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Betting on FOMC Meeting Made This Investor $35,000
Amid the odds and uncertainty, an investor bid on the FOMC meeting and made $35,000. Although this is nothing new in the crypto market, such milestones are remembered either due to them turning successful at odds or giving handsome returns, and this incident carries both things. Let’s discuss.
FOMC Meeting: No Rate Change Decision Made Investor $35K
The US FED decided to keep the interest rate study between $4.25% and $4.50, which most experts already anticipated. Jerome Powell’s speech mentioned that the economy is strong, but inflation is still above the central bank’s 2% targets. With the FOMC meeting on January 2, there’s a pause on the rate cuts after the three cuts happened in 2024.
“With the economy continuing to be robust, we don’t have to rush to change the policy direction,” said Powell.
Notably, an experienced trader made the best use of the opportunity, betting on the FOMC outcome and making $35,000 in just a few hours. Interestingly, the person took a risk, as they bet $1.86M. If the FED has opted for rate cuts, this investor would have lost $1.86M.
Some complimented this better’s trust and bold moves, while some criticized the madness, as the person bet millions of dollars for a mere profit. Regardless, the investor’s intuitions and research worked, making a $35,000 profit.
How is This FOMC Meeting Affecting the Crypto Market?
Along with the inflation discussion, Jerome Powell’s one specific statement has become the highlight of the Fed meeting. Powell stated that US banks are fully capable of managing any risks associated with crypto clients, which experts believe signals ‘no significant plans to restrict financial institutions from dealing with the crypto industry.’
Interestingly, before the FOMC meeting, a significant crypto crash took place, which impacted digital assets massively. However, past the meeting, bullish momentum has begun building. The Bitcoin price surged to $106.2k on January 30, and the rest of the altcoins followed up soon.
Investors’ trading activity and interest also grew in the market, especially in Bitcoin, XRP, VVV, and other tokens, per a santiment report. Considering that an earlier CoinGape report mentioned these as the cryptos to buy before January 31 for high returns.
However, with the upcoming U.S. economic data report, the crypto market is a bit turbulent today. Such macroeconomic events affect investors’ sentiments and interfere with the price trajectories of digital assets, so careful trading activities are mandatory at this point.
Key Things To Remember
The FED meeting positively affected the crypto market, especially the BTC token. Since then, the Bitcoin price surge has surged to $106.2k before declining again due to upcoming U.S. economic data. As a result, the entire crypto market is facing turbulence today. Interestingly, some investors consider it a buying opportunity, as the digital assets trade at a low. The aforementioned investor also identified a trading opportunity in the FOMC meeting, as they bet $1.86M on ‘no rate cuts,’ earning $35,000 in profits. With this, the person highlighted the earning potential of the market, but it is only possible with the proper research and skills.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Cryptocurrency exchange giant Binance again nabbed significant investor attention with its latest announcement on Monday. The crypto trading platform revealed that it will be delisting all non-MiCA-compliant stablecoin trading pairs in the EEA (European Economic Region) shortly.
Binance To Delist Non-MiCA Compliant Stablecoin Trading Pairs In EEA
According to an official Binance announcement on March 3, the crypto exchange is implementing changes to non-MiCA-compliant stablecoin trading pairs in the EEA region. As per the announcement, trading pairs with USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG will be delisted for EEA users on March 31.
However, MiCA-compliant stablecoins pairs, such as USDC, EURI, and fiat pairs (EUR) will remain available. Simultaneously, the crypto exchange also urged EEA users to convert any remaining non-MiCA compliant stablecoin holdings (e.g., USDT) to USDC, EURI, or EUR.
Why Is Binance Delisting Stablecoin Trading Pairs?
Meanwhile, it’s also noteworthy that Binance rolled out its latest delisting announcement following recent stablecoin-related guidelines from EU authorities. As a result, the top crypto exchange is making changes to the availability of non-MiCA-compliant stablecoins in the EEA.
What’s More?
Starting March 31 at 23:59 UTC, the exchange will restrict the availability of Spot trading pairs pegged to non-MiCA Compliant Stablecoins. Further, starting March 27 at 07:00 UTC, any non-MiCA compliant Margin trading pairs will also be delisted for EEA users.
Other services like trading bots, earn, and loans will also be impacted for users. Nevertheless, the exchange clarified that users will still be able to sell any remaining non-MiCA-compliant stablecoin holdings after March 31.
Binance Continues Modifying Trade Offerings
Simultaneously, with the abovementioned endeavor weighing in, the leading cryptocurrency exchange further cements its top ranking in the market. Notably, Binance has secured the top spot by constantly enhancing trade offerings in line with market needs.
CoinGape recently reported that the exchange extended support to the Ethernity Chain (ERN) token swap process, sparking an ERN price upswing. On the other hand, the CEX also delisted key BNB and ETH trading pairs, adding to its foray into revolutionized offerings.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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XRP price has surged nearly 25% in the daily timeframe, indicating renewed market confidence towards Ripple’s asset. One of the primary catalysts for the current surge is likely US President Donald Trump’s recent hint towards a US XRP Reserve. However, amid this, a top market pundit predicts the asset’s value to soar past the $70 mark with a potential timeline.
