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Solana's price has faced significant volatility, dropping nearly 20% to around $175 amid a broader market sell-off that erased over $250 billion. Despite a recent rebound to $187, concerns over regulatory comments from the Fed Chair suggest that Solana may struggle to maintain bullish momentum, with potential consolidation between $198 and $186 before further price action. If bullish support wanes, the price could dip closer to $155.
US stocks fell on Friday as the House voted against a Trump-backed spending bill, raising the likelihood of a government shutdown. The Nasdaq Composite led losses with a 0.8% drop, while the S&P 500 and Dow Jones fell 0.4% and 0.1%, respectively. Key inflation data showed a month-over-month deceleration in price increases, but inflation remains a concern for the Federal Reserve.
Signs of a potential turning point are emerging in the West, as leaders like Elon Musk and Vivek Ramaswamy propose significant government spending cuts, and Argentina's Javier Milei implements a successful deregulation agenda. The collapse of Germany's eco-socialist government and Liechtenstein's media reforms suggest a shift away from overregulation and state intervention. Increasingly, people are recognizing the need to abandon the failed policies of the past in favor of individual freedom and economic prosperity.
Olivier Kessler argues that the West may be experiencing a turning point, as increasing discontent with state overreach and interventionism emerges. He highlights Argentina's recent shift under Javier Milei, who advocates for deregulation and reduced government, as a potential model for Western nations seeking to reclaim individual freedoms and economic prosperity.
United States Dollar Argentine Peso Apple Inc. Liberal Institute ARG USA DEU LIE Francesco Campanella Bannwart Stefan Daniel Roarty Andreas Ita Andrew Isbester Katharine Neiss Marc Lussy Vivien Jain Guy De Blonay Colin Vidal Elon Musk Mike Judith Mark Denham Marc Reinhardt Brad Slingerlend Maryann Umoren Selfe Teodoro Cocca Patrick Stauber Christine Houston Beat Weiss Ashley Semmens Eric Sarasin Serge Fehr Marionna Wegenstein Harald Preissler Marc Taverner Christopher Gannatti George Muzinich Francesco Magistra Brice Prunas Roman Reigns Judith Wallenstein Leon Curti Charles-henry Monchau Nick Platjouw Ludwig von Mises Nicolas Ramelet Dina Ting Rolando Grandi Karin M. Klossek Bernardo Brunschwiler Fabrizio Pagani Gary D. Burnison Murray Rothbard Shaniel Ramjee Marco Huwiler Gianluca Gerosa Robert Almeida Maria Vassalou Frédéric R Leroux Bruno Cavalier Philip Adler Georg von Wyß Philipp Kaupke Daniel Goleman Javier Milei Dieter Wermuth Ralf Zellweger Jan Boudewijns Martin Velten Brigitte Kaps Roman Gaus Anna Rosenberg Ha Duong Lars Jaeger Andreas Herrmann Frances Weir Nannette Hechler-Fayd'herbe Pascal Mischler Remo Badertscher Grégoire Bordier Dominique Gerster Claudia Kraaz Jared Cook Bertrand Binggeli Thomas Höhne-Sparborth Razan Nasser Luis Maldonado Adriano Lucatelli Alexis Marinof Nicolas Faller Camille Vial Nicolas Forest Thomas Holderegger Manuel Robles Claude Baumann Jan Brzezek Val Olson Serge Becker Mariolina Esposito Sean Hagerty Massimo Pedrazzini Nicolas Moussette Daniel Kobler Lukas Zihlmann Mihkel Vitsur Beat Wittmann Reto Jauch Taimur Hyat Sherif Mamdouh Ralph Ebert Axel Brosey Thomas Signer Alannah Beer Nico Fiore Jian Shi Cortesi Henk Grootveld Vivek Ramaswamy Louise Curran Charlie Munger Christian Kälin Darren Williams Andreas Britt Alina Donets Florin Baeriswyl Konrad Hummler Shanna Strauss Benjamin Melman Adrian Cox Philipp Cottier Olivier Kessler Fernando Fernández Jan Beckers Show more
Revolut has partnered with Binance to list Binance Coin (BNB) for its 40 million global users, allowing trading with fiat and crypto. Despite the listing, BNB's price has fallen by 9.4% to $635, reflecting broader market trends, though trading volume remains robust at over $3 billion. Analysts suggest potential support levels and a long-term price target between $805 and $900 if buying activity increases.
Wall Street faced volatility as the S&P 500 and Nasdaq marked their third consecutive day of losses, while the Dow ended a 10-day losing streak. FedEx surged 8.5% after a strategic spin-off, while Nike shares fell 6% amid a delayed turnaround plan. Novo Nordisk's obesity treatment trial results disappointed, causing its stock to drop, while Berkshire Hathaway increased its stake in Occidental Petroleum.
Solana (SOL) has shown a downward trend, recently revisiting a critical support level around $205, which analysts believe could signal a potential reversal. Key indicators suggest a possible price target of $345, with further bullish patterns hinting at moves towards $400 to $600. Solana's growing adoption, with 53% of global crypto users and a Total Value Locked (TVL) nearing $9 billion, alongside a surge in developer interest, positions it as a strong competitor in the blockchain space.
Ethereum's price has dropped 10% to $3,540 following a hawkish interest rate announcement from the Federal Reserve, impacting other cryptocurrencies as well. Despite this decline, Ethereum's fundamentals remain strong, with significant institutional interest and over $2.46 billion in ETF inflows over 18 days. The staked ETH has surpassed 54.7 million tokens, reflecting long-term investor optimism, while the DeFi ecosystem continues to thrive with a total value locked exceeding $73.7 billion.
Bitcoin spot ETFs experienced record outflows of $671.9 million, with Grayscale Bitcoin Trust losing the most at $208.6 million, amid a price drop to under $93,000. This decline coincided with market volatility and profit-taking ahead of anticipated Federal Reserve rate cuts, which may impact future investor sentiment. Grayscale's holdings have plummeted by 55% in 2024, as investors shift to lower-fee alternatives, raising concerns about potential selloffs due to regulatory scrutiny.
The crypto market experienced a sharp downturn, with Bitcoin plunging nearly 10% to $93,000 and Ethereum dropping almost 15% to $3,100, following the Federal Reserve's hawkish monetary policy update. Over $1.2 billion in liquidations impacted 377,618 traders, primarily affecting long positions. Market analysts highlight increased uncertainty due to the Fed's firm stance and reduced rate cut forecasts for 2025.
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