FameEX Morning Crypto News Recap | December 20, 2024

Powell Signals Cautious Approach to Future Rate Cuts, Rules Out Rate Hikes Next Year

Federal Reserve Chairman Powell signaled a cautious approach to future rate cuts, ruling out rate hikes next year. He noted signs of inflation rebounding and cautioned that potential tariff policies under Trump could further limit the Federal Reserve's ability to reduce interest rates, tightening monetary policy flexibility in the coming year.

17-Year-Old Ishaana Misra Awarded First Bitcoin Scholarship, Becomes Youngest Core Code Contributor

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

IMF Declines to Address Trump’s U.S. Strategic Bitcoin Reserve Proposal

IMF's Kozak stated they would not comment on Trump’s strategic Bitcoin reserve plan, promising a comprehensive evaluation if the policy is implemented.

Trump Proposes Congress Eliminate the Debt Ceiling

President-elect Trump urged Congress to cancel the debt ceiling, calling it "the smartest thing Congress can do" in an NBC interview. He criticized the concept as meaningless, emphasizing the uncertainty surrounding its breach, which could result in either disastrous consequences or prove to be inconsequential, adding to its inefficacy.

$100,000 Demand Zone Emerges with 1.45 Million BTC Accumulated

On December 19, IntoTheBlock data revealed a critical demand zone near $100,000, with over 1.45 million BTC accumulated around an average price of $97,500, highlighting its significance as a potential support area during market fluctuations.

Three Unstoppable Demand Drivers Fueling BTC

Matt Hougan, Bitwise Asset Management CIO, identified three "unstoppable" Bitcoin demand drivers: ETFs, Microstrategy, and potential government purchases. He emphasized supply-demand dynamics, stating excessive demand and limited supply could drive Bitcoin prices higher by 2025.

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