🇺🇸Independence Day, USA

Wall Street Goes for the Weekend

Today, the USA celebrates Independence Day. Officially, this is a public holiday, and today marks the beginning of a 3-day weekend, during which American financial markets are closed. Volatility in the market is likely to decrease today, and there is a risk of price pullback following the recent rise.

U.S. Treasury Secretary Scott Bessent stated that there are many deserving candidates being considered for the position of the Federal Reserve Chair, and this issue is planned to be discussed in detail this fall. He also noted that the interest rate is currently at a high level. If the Federal Reserve does not lower rates in July, a more significant reduction may be necessary in September.

The U.S. House of Representatives has declared July 14-18 as "Cryptocurrency Week." This is linked to the passage of two laws aimed at regulating stablecoins and cryptocurrencies.

Yesterday, Tether issued USDT worth $1 billion; the increase in stablecoins is a green light for the crypto market.

After breaking $110,000, about 99% of all Bitcoin holders remain in profit.

Atabegane | Azam