FameEX Morning Crypto News Recap | December 20, 2024

Powell Adopts Cautious Stance on Future Rate Cuts, Rules Out Rate Increases for Next Year

Federal Reserve Chairman Powell indicated a cautious stance on future rate cuts, ruling out hikes next year. He highlighted inflation's rebound and warned that potential tariff policies under Trump could restrict the Fed's ability to lower rates, reducing monetary policy flexibility for the coming year.

17-Year-Old Ishaana Misra Wins Bitcoin Scholarship, Sets Record as Youngest Core Code Contributor

Chaincode Labs in New York awarded 17-year-old Ishaana Misra the first Bitcoin scholarship, recognizing her as the youngest core code contributor in Bitcoin's 15-year history. Chosen from 232 global applicants, the renewable scholarship covers a year’s tuition, potentially funding her entire undergraduate education.

IMF Withholds Comment on Trump’s U.S. Strategic Bitcoin Reserve Plan

IMF's Kozak declined to comment on Trump’s strategic Bitcoin reserve plan but assured a thorough evaluation if the policy is eventually implemented.

Trump Recommends Congress Remove the Debt Ceiling

President-elect Trump called on Congress to abolish the debt ceiling, describing it as "the smartest thing Congress can do" during an NBC interview. He criticized the debt ceiling as meaningless, highlighting the uncertainty of its breach, which could lead to either severe consequences or no impact, underscoring its ineffectiveness.

1.45 Million BTC Accumulated, Establishing $100,000 Demand Zone

On December 19, IntoTheBlock data identified a key demand zone near $100,000, with over 1.45 million BTC accumulated at an average price of $97,500, underscoring its importance as a potential support area amid market volatility.

Three Key Drivers Powering Unstoppable BTC Demand

Matt Hougan, CIO of Bitwise Asset Management, highlighted three "unstoppable" sources of Bitcoin demand: ETFs, Microstrategy, and potential government purchases. He stressed that overwhelming demand combined with limited supply is likely to push Bitcoin prices higher, with a significant increase expected by 2025 due to these driving factors.

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