The world is experiencing a "super central bank week" again, and Powell is about to hold a monetary policy press conference
Dudley, former chairman of the New York Fed, said that the Fed has reason to cut interest rates by 50 basis points this week. The Fed is currently facing two options: a 50 or 25 basis point cut. The market predicts that the probability of these two options is "50-50". The following major events are expected to occur this week: Tuesday at 20:30, the United States will announce the August retail sales monthly rate; Wednesday at 14:00, the United Kingdom will announce the August consumer price index and retail price index; Thursday at 2:00, the Federal Reserve will announce the interest rate decision and economic forecast summary; Thursday at 2:30, Federal Reserve Chairman Powell will hold a monetary policy press conference; Thursday at 20:30, the United States will announce the number of initial jobless claims and the Philadelphia Fed manufacturing index for the week; Friday at 11:00, the Bank of Japan will announce the interest rate decision; Friday at 14:30, Bank of Japan Governor Kazuo Ueda will hold a monetary policy press conference.
Bitcoin price volatility could trigger hundreds of millions of dollars in liquidations
On September 15, Coinglass data showed that if the price of Bitcoin rebounds above $62,000, the total amount of short liquidations accumulated on mainstream exchanges could be as high as $815 million. On the contrary, if Bitcoin falls below $58,000, the long liquidations on mainstream exchanges could reach $773 million.
The cryptocurrency industry is entering the institutional era
Starting with Bitcoin ETF, the cryptocurrency industry is entering the institutional era. This shift shows that the dominant logic of the cryptocurrency market is changing. From past experience, the traditional stock market is mostly dominated by institutional investors, while the cryptocurrency market is driven by retail investors. This trend has undergone new changes.
The number of addresses holding the top ten stablecoins exceeded 8.7 million, of which the number of addresses holding USDT exceeded 5.8 million.
According to the Coingecko report, the top ten stablecoin holding addresses total 8.7 million, with USDT, USDC , and DAI accounting for 97.1% together. USDT is far ahead with more than 5.8 million holding addresses, about 2.6 times that of its competitor USDC. The number of USDC holding addresses is about 2.2 million.
Early U.S. Bitcoin Investors Could Face Jail for Lying on Taxes
The U.S. Department of Justice announced that Texas resident Frank Richard Ahlgren III pleaded guilty to filing a tax return that falsely reported his cryptocurrency gains, underreporting $3.7 million in Bitcoin capital gains. Ahlgren, who bought 1,366 Bitcoins in 2015 for less than $500 each and sold 640 for $3.7 million in 2017, could face up to three years in prison, as well as a period of supervised release, restitution and a fine.
Households' electricity bills soar after Norwegian town bans Bitcoin mining
Dennis Porter, co-founder of Satoshi Action Fund, tweeted that a small town in Norway banned Bitcoin mining, which caused the electricity bill for household electricity to soar to $300, an increase of more than 25%. The ban reduced electricity demand, forcing power companies to raise electricity prices for residents and small businesses to make up for the revenue gap caused by the withdrawal of crypto mining companies. Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or official views of FameEX.
