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FameEX Morning Crypto News Recap | November 7, 2024

2024-11-07 14:46:15

QCP Capital Forecasts Strong Bullish Momentum for BTC Leading into 2025

QCP Capital highlights that Bitcoin (BTC), since its 2009 inception, has surged to new highs in each of the three past U.S. election cycles without returning to pre-election levels. While Trump’s policies might lower rate-cut expectations, markets anticipate a 1.8x rate cut this year and three more next year.


Trump Confirms SEC Chairman's Removal, Fueling Speculation of a Crypto-Friendly Successor

Trump’s confirmation of SEC Chairman Gary Gensler’s removal has fueled speculation on possible successors, with SEC Commissioner Hester Peirce emerging as a likely candidate. Known for her crypto-friendly stance, Peirce has criticized the SEC’s enforcement approach, advocating instead for clear regulations that support public interest and strengthen the U.S.’s global position in digital finance.


Bitcoin Surpasses Meta in Market Value, Becoming the World's Ninth Largest Asset

On November 6, Bitcoin's market value surpassed Meta, ranking it as the ninth largest asset globally by market capitalization.


Republican Control of U.S. Senate Could Advance Crypto-Friendly Regulation

Republican control of the U.S. Senate, achieved by winning key seats in Ohio and West Virginia, signals a favorable outlook for cryptocurrency regulation. Fideum CEO Anastasija Plotnikova noted that over 240 pro-crypto candidates elected to the House and Senate could foster innovation and enhance competitiveness within the U.S. cryptocurrency industry.


Ex-Biden White House Staffer Predicts Democrats Will Ease Stance on Cryptocurrencies

Justin Slaughter, Paradigm’s policy director and former SEC adviser, shared on platform X that a former Biden White House staffer indicated Democrats would ease their opposition to cryptocurrencies. The staffer noted that the party has more pressing concerns and acknowledged that cryptocurrencies have shown greater resilience than initially expected.


JPMorgan Forecasts Federal Reserve to Implement Quarterly Rate Cuts in 2025

On November 7, JPMorgan revised its 2025 forecast for Federal Reserve interest rates, now predicting quarterly rate cuts beginning in March. This update contrasts with its previous forecast of a total 100 basis point reduction for the year.


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

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