Historical data shows that the early bull market of Bitcoin saw
amazing gains, but the returns of each subsequent bull market have
been decreasing. As the market size of Bitcoin continues to expand, more capital needs to be invested to achieve the same percentage of
returns, and this trend may continue.
In addition, many members contacted me privately today to ask
about how they have prepared a lot of funds to join the VIP level
recently, but they don’t know how to make a better investment plan
for the next trading events. Regarding this issue, I notified everyone
last week that they can contact Polar Capital trader to help everyone
develop an investment plan based on their investment habits and
amount. The sooner you improve your trading plan, the more helpful it will be
for the next investment, because we still need to continuously
improve our trading strategies in the next transactions, and only
after continuous improvement can we achieve the most perfect state. Tonight's sharing has come to an end. If you have any questions
about tonight's sharing, you can contact me through my assistant at
any time. I remind all members again that they must be fully
prepared in the last two days, so that we can have the confidence to
deal with the biggest investment event in 2024. Once missed, according to our calculations, the next Fed rate cut may be 3-5 years
later. It is very necessary for all traders to make the next investment
plan
Daily sharing notes:
Good evening, everyone! I am Orson Merrick, Chief Analyst at Polar
Capital. It is time for the daily market review again. Today our theme
is “What is the role of the 60-day profit plan?” As there are not too
many members coming now,let’s go over the market first. Today's
market is like a roller coaster, which makes many investors feel
uneasy. Next, we will analyze the future trend for you based on the
current market performance. The S&P 500 cut losses Wednesday, as an Nvidia-led rally in tech
offset falling bets on a jumbo-sized Federal Reserve interest rate cut
next week after data showed core inflation ticked higher last month. Nvidia's surge has boosted other chip stocks and the overall tech
sector as the U.S. government considers whether to lift a ban on the
chipmaker's export of advanced chips to Saudi Arabia. Yesterday's single-needle bottoming of the S&P 500 has shown that
prices are technically in a strong position. And today's decline is
mainly caused by market sentiment. Through our analysis, as long as
the price can maintain above 50% of the Gann angle line, it is
expected to rise. Therefore, investors are advised to maintain a
bullish attitude at the current low, especially when the RSI indicator
breaks through 50, if it continues to cross the line, the chance of
breaking through the previous high of 5700 will be greatly increased.
Bitcoin prices have recovered last week’s losses as ETF flows snap an
8 day streak of outflows. On September 10, there was a substantial
increase in inflows, reaching $116.96 million, which is more than four
times the $37.29 million recorded the day before. According to Chainalysis, spot Bitcoin ETFs have pushed global
crypto trading volumes to unprecedented levels. The launch of
Bitcoin ETFs in the United States triggered an increase in the total
value of Bitcoin activity across all regions, meaning that a major
milestone reached during the 2021 bull run has been surpassed. Bitcoin fell to the psychological level of 55,000 today before
rebounding sharply and breaking the support level of 56,500. Today's daily close is crucial and may provide some reference for
tomorrow's trend. The bullish close makes the daily close a hammer, suggesting further gains tomorrow. If there is one thing that has
become clear recently, it is that range trading remains very active as
market participants bide their time. Therefore, our strategy of buying
on dips in BTC is correct and continues to remain unchanged.
The Fed's interest rate cut has a positive impact on the
cryptocurrency market because it will reduce returns in traditional
financial markets, thereby driving funds to alternative investments
such as cryptocurrencies. This is an important reason why market
investors are waiting for interest rate cuts. You can digest the above analysis carefully. If you have any questions, you can contact me through my assistant at any time. My team and I
will provide you with detailed strategic answers. Next, we move on to the third topic of today. As everyone knows, this
60-day profit plan is not only to attract more new members to
increase the number of customers and assets, but more importantly
to increase our chances of winning the conditional agreement. Once
Polar Capital successfully controls 45% of the shares of Bit Treasury
Exchange, we will be able to launch our own ETF index fund on this
platform.
In fact, as a traditional fund company, Polar Capital will definitely
issue its own fund products in the future. We hope to help everyone
earn more profits through this opportunity. Only by demonstrating
our investment capabilities and stable profit capabilities can we make
members more confident in buying our fund products in the future. Bit Treasury Exchange also have NFA and related certificates, mainly
to increase investment protection measures. In the future, some
futures financial derivatives may be listed. The most important thing
should be to increase the credibility of the market. Please feel free
to check it out.
US stocks open higher following biggest weekly sell-off in more than a year
https://t.co/AJR2RLhyNq -- US stocks opened higher on Monday, as equities on Wall Street rebounded after slumping in the prior session following an August jobs report that left traders uncertain about the size of potential Federal Reserve interest rate cuts.
