FameEX Morning Crypto News Recap | December 9, 2024

The Fed Enters Quiet Period Ahead of Upcoming CPI Data Release

November's non-farm payrolls beat expectations but lacked the strength to prevent a likely Fed rate cut this month. With a 90% probability of a 25-basis-point cut, November's CPI data could alter expectations, influencing market sentiment and crypto asset price fluctuations.

Trump Confirms No Intentions to Ask Powell to Step Down as Fed Chairman

President-elect Donald Trump announced on NBC that he has no plans to replace Federal Reserve Chairman Jerome Powell after assuming office in January, emphasizing that Powell likely wouldn’t resign even if requested, solidifying Trump’s decision against seeking a replacement.

Study Suggests Bitcoin to Stay Range-Bound in the Short Term

CryptoQuant's analysis indicates Bitcoin will stay range-bound, with the 14-day volatility index (CI) at 56.7, its highest since mid-August. Analyst Percival highlights that higher CI values suggest increased market volatility, while lower values point to clearer upward or downward trends.

Altcoin Season Begins, Projected to Continue Until March Next Year

Anonymous trader MilkyBull Crypto forecasts that the altcoin season has started and will last approximately 90 days until March. Bitcoin's market share, a key indicator, has fallen to 55.11%, decreasing by 7.88% over the past 30 days, as reported by TradingView data.

Survey Finds 25% of US Entrepreneurs Back Cryptocurrency Loans

A survey shows 25% of American entrepreneurs support starting businesses with cryptocurrency loans, with 10% of companies likely to prefer crypto loans next year. Nearly 10% of business owners are considering paying salaries in cryptocurrency, and 30% of employees favor this payment method.

NFT Market Sales Climb to $196.2 Million This Week, Marking a 34.23% Increase

CryptoSlam reports NFT market sales hit $196.2 million this week, up 34.23% from $146.5 million last week. NFT buyers rose 20.29% to 693,833, sellers increased 15.97% to 402,069, while transactions slightly dropped 1.92% to 1,405,054.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​