Crypto Daybook Americas is taking a two-week break starting Monday and will return on January 7th. The crypto market is currently derisking ahead of the Fed's rate decision, with expectations for a rate cut potentially impacting risk assets.
Crypto Daybook Americas will be on hiatus for two weeks starting Monday. We'll be back Jan. 7 with your regular wake-up call of what stirred the industry overnight and what's coming up in the day ahead. Wishing you and yours a wonderful holiday season! You are viewing Crypto Daybook Americas, your new morning briefing on what happened in the crypto markets overnight and what's expected during the coming day.
In the coming weeks, this daily update will replace the First Mover Americas newsletter, and arrive in your inbox at 7 a.m. ET to kickstart your morning with comprehensive insights. If you're not already subscribed, clickThe crypto market is derisking ahead of today's Fed rate decision. Everyone's buzzing about the likelihood of another rate cut that will supposedly galvanize risk-taking in the economy and financial markets. Here's the twist: The central bank is expected to signal three rate cuts for 2025, not the four it projected in September, as well as revise growth and inflation forecasts higher. No surprise, then, that bitcoin and ether are trading nearly 2% lower, driving bigger losses in small-cap tokens. Among them, Pudgy Penguins'Now, seasoned traders will tell you that when expectations lean too heavily one way, there's always room for disappointment. Put more simply, if interest rate projections stay the same or Fed Chairman Jerome Powell eases concerns about sticky inflation during his press conference while maintaining a data-dependent approach, we could see a nice bump in risk assets — cryptos included. VIRTUAL, the native coin of AI and tokenization platform Virtuals Protocol, might shine in that case, having risen 11% in Asian hours. 'AI within crypto is shaping up to be a fascinating trend, especially in social trading, where data-driven insights and automation can empower traders,' said Neal Wen, head of global business development at Kronos Researc
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