Bitcoin faces downside risks as a bear flag breakdown targets $77,400, while tensions between Strategy and MSCI can add new pressure on the BTC price. Bitcoin (BTC) is showing fresh downside risks as a deepening standoff between corporate Bitcoin holder Strategy (MSTR) and global index provider MSCI collides with a weakening technical structure. Key takeaways: BTC risks a slide toward $77.4K if the bear flag breaks down. Read more
Kevin Hassett, a White House economic adviser, has reportedly emerged as a leader among the Trump administration’s short list to replace Jerome Powell. US President Donald Trump is slated to choose a new Federal Reserve chair by Christmas, and the frontrunner, Kevin Hassett, could be a boon for the crypto industry. Hassett is a White House economic adviser who has reportedly emerged as a strong candidate for the Fed chair position. He is the director of the National Economic Council and oversaw the digital asset working group directed by the White House earlier this year. Trump has been trying to increase his administration’s control over the Federal Reserve, the country’s central bank, thereby expanding the White House’s influence over monetary policy. Read more
Bitcoin fielded new predictions of a short squeeze as price kept up pressure on key resistance at $88,000, while US stocks went higher. Bitcoin (BTC) hovered near $87,000 at the Wednesday Wall Street open as analysts eyed short liquidations. Key points: Bitcoin liquidity conditions analysis predicts a return toward $90,000 next. Read more