Good morning!!!
* The week that many consider the MOST IMPORTANT of the year has begun.
Tuesday:
- Consumer confidence from The Conference Board.
A growth of 95.9 is expected, previously 93.
- JOLTS job openings survey.
7.490M is expected, previously 7.769M.
Wednesday:
- ADP non-farm employment change.
82K is expected, previously -33K.
- Q2 GDP.
A growth of 2.4% is expected, previously -0.5%.
- Rate decision and press conference with Powell.
The interest rate is expected to remain unchanged.
- White House report on crypto.
Thursday:
- Monthly PCE inflation.
A 0.3% is expected, previously 0.2%.
Friday:
- Labor report.
- Manufacturing PMI.
It is expected to remain at 49.5.
What is the most important thing about all this?
Without a doubt, Wednesday is the defining day. The combination of Q2 GDP (which if it grows would avoid RECESSION) with the rate decision ensures volatility.
The best for financial markets would be for GDP to GROW as expected and for Powell to confirm the 2 cuts this year that investors are anticipating.
For those cuts to happen, it is key that the PCE comes in lower than expected.
Also, economic data, such as the PMI or consumer confidence, is data that, if good, could favor Bitcoin, crypto, and stocks.
* The White House HAS CONFIRMED that the first OFFICIAL report on Bitcoin and cryptocurrencies will be published on Wednesday.
* Mill City Ventures III has announced a private placement of $450 million to launch a corporate treasury strategy of $SUI
* Let's remember that Powell stated that Bitcoin is "like digital gold."
Powell calling $BTC "digital gold" is the biggest INSTITUTIONAL VALIDATION of all.
* Nearly a billion dollars in Ethereum SHORTS will be liquidated if $ETH reaches $4,000.
* 21Shares has filed with the SEC for the creation of a spot ETF for ONDO. #ONDO
The cryptocurrency of the protocol backed by BlackRock seems to have its #ETF
* ARK Invest, led by Cathie Wood, has announced a partnership with SOL Strategies.
* ONE SOLE MINER has successfully mined a block of #bitcoin earning the crazy sum of 3,164 BTC worth over $375,000.
* OKX claims to be the first global cryptocurrency exchange platform to launch regulated derivative products for retail traders in the UAE.
* Plasma, a blockchain focused on stablecoins, has closed its public token sale with an investment commitment of $373 million.
* Interactive Brokers is considering launching a stablecoin.
* The co-founder of #Solana , Anatoly Yakovenko, stated in a Twitter debate on Sunday that "memecoins and NFTs are digital garbage."
* PayPal launched "Pay with cryptocurrencies," allowing U.S. merchants to accept over 100 cryptocurrencies.
* According to Spot On Chain, Tether issued $1 billion in USDT on Tron today.
* Bloomberg reports that Trump Media & Technology Group (TMTG) has invested $300 million in a Bitcoin-linked options strategy.
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