- Bitcoin's Rise and the Fed Impact
- Political Events and Cryptocurrencies
- Hacker Attacks and Financial Consequences
The past week has brought noticeable changes to the cryptocurrency market, which has managed to recover more than $100 billion in capitalization. This is mainly due to positive news in both the cryptocurrency industry and the macroeconomic context.
Bitcoin's Rise and the Fed Impact
Bitcoin's price surged by 5.2% over the past week and is currently testing the $61K mark. At one point, the leading cryptocurrency even rose above $62K, but the bears quickly pushed it back. Nevertheless, this remains positive news for long-term investors. One of the main reasons for this growth was a statement by US Federal Reserve Chairman Jerome Powell about the need to cut interest rates. The US stock market and BTC reacted quickly to this increase.
Political Events and Cryptocurrencies
The administration of US presidential candidate Kamala Harris announced plans to support the growth of the cryptocurrency industry. At the same time, leading independent candidate Robert Kennedy terminated his campaign in Arizona, which many see as indirect support for Donald Trump. This could strengthen Trump’s position in the presidential race, which the cryptocurrency community sees as a positive signal.
Hacker Attacks and Financial Consequences
This week, the official McDonald's Instagram account was hacked to promote a fraudulent Solana-based coin called 'Grimace.' The attackers managed to steal more than $700,000 in Solana. This highlights the importance of cybersecurity in the digital space.
The past week has shown that even amid political changes and economic news, the cryptocurrency market can maintain its growth momentum. More interesting events await us, especially ahead of the US elections.
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