Crypto Bulls Take Charge

DAILY MARKET OVERVIEW
Bitcoin Breaks $66K!

👋 Happy Friday Crypto Enthusiasts! It’s been an exciting week in the crypto market, let’s dive into today’s latest updates!

💰 Bitcoin Bulls Charge Past $66K Amid Global Stimulus

This week, Bitcoin soared past $66K, reaching its highest point since early August. This rally was sparked by significant economic actions, including China’s announcement of plans for a massive $280 billion fiscal stimulus, the largest since the pandemic.

The stimulus aims to support key sectors such as housing and investment

• Coupled with interest rate cuts from the U.S. Federal Reserve, these moves have boosted optimism across the market.

• Many analysts believe this fresh wave of liquidity could support sustained Bitcoin growth in the months ahead, although some remain cautious about its long-term sustainability​

🇨🇳 How China Stimulus Could Affect Crypto

China's 280 billion fiscal stimulus package is expected to inject significant liquidity into the economy through sovereign bonds and the easing of property purchase restrictions in major cities.

• This could boost demand for cryptocurrencies like Bitcoin, as increased liquidity often pushes investors toward riskier assets​

While Bitcoin impressed, Shiba Inu (SHIB) stole the spotlight with a 40% surge, leading to a broader comeback in the meme coin space. Investors have flocked back, driving renewed interest in SHIB. The question now is: Can this momentum hold, or are the bears lurking?

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TWITTER SENTIMENT
Massive News For Crypto!

Social sentiment is also growing more bullish each day, with traders and investors on Xcelebrating the SEC's approval of Bank of New York Mellon (BNY) to expand its crypto custody beyond ETFs.

• BNY, the largest custodian bank, can now securely manage assets like Bitcoin and Ethereum!

SEC Chair Gary Gensler highlighted BNY’s structure, which protects customer funds even in the event of bank insolvency.

This decision is seen as a key step for institutional crypto adoption. With BNY overseeing $49 trillion in assets, confidence in the legitimacy and security of crypto investments continues to rise.

NEWS OVERVIEW
The Latest Crypto Headlines 📰 

Robinhood Mulling Stablecoin Launch, Bloomberg Reports
Robinhood is reportedly considering a stablecoin launch, following other fintech companies entering the crypto space, including PayPal.

Base Crosses $2 Billion TVL Amid Growing User Activity
Base has reached $2 billion in total value locked, with the decentralized exchange Aerodrome contributing over $1 billion in deposits.

Core Blockchain Leads Bitcoin Layer 2 Scaling Solutions
Core’s total value locked has surged past $400 million, making it the leading Bitcoin Layer 2 scaling solution by deposits.

U.S. Seizes Crypto Domains Tied to $800 Million in Illicit Transactions
The DOJ has seized domains linked to three cryptocurrency exchanges involved in over $800 million in illicit transactions.

YOUTUBE INFLUENCER SUMMARY 📷️ 
Miles Deutscher - The Altcoin Rally We've All Been Waiting For Is FINALLY HERE! (27.09.2024 Summary)

Miles is excited about the long-awaited altcoin rally, noting that Bitcoin's recent move above $65k confirms a market uptrend. He calls the current phase a "popcorn market," where different altcoins, especially meme coins, AI tokens, and Layer 1 blockchains, are breaking out.

• This isn’t a full bull market yet but an early phase, setting up for broader growth.

• Miles highlights the importance of having a strategy, pointing out that this rally is driven by insiders, not retail investors. This suggests there's still room for more growth as the broader public joins in.

He also notes that global liquidity is increasing, driven by factors like China’s economic policies and easing monetary conditions in the U.S., which could further support Bitcoin and altcoins. While these larger macroeconomic effects might take time to fully impact the market, Miles expects strong short-term gains as the rally continues.

Ivan On Tech - BITCOIN: ALLLL IINNN NOOOWW!! (27.09.2024 Summary)

Ivan is optimistic about Bitcoin's current momentum, believing it’s nearing a potential all-time high. He highlights the recent strong performance on the weekly chart, where three consecutive weeks of gains suggest Bitcoin could soon break its previous peak. A single large move, similar to past rallies, could push Bitcoin to $78k.

• He emphasizes the importance of maintaining this momentum, noting that Bitcoin’s dominance is decreasing, which could signal the start of an altcoin season.

• Ivan sees the past six months of consolidation as laying a strong foundation for a significant rally, potentially driving Bitcoin to $100k or higher.

Looking at historical trends, he recalls Bitcoin’s surge from $10k to $60k in six months during 2020. Ivan suggests that a similar rally could lead to a 3x increase, bringing Bitcoin to over $100k or even $300k.

He also considers global factors, such as China’s economic stimulus and the evolving financial landscape, where Bitcoin could play a role as a neutral asset. Ivan believes that increasing global liquidity from both Eastern and Western economies could further support Bitcoin’s growth.

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