By 09:40 ET (13:40 GMT), the Dow futures contract had gained 247 points or 0.6%, S&P 500 futures had increased by 46 points or 0.9%, and Nasdaq 100 futures had risen by 178 points or 1.1%.
"We don’t think the rally is being spurred by any specific news items out since the Fri[day] close but instead some (modest) dip buying driven in large part by oversold conditions and monetary support anticipation," analysts at Vital Knowledge said in a note to clients.
The main averages on Wall Street slipped on Friday after nonfarm payrolls figures for August showed continued slowing in the US labor market, fueling concerns over the broader economy and all but guaranteeing that the Fed will slash borrowing costs at its next two-day gathering from Sept. 17-18.
For the week, the benchmark S&P 500 and 30-stock Dow Jones Industrial Average both posted their largest weekly drops since March 2023, while the tech-heavy Nasdaq Composite logged its biggest dip since January 2022.
Potential Fed rate cut in focus
Investors' bets that the Fed will bring down rates by 25-basis points stood at 73% on Monday morning, according to the CME Group's (NASDAQ:CME) closely-monitored FedWatch Tool.
The odds underline the ongoing uncertainty around how the central bank will react to the jobs report.
On Friday, Fed Governor Christopher Waller said "the time has come" for the Fed to decrease rates, but he remained open-minded about the depth and pace of the cuts.
Boeing shares jump after tentative union agreement reached
Shares in Boeing (NYSE:BA) rose on Monday after it tentatively agreed to a 25% pay increase for its biggest union, possibly averting a damaging strike that threatens to heap further pressure on the embattled planemaker.
Along with the wage bump, the proposed four-year deal would also include a committment to build a new plane in the US Pacific Northwest, improved retirement benefits and an increase to the union's input into jet quality.
Union leadership, who represent over 30,000 workers, have recommended that members support back the agreement. However, if it is rejected and two-thirds vote to go on strike, the workers could stage a walkout at midnight on Friday.
A labor action would likely ratchet up scrutiny on new Boeing Chief Executive Kelly Ortberg, who is currently attempting to improve the company's finances and rebuild its reputation after dangerous mid-air door plug breach in January.
Elsewhere, shares in crypto-related stocks like digital coin exchange Coinbase (NASDAQ:COIN) and crypto miners Cleanspark (NASDAQ:CLSK) and Marathon Digital (NASDAQ:MARA) advanced. The price of Bitcoin, the world's most well-known digital token, increased on Monday, extending its drive higher into a third-consecutive day.
Oil prices pare back gains
Oil prices reversed earlier gains notched on Monday as traders eyed the impact of a possible hurricane off the US Gulf Coast and gauged the market reaction to last week's nonfarm payrolls report.
Meanwhile, the probability of a 50-basis point cut stood at 27% after briefly jumping above 50% in the immediate wake of the jobs data.
By 09:45 ET, the Brent contract had dipped by 0.3% to $70.83 per barrel, while U.S. crude futures (WTI) were trading down by 0.3% at $67.44 a barrel. Brent had fallen by 10% at Friday's close to its lowest level since December 2021, while WTI had decreased to its lowest mark since June 2023, according to Reuters.
The US National Hurricane Center said over the weekend that a weather system in Gulf of Mexico is projected to turn into a hurricane prior to hitting the northwestern US Gulf Coast -- a crucial region for American refining capacity.
Elsewhere, the prospect of lower interest rates also helped support crude. In theory, a dip in borrowing costs could bolster economic activity and spur an uptick in oil demand.
However, executives at global commodity traders Gunvor and Trafigura told the Asia Pacific Petroleum Conference in Singapore that oil prices could trade in a range of $60 to $70 due in part to ongoing tepid demand in top oil importer China.
