FameEX Morning Crypto News Recap | December 9, 2024

The Fed Begins Its Quiet Period as CPI Data Release Approaches

November's non-farm payrolls exceeded expectations but weren't strong enough to deter the Fed from a likely rate cut this month. The market predicts a 90% chance of a 25-basis-point cut, though November's CPI data could reshape expectations, impacting market sentiment and crypto asset price volatility.

Trump States He Has No Plans to Request Powell's Resignation as Fed Chairman

President-elect Donald Trump stated on NBC that he has no intention of replacing Federal Reserve Chairman Jerome Powell after taking office in January. Trump noted Powell might not resign even if asked, reinforcing his decision to avoid pursuing such a replacement.

Research Indicates Bitcoin Likely to Remain Range-Bound in the Short Term

CryptoQuant's analysis suggests Bitcoin will remain range-bound, with the 14-day volatility index (CI) at 56.7, the highest since mid-August. Analyst Percival notes this indicates more volatile conditions during consolidation, with higher CI values reflecting increased volatility and lower values signaling market directionality.

Altcoin Season Kicks Off, Expected to Last Until March Next Year

Anonymous trader MilkyBull Crypto predicts the altcoin season has just begun and will last about 90 days until March. Bitcoin's market share, often a key indicator, has dropped to 55.11%, down 7.88% over the past 30 days, according to TradingView data.

Survey Reveals One Quarter of US Entrepreneurs Support Cryptocurrency Loans

A survey reveals that 25% of American entrepreneurs support using cryptocurrency loans to start businesses, with 10% of companies expected to prefer crypto loans by next year. Additionally, nearly 10% of business owners consider paying salaries in cryptocurrency, with 30% of employees expressing support for this option.

NFT Market Sales Hit $196.2 Million This Week, Up 34.23%

CryptoSlam reports NFT market sales reached $196.2 million this week, a 34.23% rise from $146.5 million last week. NFT buyers increased by 20.29% to 693,833, and sellers grew 15.97% to 402,069, while transactions slightly declined by 1.92% to 1,405,054.

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