XRP Price Soars 25% As US Crypto Reserve Gains Momentum
XRP price jumped nearly 25% today and exchanged hands at $2.79, while its one-day trading volume skyrocketed $19.09 billion. Notably, the crypto has touched a 24-hour high and low of $2.97 and $2.23, respectively. Furthermore, XRP Futures Open Interest rose about 40% to $4.33 billion, its highest level since early February, indicating the regaining confidence of the traders.
Meanwhile, the rally comes against the backdrop of the latest US Crypto Reserve comment by Donald Trump. Notably, the social media war between the Bitcoin and Ripple community has recently gained traction, especially amid rumors of XRP Reserve in the US instead of only BTC-focused Reserve. However, Trump said in his Truth Social platform that the US is considering adding XRP, ADA, and SOL to the US Crypto Reserve alongside Bitcoin and Ethereum.
So, what lies ahead for Ripple’s native asset? Here we cover how bullish the experts are on the future trajectory of the coin.
Ripple Coin Targets $70 Rally, Here’s When
In a recent X post, renowned market expert Dark Defender has made a bold prediction for XRP price ahead, setting a short-midterm target of $77.7. In a recent X post, Dark Defender outlined a possible scenario where the crypto could extend toward $18 “with the third wave”.
The expert identified key supports at $2.60 and $2.77, and resistances at $5.85, $8.03, and $18.22. According to Dark Defender’s analysis, XRP could reach the $77.7 mark by 2027, as indicated in a shared price chart.
Meanwhile, this prediction has generated significant interest among cryptocurrency enthusiasts, who are eagerly watching the asset’s price movements. While market predictions can be uncertain, Dark Defender’s expertise and track record make this forecast worth considering.
Levels To Watch For Short-term
Echoing bullish sentiments, other market experts also remained bullish on the future trajectory of the coin. For context, in a recent analysis CasiTrades said that if the XRP price holds the $2.92 support, it is likely to continue its rally ahead to a new high.
Simultaneously, another expert Rose Premium Signals also echoed a similar sentiment. According to the expert, the next targets for Ripple’s coin sit at $3, $4.2, and finally $5. Having said that, if the XRP price breaks past the initial two targets, it could rally to $5 in the near term.
Besides, the market trends also indicate a bullish market sentiment that is currently hovering. For context, renowned market expert Ali Martinez highlighted the massive buying pressure from the XRP whales recently. In a recent X post, Martinez said that large investors have purchased 270 million coins over the weekend.
On the other hand, soaring bets toward a likely dismissal of the Ripple Vs SEC case have further boosted market sentiment. However, it’s worth noting that an expert has recently refuted claims over the Ripple SEC case’s impact on the crypto’s price ahead.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The crypto market has been on a wild ride, with prices plummeting and recovering in dramatic fashion in response to various economic indicators. As investors and enthusiasts navigate this unpredictable landscape, all eyes are on the upcoming US job data release. The community remains anxious as a weaker job data could result in increased volatility.
Notably, initial jobless claims surged to their highest level of the year last week, potentially signaling a slowdown in the labor market. With President Donald Trump reducing the government workforce, a weaker jobs report is expected. Let’s uncover how the upcoming jobs report could influence the crypto market.
Is a Weaker US Jobs Data Ahead?
According to a Labor Department report on Thursday, new jobless claims jumped to 242,000 for the week ending February 22, surpassing expectations and reaching the highest level of 2023. The latest data hints at a slowdown in the labor market, potentially leading to the Federal Reserve’s interest rate cuts.
Notably, jobless claims for the week ended February 22 jumped by 22,000 to 242,000, exceeding analysts’ forecasts of 225,000. Washington, D.C. saw a significant surge in new unemployment claims, totaling 2,047, which marks a 26% increase from the previous week. Unemployment filings in Massachusetts jumped by 3,731 to 9,179, while Rhode Island saw claims skyrocket by more than 200% to 2,964.
All these inputs suggest that the upcoming US jobs data will report a weaker employment data, potentially leading to a significant Fed decision and a crypto market volatility.
How Will the US Jobs Data Impact Federal Reserve’s Interest Rate Decision?
Interestingly, the US employment data is a critical factor that significantly influences the Federal Reserve’s decision on interest rates. If the upcoming US jobs data reveals an increased unemployment rate, there is a higher possibility for the Federal Reserve to reduce interest rates. On the other hand, a strong job market can fuel inflation, prompting the Federal Reserve to take action to curb it, which may delay interest rate cuts.
Additionally, the significant decline in the US consumer confidence in February has sparked anticipations of Fed’s interest rate cuts in June and September. The Conference Board survey revealed that the consumer confidence drop marked the sharpest in 3.5 years largely driven by growing concerns over President Donald Trump’s economic policies.
Further fueling speculations, Raphael Bostic, the President of the Atlanta Federal Reserve, shared his insights on the Fed’s possible moves. He stated that the Fed will reduce interest rates twice this year while some factors could affect the decision. He posited, “While that’s my baseline expectation, there’s a lot that is going to happen that could influence that really in both directions.”
Will the Crypto Market See Another Turmoil?
Over the past few weeks, the crypto market has been experiencing vast changes, with prices of top cryptocurrencies like Bitcoin and Ethereum fluctuating rapidly. With anticipations of slower US jobs data, the market is expected to have a resurgence despite volatility.
As President Donald Trump is reducing the government workforce through Elon Musk’s Department of Government Efficiency, there is a higher chance for an increased unemployment rate. This could push the Fed to further reduce interest rates, paving the way for a stronger crypto market.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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