🔸The crypto market quickly recovered after comments from Federal Reserve Chairman Jerome Powell. Bitcoin (BTC) rose from $116,000 to $118,500, and other cryptos like Ether (ETH) and XRP followed suit. Even smaller coins had a great day!
What Are We Looking For Now?
Although there is euphoria in the air (similar to previous Bitcoin records and with the potential for Ether to reach $4,900!), we need a "push" for Bitcoin to surpass $120,000. A recent report from the U.S. government did not provide the expected clarity, but the amount of Ether in the Ethena protocol reached a record $8.6 billion, an excellent sign!
Key Updates
Invesco and Galaxy Digital proposed a Solana (SOL) ETF to the SEC, which would facilitate investment. Additionally, Jupiter (a Solana exchange) launched Verify4 to make token verification faster and clearer.
Quick Look at Other Markets
The dollar remains strong, and copper saw a significant drop due to changes in tariffs.