Global #Interest Rates

The Bank of Japan (BoJ) has decided to maintain its key policy rate at 0.25% in a move aimed at stimulating economic growth.

Bitcoin has reached new heights, hitting an all-time high just above $75,560, marking its largest daily performance since March 20. The digital asset’s explosive rally is being attributed to growing market expectations of a Republican victory in the 2024 U.S. presidential election, particularly the likelihood of a second term for former President Donald Trump.

Today’s cryptocurrency market is experiencing a choppy phase, with widespread declines across major assets. The total market capitalization has decreased by 2.26% in the past 24 hours, now sitting at $2.13 trillion.

In recent years, credit card debt in the U.S. has reached alarming levels, with interest rates surging to an unprecedented 23.4%. This represents a significant increase from previous years, coinciding with the total credit card debt surpassing the $1 trillion mark.

After a prolonged period of uncertainty, the cryptocurrency market is experiencing renewed optimism following the Federal Reserve's decision to cut interest rates for the first time in four years.

Ether (ETH) has shown resilience, rising 2.5% in the past 24 hours to trade at approximately $2,434. A significant factor in this upward movement is the cryptocurrency's robust support at the 200-week simple moving average (SMA), currently positioned at $2,298.

According to a report by Steno Research, the highly anticipated decentralized finance (DeFi) summer could return as early as 2025.

Benjamin Cowen, a prominent crypto strategist, has recently shared insights on the crypto market’s potential trajectory, emphasizing the Federal Reserve's role in influencing Bitcoin's performance.

An SBLOC, or securities-backed line of credit, is a loan that allows investors to tap into the value of their investments without having to sell them. Investors can use their securities as collateral to borrow cash, providing a source of liquidity without disrupting their long-term investment strategy.