FameEX Morning Crypto News Recap | September 30, 2024

US Non-Farm Payrolls Report: Macro Indicators and Analysis

Last week, the US second-quarter GDP slightly surpassed expectations, and the Personal Consumption Expenditures (PCE) remained in line with forecasts. Federal Reserve officials generally anticipate another 50 basis points cut in interest rates this year. This week’s focus shifts to the US September unemployment rate and non-farm employment data. 

This week's key events & indicators:

• September 30: 2024 FOMC voting member and Atlanta Fed President Bostic speaks on the economic outlook  

• October 1: Federal Reserve Chairman Powell delivered a speech at the National Association for Business Economics ; the Bank of Japan released a summary of the opinions of the review committee members of the September monetary policy meeting; the US September ISM manufacturing PMI

• October 02: U.S. ADP employment in September (10,000 people)

• Number of initial jobless claims in the United States from October 3 to September 28 (10,000 people)

• October 04: U.S. unemployment rate in September ; U.S. seasonally adjusted non-farm payrolls in September (10,000 people) 

Bitcoin's Monthly Chart Nears First Bullish Engulfing Pattern in 18 Months

Bitcoin's monthly chart is poised to complete its first bullish engulfing pattern in 18 months, with 48 hours remaining. The last occurrence in January 2023 marked the end of the 2022 bear market. Since bottoming on September 6, BTC has surged, breaking past its previous lower highs, indicating a potential strong upward trend.

Six Key Areas for Improvement to Keep the U.S. Blockchain Industry Competitive

Cryptocurrency industry leaders argue that the U.S. blockchain sector is falling behind more progressive regions like Asia. To remain competitive, the U.S. needs to improve in six key areas: talent development, banking support, user experience, central bank digital currency (CBDC) integration, international cooperation, and a clearer regulatory framework.

CryptoQuant Founder: Intelligent Regulation Can Drive Web3 and Cryptocurrency Growth

CryptoQuant founder Ki Young Ju emphasized on X that cryptocurrencies and Web3 are legitimate if properly regulated. He highlighted that Web3 fosters borderless collaboration and value creation through token-based incentives, functioning more like a protocol than a traditional company. This represents a revolutionary shift in human cooperation, emphasizing the potential impact of well-regulated Web3 technologies.

OpenAI to Raise ChatGPT Monthly Fees and Seek $7 Billion in Funding

OpenAI plans to raise ChatGPT's monthly fee to $22 by year-end and gradually to $44 over five years. Investor materials reveal OpenAI's revenue reached $300 million in August 2024, with projections aiming for $3.7 billion by year-end. This reflects a significant growth trajectory and monetization strategy for the company.

Dutch Financial Market Authority Warns of High Cryptocurrency Dumping Risks, MiCAR to Take Effect in December

The Netherlands Financial Market Authority (AFM) issued a warning about the high risk of pump-and-dump schemes in cryptocurrencies. According to the AFM's official press release, the Markets in Crypto-Assets Regulation (MiCAR) will be implemented on December 30, aiming to address these risks and regulate the crypto market more effectively.

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