Fed Day Dry Powder: Cryptoquant Analyst Tracks $7.6B Stablecoin Pile on Exchanges

The post Crypto analyst reveals shocking Bitcoin ‘bottom price’ target appeared on BitcoinEthereumNews.com. Bitcoin (BTC) extended its losses on Friday, September 26, trading as low as $108,631 as U.S. second-quarter gross domestic product (GDP) growth revision dampened hopes for more aggressive Fed rate cuts. Spot Bitcoin exchange-traded funds (ETFs) also took a blow, recording over $253 million in outflows on Thursday, September 25, bringing the total number for the week to roughly $480 million, a figure expected to rise further if prices slide below key support levels.  As things stand, resistance lower than $112,000 ‘isn’t great’ for the cryptocurrency, warned leading crypto analyst Michaël van de Poppe in a social media post on Friday morning. Looking at the data from the past quarter, van de Poppe predicted that a failure to break out could see the world’s largest crypto sink toward the $107,000 level, a zone he thinks is ‘the first area for a potential bottom on BTC.’ “Basically, beneath the resistance at $112K isn’t great for Bitcoin. That’s why I think we’ll sweep the lows at $107K and see what we’re going to get from there. That’s the first area for a potential bottom on BTC,” wrote the analyst on X. BTC analysis. Source: @CryptoMichNL A pivotal moment for Bitcoin? Data from the Crypto Fear & Greed Index showed a reading of as low as 28/100 on Friday, its lowest level since April 11, according to CoinMarketCap. The ratio fell 16 points in a single day, showing how quickly sentiment can shift in periods of heightened volatility. This was due to the broader cryptocurrency market having shed more than $150 billion in value in just 24 hours, with total capitalization plunging from $3.90 trillion to $3.75 trillion at press time. BTC bore the heaviest losses, erasing more than $20 billion.  However, observing the signs of a potential bull trap, analyst Michael Pizzino…

PANews reported on September 18th that according to Jinshi, "Federal Reserve mouthpiece" Nick Timiraos stated that the Federal Reserve approved a 25 basis point interest rate cut on Wednesday, the first in nine months. Officials believe that recent labor market weakness has outweighed the headwinds posed by recurrent inflation. Slightly over half of officials expect at least two more rate cuts this year, suggesting the possibility of consecutive action at the remaining two meetings in October and December. This summary of economic forecasts suggests a shift in policy stance toward broader concerns about cracks in the job market—an environment complicated by significant policy adjustments that have made economic trends increasingly difficult to predict. Forecasts suggest that future policy decisions could be even more divided: Of the 19 officials present, seven predicted no further rate cuts this year, while two supported only one. Most officials believed that given the current outlook for solid economic activity (even if slowing slightly), further significant rate cuts next year were unnecessary. Fed officials have debated this balance throughout the year. Powell's decision to guide his colleagues toward a rate cut was based on a judgment that inflation risks may be more manageable, and that the Fed should accept more of them to avoid a deeper impact on the labor market.

TLDR Xpeng posted Q3 loss of RMB0.16 per share, well below analyst estimates of RMB0.57 loss Vehicle deliveries surged 149.3% to 116,007 units with revenue up 101.8% to RMB20.38 billion Gross margin expanded to 20.1% while vehicle margin reached 13.1% Q4 revenue forecast of RMB21.5-23.0 billion missed RMB25.09 billion consensus estimate Stock fell approximately 2% [...] The post Xpeng (XPEV) Stock Falls as Strong Q3 Results Overshadowed by Disappointing Guidance appeared first on Blockonomi.