Whistleblower Edward Snowden Says $6 Trillion in Stimulus Is ‘Good for Bitcoin’
The infamous whistleblower and privacy activist Edward Snowden commented on bitcoin on Friday, after the Biden administration said this week it was shooting for 6 trillion dollars in stimulus proposals. Following the $6 trillion in stimulus headlines, Snowden commented on the situation and said it was “good for bitcoin.” Edward Snowden Jabs Biden’s 6 Trillion-Dollar…
The infamous whistleblower and privacy activist Edward Snowden commented on bitcoin on Friday, after the Biden administration said this week it was shooting for 6 trillion dollars in stimulus proposals. Following the $6 trillion in stimulus headlines, Snowden commented on the situation and said it was “good for bitcoin.” Edward Snowden Jabs Biden’s 6 Trillion-Dollar […] Read More
Key takeaways SEI has reclaimed the $0.30 psychological level, paving the way for further rally. The positive performance comes despite Bitcoin and other major cryptocurrencies recording losses. SEI rallies as BTC and others falter SEI, the 47th-largest cryptocurrency by market cap, is one of the best performers in the top 100 over the last 24
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Key takeaways SEI has reclaimed the $0.30 psychological level, paving the way for further rally. The positive performance comes despite Bitcoin and other major cryptocurrencies recording losses. SEI rallies as BTC and others falter SEI, the 47th-largest cryptocurrency by market cap, is one of the best performers in the top 100 over the last 24 […]
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Key Takeaways Bitcoin and altcoins fell in a broad crypto market decline ahead of the Fed Chair’s Jackson Hole speech. Market volatility increased as investors anticipated possible Fed rate changes and reacted to ongoing inflation concerns. Share this article Bitcoin slipped under $113,000 on Tuesday, triggering a market-wide downturn that sent Ethereum, XRP, and Solana
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Key Takeaways
Bitcoin and altcoins fell in a broad crypto market decline ahead of the Fed Chair’s Jackson Hole speech.
Market volatility increased as investors anticipated possible Fed rate changes and reacted to ongoing inflation concerns.
Share this article
Bitcoin slipped under $113,000 on Tuesday, triggering a market-wide downturn that sent Ethereum, XRP, and Solana lower. The total crypto sector fell to $3.8 trillion, down 3.5% on the day.
The price of Bitcoin dropped nearly 3% in the last day to $112,696, marking a return to levels not seen since the beginning of the month, CoinGecko data shows.
Ether dropped more than 4% to $4,100 after flirting with record highs in the past few days. Losses are spread across major altcoins, with XRP down nearly 6%, Dogecoin and Chainlink off over 5%, and Sei and Cardano plunging 8%.
The pullback comes ahead of the Fed’s Jackson Hole symposium on Friday, where Chair Jerome Powell is scheduled to deliver his keynote address. Markets are bracing for whether he signals a September rate cut or doubles down on inflation concerns, especially after US inflation data offered mixed signals in July.
The headline CPI slowed to 2.7% but core inflation edged up to 3.1% and PPI climbed 3.3%. The combination of weakening job growth and persistent price pressures has raised stagflation fears, which could complicate the Fed’s decision-making.
“Higher‑than‑expected PPI numbers (producer prices jumped 0.9% month‑on‑month against a 0.2% forecast) have complicated the Fed’s policy framework, so the market will be looking for hints on the Fed’s thinking ahead of its September policy meeting,” said QCP Capital analysts in a statement. “Last year, Powell used Jackson Hole to telegraph an easing bias; this year, Trump’s tariffs and political pressure create a much more contentious backdrop.”
Traders are still pricing in a 25-basis-point cut at the September 17 FOMC meeting, though odds have eased following hotter-than-expected inflation readings.
Analysts predict Powell will be cautious during his final Jackson Hole speech. The Fed Chair may acknowledge that risks to employment and inflation are balancing, suggesting a cut could be appropriate if trends continue, but he is unlikely to commit to a specific policy action.
Since expectations for a September cut are already priced in, any hint that action might be delayed could feel like a tightening of policy for investors.
However, signals that quantitative tightening may end or that regulatory shifts are coming could boost liquidity and potentially reignite Bitcoin’s rally toward year-end, analysts suggest.
Elsewhere, US stocks also reflected uncertainty at Tuesday’s market close.
The S&P 500 fell nearly 0.6% and the Nasdaq Composite dropped around 1.5%, while the Dow Jones Industrial Average edged up.
Tech and chipmakers led losses, with Nvidia down 3.5%, AMD off 5.4%, and Broadcom lower by 3.6%. Palantir sank 9%, the worst S&P 500 performer, while Tesla, Meta, and Netflix also slipped.
Key Takeaways KindlyMD acquired 5,744 Bitcoin worth approximately $679 million through its subsidiary Nakamoto Holdings. The purchase is part of KindlyMD’s strategy to accumulate one million Bitcoin as a corporate reserve asset. Share this article KindlyMD, led by President Donald Trump’s Bitcoin advisor David Bailey, announced Tuesday it had spent approximately $679 million to accumulate
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Key Takeaways
KindlyMD acquired 5,744 Bitcoin worth approximately $679 million through its subsidiary Nakamoto Holdings.
The purchase is part of KindlyMD’s strategy to accumulate one million Bitcoin as a corporate reserve asset.
Share this article
KindlyMD, led by President Donald Trump’s Bitcoin advisor David Bailey, announced Tuesday it had spent approximately $679 million to accumulate around 5,744 Bitcoin.
With the latest acquisition, KindlyMD’s Bitcoin stash surpasses 5,764 units, equating to over $655 million at current prices of about $113,840. The company used PIPE proceeds for the purchase as part of its strategy to acquire one million Bitcoin under the Nakamoto Bitcoin Treasury.
Commenting on KindlyMD’s BTC purchase, the first since it completed its merger with Nakamoto Holdings, CEO Bailey reiterated that his team is doubling down on Bitcoin as a cornerstone asset for the future.
“Our long-term mission of accumulating one million Bitcoin reflects our belief that Bitcoin will anchor the next era of global finance, and we are committed to building the most trusted and transparent vehicle to achieve that future,” he added.
KindlyMD now ranks sixteenth among corporate Bitcoin holders, ahead of firms like Semler Scientific and GameStop.
Shares of the company (NAKA) fell 14% at Tuesday’s open as Bitcoin slipped from above $115,800 to $113,846 amid a market-wide pullback.
With Bitcoin hovering near record levels, analysts are split on what comes next. Swyftx Lead Market Analyst Pav Hundal warns the charts hint at trouble ahead, urging caution across altcoins. Crypto Analyst Chiefy, however, sees the latest volatility as part of the halving cycle’s natural rhythm…
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With Bitcoin hovering near record levels, analysts are split on what comes next. Swyftx Lead Market Analyst Pav Hundal warns the charts hint at trouble ahead, urging caution across altcoins. Crypto Analyst Chiefy, however, sees the latest volatility as part of the halving cycle’s natural rhythm… Read More
