FameEX Morning Crypto News Recap | November 7, 2024
2024-11-07 17:23:05
QCP Capital Predicts Sustained Bullish Momentum for BTC Through 2025
QCP Capital notes that Bitcoin (BTC) has reached new highs in each of the three U.S. election cycles since its 2009 launch, without dropping back to pre-election levels. Although Trump’s policies could reduce rate-cut expectations, markets still anticipate a 1.8x rate cut this year and three additional cuts next year.
Trump Confirms SEC Chairman's Removal, Raising Hopes for a Crypto-Friendly Successor
Trump’s confirmation of SEC Chairman Gary Gensler’s removal has sparked speculation on successors, with SEC Commissioner Hester Peirce as a prominent candidate. Known for her pro-crypto stance, Peirce has criticized the SEC’s enforcement strategy, advocating for clear regulations that serve public interest and enhance the U.S.'s global standing in digital finance.
Bitcoin Overtakes Meta in Market Value, Ranking as the World's Ninth Largest Asset
On November 6, Bitcoin’s market value exceeded Meta’s, becoming the world’s ninth largest asset.
Republican-Led U.S. Senate May Drive Crypto-Friendly Regulatory Policies
Republican control of the U.S. Senate, secured by winning crucial seats in Ohio and West Virginia, offers a promising outlook for crypto regulation. Fideum CEO Anastasija Plotnikova highlighted that the election of over 240 pro-crypto candidates in Congress could boost innovation and strengthen competitiveness in the U.S. cryptocurrency sector.
Former Biden White House Aide Anticipates Softer Stance on Cryptocurrencies from Democrats
Justin Slaughter, Paradigm’s policy director and former SEC adviser, posted on platform X that a former Biden White House staffer suggested Democrats would soften their stance on cryptocurrencies. The staffer cited other pressing issues and acknowledged that cryptocurrencies have proven more resilient than previously anticipated.
JPMorgan Projects Quarterly Rate Cuts by the Federal Reserve in 2025
On November 7, JPMorgan updated its 2025 Federal Reserve rate forecast, now projecting quarterly cuts starting in March, differing from its earlier prediction of a single 100 basis point reduction over the year.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.