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And so, the dance continues. Bitcoin, that great enigma, hovered near $118,000, a constant presence in the lives of its devotees. The U.S. CPI data, a siren’s call, beckoned traders to reprice the odds of a September Fed rate cut, a promise of deliverance from the crypto wilderness.
The White House, meanwhile, seems to be embroiled in a game of “Where’s Jerome?” Treasury Secretary Scott Bessent cleverly indicated that “a formal process that’s already starting” was afoot to uncover Powell’s elusive successor. You know, just a casual search for someone who might handle the central bank with a touch more finesse—or at least not set off a financial apocalypse.
After reaching a new high of over $123,000 on Monday, Bitcoin has since dropped by roughly 5.4% from that peak, with its price currently hovering just above $116,000.
The crypto market, a realm where fortunes are made and lost in the blink of an eye, has once again been seized by a fresh wave of enthusiasm. Many major digital assets have recorded impressive gains, fueling a sense of optimism that is as intoxicating as it is fleeting. 🍷
The PUMP token, dear reader, has already earned itself a market cap of $2.33 billion—quite the princely sum. But wait, there’s more! Only a mere 35.4% of its total supply is in circulation. Should the rest decide to join the party, its fully diluted valuation could soar to a jaw-dropping $6.58 billion. Why, it’s enough to make the token rank 44th on CoinMarketCap—what a climb! 🌟
Ethereum price started a fresh increase above the $2,880 zone, outperforming Bitcoin. ETH price gained pace for a move above the $2,950 resistance zone and entered a positive zone. It’s like Ethereum is saying, “I’m not just a cryptocurrency, I’m a movement!”
On the fifteenth day of July, the illustrious U.S. House of Representatives cast aside a chance at progress, halting the noble pursuit of three grand crypto measures: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. This fine initiative was dubbed “Crypto Week,” a week promising to bring clarity, guidance, and perhaps a sparkly crown for our beloved digital tokens! 👑✨
In a post that could only have been penned by the master of the tweet, Trump exudes a confidence that borders on the prophetic. He assures us that this legislation will catapult the United States into the stratosphere of cryptocurrency innovation, leaving all other nations in the digital dust. 🚀
According to Bloomberg, Vanguard didn’t exactly plan this. They’re just following their index-fund rules. When Strategy’s stock started climbing, it naturally grew larger in the indexes Vanguard tracks. So, Vanguard had no choice but to buy more shares. It’s like when you’re on a diet, but the buffet keeps bringing you more cake. 🍰
Once heralded with the pomp of a summer’s day, the Senate saw the GENIUS Act sail through in June, yet its voyage in the House remains steeped in uncertainty. Speaker Mike Johnson, like a cautious sailor eyeing the horizon, hinted at another attempt, perhaps to be revealed later in the week. Will the winds of fortune change? Only time will tell—unless the universe conspired to throw a banana peel in the way! 🍌⏳