INCREDIBLE Bitcoin News (Why the Fed Just Awoke BTC & Crypto)
Welcome to your daily crypto wrap up where i give you all the news of the day in three minutes or less. So we'll start by checking out the markets, as always uh we've got bitcoin coming in at 43, 225. The overall market cap back over 2 trillion dollars very significant, that is very significant.
Folks, we've got ethereum coming back and over 3 000 very significant. We have xrp coming in uh, almost back to a dollar very close to a dollar at 98 cents, uh solana, back at 145. When we look at the biggest gainers over the last 24 hours, you will see we have our weave osmo, adam luna iost, making an appearance pretty good stuff avax up 22, we've, got a lot of big movers.
A lot of big movers in between the 10 and 20 range today so market, looking increasingly optimistic, so let's check out the top stories of the day number one story of the day. Here we have crypto market soar after fed commits to printing.
In evergrand, uh and evergrand plans to pay its debt. Now, if you missed it this morning on the live stream, we talked about the ever grand debacle. The large chinese company owns four percent of all real estate out there.
They & # 39, ve got plenty of other, you know they & # 39, ve got their hand in all kinds of business, not just real estate, but here's. What's big this morning, the chinese government committed to pump 19 billion dollars into their banking system to cover the debts of evergrand.
Evergreen says they're, going to pay it off, so it was a bailout. It wasn't directly into evergrand, but this was a bailout and then the most bullish news for crypto today is actually the fed has committed to continuing their monetary policy.
What does that mean? Well, they're, not raising rates. Quite yet it looks like early next year we will get the raise and the rates uh, but you guys know this channel. We definitely believe that uh, you know that doesn't matter.
We think that the deflation is still coming in the fall. So the tapering is something that we want to pay attention to, that'll, be announced. Probably in november uh we have biden joe biden president joe biden old, grandpa joe.
They call him, i think, uh. He's, going to nominate a crypto critic to top to be the top bank regulator. This is the deputy or the chairman of the occ, the office of the comptroller of the currency. This is what brian brooks formerly of coinbase and finance us was in charge of in charge of under the trump administration.
Well, this here is uh cornell university, professor sal amarova, and she said a lot of critical things about the banking infrastructure that we have, but also about crypto, definitely something to watch uh last story of the day, just real, quick, a partner of the channel uh.
If you will crypto.com, they have now announced they're, going to be sponsoring nba's, philadelphia 76ers! They will be a jersey sponsor still not going to help ben simmons hit a shot if he's even on the team, all right guys that's, all we got for today.
Thank you for watching, be blessed big boy out.