🎈 Up Big Today: Find today's biggest gainers (some over 50%!) with our free screenerTry Stock Screener

Jerome Powell's Crucial Statements Send Ripples Through Crypto Market, Shiba Inu Eyes Birthday Rally, Here's How Much Bitcoin BlackRock Currently Holds: Crypto News Digest by U.Today

Published 08/02/2024, 12:29 PM
Updated 08/02/2024, 04:00 PM
© Reuters Jerome Powell\'s Crucial Statements Send Ripples Through Crypto Market, Shiba Inu Eyes Birthday Rally, Here\'s How Much Bitcoin BlackRock Currently Holds: Crypto News Digest by U.Today
BLK
-
BTC/USD
-
SHIB/USD
-

U.Today - U.Today presents to you the top three stories over the past day; don't miss this piece!

Powell sending ripples through crypto market with crucial statements

During a news conference held on Wednesday, July 31, Federal Reserve Chair Jerome Powell stated that the central bank could execute a much-awaited rate cut this September. Powell pointed out that the economy is now "moving closer" to the point where it would be appropriate to lower the present policy rate, "but we’re not quite at that point." Previously, July was discussed as the month to implement the first rate cut; however, the Fed has unanimously decided to wait until the next meeting. Meanwhile, following Powell's speech, the likelihood of a September rate cut currently stands at 93.5%.

Shiba Inu eyes birthday rally, if SHIB price history proves itself

This month, August 2024, Shiba Inu meme crypto is celebrating its fourth anniversary. As the SHIB community is celebrating, investors are closely watching the SHIB token's price chart in anticipation of a potential rally. Based on Shiba Inu's history, August has always been a good month for the token, with an average return of 2.7% and a median return of 3.4%. It is rare for both the median and the average to be positive, which tends to support expectations. Due to this rarity, there is a higher chance that SHIB will close August on a positive note, raising optimism for a bullish trend as the summer ends.

Here's how much Bitcoin BlackRock (NYSE:BLK) currently holds

On the BTC ETF market, the superiority belongs to the BlackRock iShares Bitcoin Trust (IBIT). According to recently released data on the asset manager's total Bitcoin holdings, they have grown to over 343,000 BTC. The precise amount of Bitcoin in BlackRock's possession constitutes 343,387.46220 BTC. At the current BTC price of $63,285, the holding is valued at $21,706,544,778.72 as of Aug. 1, 2024. In the meantime, as for its holdings in USD Cash, BlackRock holds a significant 326,384.95000 worth $326,384.95 in its portfolio.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.