Weekly Economic Calendar
| Date | Time | Currency | Event | Expectation | Previous Month Announced Data |
|---|---|---|---|---|---|
| September 23, Monday | BTC | U.S. House of Representatives Committee to hold cryptocurrency sessions | |||
| September 26, Thursday | 15:30 | USD | U.S. Gross Domestic Product (GDP) (Quarterly) (Q2) | 3.0% | 1.4% |
| September 26, Thursday | 16:20 | USD | Speech by Fed Chairman Powell |
Bitcoin and Cryptocurrencies Rise After Fed Rate Cut
The Federal Reserve (Fed) has cut interest rates by half a percentage point for the first time in over four years, and this decision triggered a market rally for Bitcoin and other cryptocurrencies. Following the rate cut, the cryptocurrency markets showed a strong upward movement.
Performance of Bitcoin and Cryptocurrencies
According to Coin Metrics data, the price of Bitcoin increased by 5%, rising above the $63,000 level. This increase is based on an upward trend that began before the Fed’s rate cut decision. Bitcoin experienced a sharp rise immediately after the Fed’s decision on Wednesday; however, prices partially pulled back as investors digested the news. Cryptocurrencies, like stocks, are sensitive to economic news and can show volatility following actions such as rate cuts. This positive effect on the crypto market following the rate cut has increased investors’ interest in digital assets like Bitcoin.
Eski ABD Başkanı ve 2024 Cumhuriyetçi başkan adayı Donald Trump, New York’taki bir Bitcoin barı olan Pubkey‘de Bitcoin ile ödeme yaparak kripto parayı bir işlemde kullanan ilk eski ABD başkanı oldu. Trump, 18 Eylül’de ünlü bar ve restoranda yaptığı bu işlemle, kripto dünyasında dikkatleri üzerine çekti.
Bu olay, kripto paraların gerçek hayatta kullanımına yönelik önemli bir adım olarak değerlendiriliyor. Trump’ın Bitcoin ile hamburger alması, kripto para dünyasında geniş yankı uyandırdı ve Bitcoin‘in günlük işlemlerde kullanımına ilişkin olumlu bir örnek teşkil etti.
Kamala Harris Makes Key Statements on Cryptocurrencies in the U.S.
The cryptocurrency world in the U.S. has gained attention following significant comments from Kamala Harris during a Wall Street fundraising event for her presidential campaign. Harris, addressing digital assets and cryptocurrencies for the first time, stated, “We will work together to strengthen America’s competitive edge and invest in the future. While supporting innovative technologies like artificial intelligence and digital assets, we will also protect our consumers and investors.”
The crypto industry had been eagerly anticipating such a stance. With Joe Biden’s cautious approach toward the crypto sector, Harris’s openness has generated excitement. Coinbase’s policy chief, Faryar Shirzad, described her remarks as “important and constructive,” pointing out that while Harris might not be as forward-thinking as Donald Trump, her recognition of digital assets alongside AI is notable.
Cryptocurrencies are playing a pivotal role in the 2024 U.S. elections. According to Public Citizen, crypto companies like Coinbase, Ripple, and Gemini have invested nearly $120 million to influence the upcoming elections. This financial backing has pushed crypto regulations and policies to the forefront of political discussions.
Though Harris’s comments were welcomed, experts like Jake Chervinsky, Variant’s head of law, expressed the need for more clarity. “While this statement is a step forward, phrases like ‘protecting our consumers and investors’ could have broad meanings. We are keen to see specific policy details.”
In contrast, Donald Trump has taken a clearer stance on cryptocurrencies, previously vowing to be a “crypto-friendly president” and announcing plans to replace SEC Chairman Gary Gensler. Both Harris and Trump’s approaches to the crypto sector are being closely watched by the industry.
According to FiveThirtyEight, the race between Harris and Trump is tight, with Harris leading by only 2.9 points in national polls as of September 22. As the election nears, both candidates are expected to provide more comprehensive details on their cryptocurrency policies.
BTC:
This week’s ITB analysis for Bitcoin shows an increase in whale activity,
with large investors continuing to accumulate BTC.
We observe that the profit ratio for Bitcoin holders this week is 87%. Whale transaction volumes have reached $87.62 billion. According to ITB analysis, the expectations are: 0 “Bearish,” 3 “Bullish,” and 4 “Neutral.”
Uzmanlık alanlarım arasında temel ve teknik analiz, portföy yönetimi, risk analizi ve pazar araştırması bulunmaktadır. Hızla değişen piyasa koşullarına uyum sağlama ve rapor üretme benim önceliklerim arasındadır. Finansal geleceğinizi şekillendirmek ve karar alma süreçlerinize değer katmak amacıyla araştırmalarımı EgeMoney platformu üzerinden sizlere sunuyorum.
