Bitcoin Drops to $69K

Bitcoin dropped to $69,000, causing $450 million in liquidations. The dip followed a positive U.S. jobs report, which dashed hopes for a Federal Reserve interest rate cut.

Canaccord Genuity raised Galaxy Digital’s price target due to increased crypto adoption and institutional partnerships. SEC's approval of ether spot ETFs boosts mainstream crypto use.

Crypto Adoption Rises

AI Tokens Underperform

AI-linked crypto tokens like Render and Fetch fell 3-5% following Apple's event disappointment. Bittensor’s TAO dropped almost 6%, reflecting market dissatisfaction.

Democrats Urge Rate Cuts

Senators Warren, Rosen, and Hickenlooper urged the Federal Reserve to cut interest rates, arguing that high rates hinder economic growth and worsen inflation impacts.

Trump Leads in Prediction Markets

Polymarket traders give Donald Trump a 56% chance of winning the 2024 election, significantly higher than traditional polls, reflecting strong betting market sentiment.

Crypto and AI Megatrend

Bitwise reports that AI and crypto could add $20 trillion to the global economy by 2030. Partnerships between AI and crypto firms highlight vast growth potential.

Ethereum ETF Approval Boosts Market

SEC's approval of Ethereum ETFs strengthens Ethereum’s market position, attracting institutional investors and enhancing its dominance in the blockchain sector.