🇺🇸👀 #macro Fed:
- Inflation is approaching the target of 2%;
- Labor market conditions have improved;
- Economic activity continues to grow at a strong pace, but prospects have not yet been determined.

🇺🇸🤔 Powell's press conference is ahead

🔎📊 Top altcoins with the highest correlation with #BTC over the last 30 days

When we analyze the 10 sub-coins in the correlation matrix, we see that #DOGE has a very high positive correlation with Bitcoin at 0.92. As Bitcoin rises, so does DOGE.

📈🤔 #ETH IntoTheBlock: High fees on Ethereum previously held back derivatives' growth, but with the popularity of Layer-2s, costs have dropped significantly.

This shift has fueled a surge in derivatives protocols, driving impressive growth in the space since the start of the year.

🇺🇸🗣 Key Takeaways from Jerome Powell’s FOMC Meeting:

▫️ US Economic Strength: Powell emphasized the economy's resilience as the basis for current Fed actions.

▫️ Inflation Decline: Inflation has eased but is not yet at the 2% target; the Fed remains confident it will continue to decrease.

▫️ Stable Labor Market: The labor market, typically inflationary, is not currently adding inflationary pressure, with high employment levels not driving price increases.

▫️ Core Inflation Still High: Core inflation (excluding energy and food) remains elevated, necessitating the Fed’s restrictive monetary stance.

▫️ Election Impact: Upcoming elections will not affect the Fed’s short-term policy, which is focused on economic data over politics.

▫️ Uncertain Long-Term Forecasts: Powell stressed the uncertainty in long-term projections, with potential changes due to external factors.

🗽👀  Detroit will begin accepting cryptocurrency to pay taxes and fees next year. theblock

✅ #SKY #MKR Nearly 80% of the vote was in favor of keeping the "Sky" brand intact.

📊👀 #BTC IntoTheBlock: The number of short-term Bitcoin holders is increasing rapidly.

This pattern is often seen in bull markets, as new participants join in response to rising prices.

📈👀 #BTC approached the $77K mark following a second consecutive FOMC meeting that led to a rate cut. Markets continue to rally, with discussions now focusing on the potential for BTC to reach six-figure valuations.

📈🤔 #BTC Alphractal: 99.99% of Bitcoin addresses are currently in profit, a level that typically lasts no more than two days before corrections. Historically, high profit percentages signal local tops, suggesting it may be time to consider partial selling.

🥳👀 #BTC Jack Dorsey's Square intends to increase investment in Bitcoin mining and shut down decentralized web enterprise 'Web5' coindesk.com

🎢🤔 Ali Martinez: Altseason hasn’t even begun!

We’re in that part of the cycle where #BTC is still outpacing #ETH—totally normal at this stage. This could be the ideal time to stack up on altcoins, as history shows that altseason often follows shortly after.

🥳👀 #BTC #SOL Solan climbs above $200, Bitcoin hits new high amid extended post-election rally theblock.com

🔫 WonderFi CEO kidnapped in Toronto and released after paying a ransom. cointelegraph.com

🇺🇸🍿 So far, 281 pro-crypto candidates have won seats in Congress, with 263 elected to the House of Representatives and 18 to the Senate. news.bitcoin

📝 #ETH Ethereum Foundation publishes 2024 report: 99.45% of the $788.7 million asset reserve is ETH.

🔝 Top #dApps by monthly total revenue #AERO #SKY #ENA

📊 Santiment: The most talked about assets are #BTC and #ETH. At the same time, #SOL, #XRP, #DOGE are discussed less actively, but prices are still rising.

🕵️‍♂️ LoC: Tether Treasury transferred another $565 million to exchanges.

🇺🇸📉 Cryptorank: TVL Polymarket fell by half after the end of the US elections.