🇺🇸 U.S. Jobless Claims Slightly Better Than Expected Init | Cas Abbé on Binance Square

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🇺🇸 U.S. Jobless Claims Slightly Better Than Expected
Initial jobless claims came in at 245k vs the expected 246k
A minor beat but still signals ongoing weakness in the labor market

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Bitcoin OBV is still in an uptrend. $BTC price is consolidating, but On-Balance Volume (OBV) is still making higher highs. For those who don't know, rising OBV indicates buying pressure. If OBV continues to go up, BTC will eventually break out of its consolidation range. I'm still convinced that $130K-$135K BTC will happen in Q3 2025.

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The U.S. just passed a major crypto bill and barely anyone is talking about it. It’s called the GENIUS Act, and it’s the first proper federal law focused on stablecoins. This could change how stablecoins like $USDC and $USDT operate in the U.S. completely. Under this new law, only licensed banks or fintechs will be allowed to issue payment stablecoins. And they’ll need to hold 100% reserves in cash or short-term Treasuries. They’ll also need to publish monthly audits, follow AML/KYC rules, and give users priority in bankruptcy. This gives a huge edge to #USDC, #Circle, and any U.S.-based player willing to play by the rules. At the same time, this could pressure offshore options like $USDT, which has always operated in a grey zone. The GENIUS Act also opens the door for big banks and even tech giants to issue their own stablecoins. Think JPMorgan or Apple-backed digital dollars. From a data standpoint, stablecoins are now too big to ignore. Over $150B is circulating. $USDT alone sees more volume than Visa on some days. With this law, stablecoins become more trustworthy, and the path to institutional adoption becomes clearer. But it’s not all bullish. Smaller crypto-native projects might get locked out. DeFi protocols could struggle to comply. And power could shift back toward traditional finance. Still, this is a big step toward integrating stablecoins into the U.S. financial system. The real impact will be felt in the next 6 to 12 months once implementation starts. If you're holding stables or building in crypto, this law changes the game.

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Volatility Alert 🚨 FOMC rate change decision will happen today at 2PM ET. The market is expecting no rate changes, and most certainly no rate change will happen. But the most important thing will be Powell Press Conference. If he hints towards Q3 rate cuts, expect a reversal.

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BIG DAY FOR MARKETS 🚨 ▸ 11:00 PM PKT: Rate decision, projections & statement ▸ 11:30 PM PKT: Powell speaks Markets will move not just on the decision, but on the expectations Powell sets Stay sharp.

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🚨: BlackRock ETF wallets just recorded major inflows → 600 $BTC ($88M) → 6,053 $ETH ($15.4M) The accumulation game is getting louder

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