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Crypto market news highlights today
Republican presidential candidate and DeFi newcomer Donald Trump just made his first purchase using Bitcoin, and it was a hamburger. Trump stopped by PubKey Bar in New York City before a campaign rally Wednesday night at Nassau Coliseum on Longing Island, New York. “This is historic,” Trump said after making the purchase. “One of the most historic Bitcoin transactions just took place,” the bar’s X account posted. “President Donald Trump buys burger at PubKey NYC. Block Height: 861871.” Trump then handed out burgers to patrons at the bar. “This is a crypto burger,” Trump told the cheering crowd. He is known for his lavish diet and has been served McDonald’s Big Macs on silver trays in his private jet.
PubKey Bar is a Bitcoin-themed bar in Greenwich Village, New York City, known for hosting meetups and events for crypto enthusiasts. The location has been home to several popular NYU student bars and most recently a pub called Formerly Crow's. “There’s a very dedicated and passionate group that doesn’t have many places to go in New York City,” Thomas Pacchia, one of the co-owners and former head of blockchain incubation at Fidelity Investments, Chia Eater NY in 2022. “If you’re new and curious … Twitter and Reddit are bad places to learn because you’re going to get sucked into these chaotic conversations.”
Trump’s stance on crypto has shifted this year, starting in May when his campaign began accepting crypto as a form of donation. He has since said he wants to make the United States the “crypto capital” of the world. Earlier this week, he officially launched World Liberty Financial, a DeFi project his sons have worked on. The project will sell a non-transferable Governance Token called WLFI to accredited investors.
Bitcoin BingX Chart
Bitcoin 1D Chart 09/19/2024 | Source: TradingView & BingX
Bitcoin price surged above $61,000 after the U.S. Federal Reserve decided to cut interest rates by 50 basis points. The Fed’s decision to cut interest rates for the first time since 2020 was a move that was long anticipated by crypto traders, and most expected Bitcoin and the broader crypto market to benefit from the policy change. Data from Cointelegraph Markets Pro and TradingView shows Bitcoin’s price action following the rate cut decision, even as the market awaited accompanying comments from Fed Chairman Jerome Powell.
The Federal Open Market Committee (FOMC) took the drastic step of cutting interest rates by half a point, the first since the early days of the COVID-19 pandemic in 2020, in an effort to stem the deterioration in the labor market. “The committee seeks to achieve maximum employment and inflation at 2% over the longer term,” the press release said. Investors had been eagerly anticipating the move, with a majority of investors seeing a 100% chance of a rate cut of between 0.25% and 0.50%, according to data from the CME Group’s FedWatch tool.
BTC 's current support level is $60,000 and resistance level is $63,500 .
