Hey everyone,
Here is your market update for the week!
https://www.youtube.com/watch?v=PGSWVENnYzA
Video Highlights:
- Federal Reserve cuts rates by 0.25%. Chairman Jerome Powell said that December’s rate cut is not guaranteed. Markets moved down after the news.
- Institutional money is still pouring into crypto. If they are still accumulating, I think they don’t want the market to move up yet until they are ready.
- BTC reserves at exchanges are still dropping quite fast where available supply is still dwindling.
- SBI Bank in Japan, one of the largest holders of XRP in the world, is investing $200M in a digital asset treasury called Evernorth. In my opinion, this is a very bullish signal where they know things that the average person doesn’t know.