Daily sharing notes: On Wednesday, the S&P 500 ended lower after spending the morningflitting between red and green as investors waited anxiously for more economic data. Thursday will bring a reading on the U.S. services industry with jobless claims data. I believe many members have already discovered that the S&P 500 has shown an obvious double top pattern since its high of 5666 points. Objectively speaking, it can be declared that the index price will fall deeply in the future, but why don't we give an accurate answer? The main reason is that there is an important support level of 5399 points below. In order to consider that the release of important macro data this week will have an impact on the development of the market in the future, and the changes in market conditions and investment sentiment are volatile, we have to continue to maintain the previous investment strategy before the shoe drops. If the level 5399 can be held from the decline, a new upward pattern will appear, which will boost the future stock market. On the contrary, when the price falls below 5399, the double top pattern will be established and the market will enter a deep decline again. Friday's highly anticipated August report for nonfarm payrolls is expected to provide the clearest clues as to the health of the U.S. economy and whether the Federal Reserve will cut interest rates this month by a quarter or a half of a percentage point. In an article on X, CNBC cryptocurrency trader and analyst Ran Neuner reminded the financial community that the US stock market has recently lost a hefty $1.05 trillion. It is worth noting that even Nasdaq's technology stocks have been affected by market fluctuations. From a graphical point of view, BTC and the S&P 500 index have completely opposite trends. From a technical point of view, BTC's price will show a double bottom pattern. Although it has fallen back at present, it has also walked out of the "single needle bottoming" rising candlestick. At the same time, the double bottom pattern will bring better help to future price increases. Therefore, we have always believed that investors can appropriately start to arrange long position at the bottom. Once the future market completes the cup handle pattern, it will bring more profit space. Members can give it a little to digest the analysis. Whether from a technical or macro perspective, we must formulate trading plans in line with our investment strategies. I may only play a supporting role. As Polar Capital, we are responsible for providing investors with more professional investment advice. But the real investment decisions still lies within you. Whether it is an investment plan in the stock or the cryptocurrency market, it must meet the above conditions before trading to better control investment risks. Thank you very much for your blessings. The partnership between Polar Capital and Bit Treasury was negotiated and finalized by the headquarters company. I just played an assisting role. Since we are talking about cooperation, tonight we will tell you how the common interest between Polar Capital, Bit Treasury and members was established. Many old members know that due to the significant impact of the British government's bankruptcy on local companies, we decided to expand to the US market this year. This strategy aims to provide more professional financial services and investment benefits to attract more investors to join our big family. I took the initiative to take charge of Polar Capital's entry into the US market, and after successfully entering the US, I will serve as the general manager of the US branch. Our partnership with Bit Treasury is inseparable from the support of all members. The successful entry of Polar Capital into the US market depends on us achieving sufficient market share to better plan the company's development and launch related funds. Bit Treasury is the sponsor and platform for the trades. Members will pay a transaction fee of 0.6% every time they buy and sell cryptocurrencies at Bit Treasury. By partnering with Polar Capital, Bit Treasury can attract more trading volume and share part of the transaction fees with Polar Capital as mutual benefits. At the same time, in order to give everyone better profit opportunities, Bit Treasury provides professional account support, and Polar Capital invites senior traders of the company to guide everyone, helping everyone to reduce investment risks and obtain more profits. I will share more money-making opportunities after this trading event in the live broadcast at 8:00 EST tomorrow night. Due to the limited time today, in order not to delay anyone's rest, please contact my assistant after the class to register for tomorrow night's broadcast, and contact your trader to register for the las
Good morning, everyone! Yesterday, we celebrated Mr. Merrick’s birthday. It was such a great party filled with laughter and pleasant memories. We hope Mr. Merrick will continue to guide us, and we wish him great success in the new year.
Daily sharing notes: In order to ensure the security and confidentiality of trading activities, our traders have signed a strict confidentiality agreement with the headquarter. Therefore, the identity, background, and other relevant information of the traders are highly confidential. In order to safeguard the interests of all parties and protect information security, we kindly ask everyone to understand and abide by the regulations and not to ask or disseminate personal information about the traders. Wepromise to do our best to provide you with professional services and guidance to ensure the security of your information and funds during the transaction. Thank you for your understanding and support. If you have any questions, please feel free to contact your trader or myassistant, we will do our best to help you. Thank you everyone! Polar Capital In addition, it is necessary to inform everyone, traders work very hard. Due to the special reasons of their work, traders do not have fixed holiday or rest time. Even on Christmas Day, as long as there is trading in the market, they must work at their posts. So in the next three days, although most of our investment team are onleave, traders will not stop working and lead everyone to continue trading. Members who need to participate in guided trading on weekends, please make an appointment with your Polar Trader in advance tonight. This is the end of the trading guidance tonight. Due to time constraints, I will not bring you the market summary and analysis today. On behalf of Polar Capital, I would like to thank everyone for the support. We will look forward to the opening bell next week. At the same time, on behalf of Polar Capital, I wish you all a wonderful Labor Day weekend! Members who want to participate in the weekend trading guidance, please contact Polar Capital Trader to make an appointment after the sharing tonight
📢 📢 📢 Important reminder:
Tonight at 8 o'clock, Mr. Merrick will lead members for an exclusive trading session, follow by the 7-day guided trade event officially kicking off! This is a once-in-a-lifetime opportunity to help you seize the opportunity in the market and maximize profit. Your last chance to register for tonight’s trading event will be one hour before the trade. All members must hurry up and contact your Polar Capital trader for the final appointment to ensure you will participate in this professional guidance!
1. Polar Capital: 7-day trading guidance event officially kick off!
2. S&P 500: Key levels to watch as indexes see positive start to the session
3. Bitcoin: Rebound in the offing at key support levels?