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Plus: Ledger wants you to stop calling it a hardware wallet |
It's one of those days where the crypto market feels like it chugged a Monster on an empty stomach. (Do NOT try this at home, btw.) So, why's everything greener in the charts? Well, the US CPI report dropped today: inflation's at 3.0%, just below the 3.1% economists expected. Which, sure, doesn't sound like much, but it still might mean that interest rate cuts could be on the table.
And because rate cuts are bullish for crypto, that was all traders needed to light the match: 👉 Bitcoin jumped ~3% in an hour and touched $112K on Binance before cooling off; 👉 Ethereum tagged $3.9K right behind it; 👉 Shorts got roasted - over $85M in liquidations in the past day; 👉 And the total crypto market cap increased to $3.7T.
Now, that would've been plenty of juice for one day… but the universe decided to add a little more drama 👀 Is Mercury in Gatorade, or whatever the astrology girlies call it? Ex-Binance boss Changpeng Zhao - aka CZ, aka the guy who pleaded guilty to compliance violations and spent four months in prison - got a presidential pardon. And the crypto world lost its collective mind. People started wondering whether he'd come back to Binance. While there's no official word on that, that still made BNB pop off:
So yeah, today's vibe is risk-on. Now we gotta wait for the Fed meeting next week: 👉 If we actually get a rate cut, this rally could grow some legs; 👉 But if Jerome Powell so much as flinches the wrong way, things could go wrong again. Until then, let's enjoy the hopium while it lasts, y’all.
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