🔥 NEW: Michael Saylor says that on-chain proof of reserves is a bad idea and exposes users and institutions to cyber attacks and data breaches. The strategy will not reveal wallets and will opt for traditional audits.
🔥LATEST🔥
💥Economic DATA from this week is starting to arrive. #Bitcoin and the SP500 react to the RISE
👉Consumer CONFIDENCE came in WAY ABOVE expectations, surpassing expert predictions by 2 digits.
What does this mean
▪️Consumer confidence rose from 87.1 to 98 while a DECLINE to 85.7 was expected.
▪️This data measures how households feel about the economy, employment, and their finances.
▪️A high figure implies that people are more willing to spend, which usually boosts consumption and thus economic growth.
Why does it matter
🔸It may indicate that the economy is stronger than previously thought, which reduces recession fears.
🔸Markets interpret it as a positive signal:
🔸The SP500 rises due to expectations of higher corporate earnings
🔸As for Bitcoin, it rises because a confident consumer may imply more liquidity and risk appetite, favoring assets like BTC.
📍Moreover, this data had been FALLING month by month since NOVEMBER 2024, today marked the first INCREASE in 7 MONTHS
📍This data, which comes despite the TARIFFS, FAVORS financial markets and BREAKS its bearish trend
