Jerome Powell

Bitcoin

Terra

<h2 id="powell-deems-rate-cut-speculation-premature-us-fed-chair">Powell deems rate cut speculation 'premature' - US Fed Chair.</h2>
<ul>
 <li>Bitcoin, the world's oldest and most valuable cryptocurrency, reached a 19-month high, hitting the $39,000 mark during the Friday U.S. session.</li>
 <li>Several popular altcoins, including Ethereum, Solana, Terra Luna, Litecoin, and Chainlink, experienced marginal gains.</li>
 <li>Among these, the beam token emerged as the most significant gainer, showing a 24-hour increase of over 15.80%.</li>
 <li>On the flip side, Sei emerged as the biggest loser on Friday, experiencing a 24-hour dip of nearly 4.77%.</li>
</ul>
<h3 id="span-span-style-font-size-18px-crypto-fear-and-greed-span-span">Crypto Fear and Greed:</h3>
<img src="https://lh7-us.googleusercontent.com/iSWpSp2-bY2wKYq2cA8X33QLqmLPO_rPFkvHtH1ybgTNP8ev-aMzsLhVY3Ma8_rUiwj394XYX4Ws-97ztDPtceqQXtUpqcwat7ToXhXg85hcdnz-YRiN5-Hwpg1y8zKJpbbe0xaiHedfvma9rI5Jcj8" width="567" height="228"> 
In the last 24 hours, the cryptocurrency markets experienced a buying, leading to a 3-point increase on the "Greed and Fear Index." This has brought the current reading to 74 on the scale ranging from 0 to 100.
<h4>Latest Market Update:&nbsp; <strike></strike> <strike> </strike></h4>
<ul>
 <li>The total cryptocurrency market volume in the past 24 hours amounts to $65.00 billion, reflecting a 2.20% increase.</li>
 <li>DeFi contributes $5.11 billion to the total volume, representing 11.40% of the overall cryptocurrency market 24-hour volume.</li>
 <li>Stable coins contribute $39.02 billion to the total volume, constituting 86.99% of the total cryptocurrency market 24-hour volume.</li>
 <li>Bitcoin's dominance stands at 53.28%, marking a 0.61% increase over the day.</li>
</ul>
<h4>Major Worldwide News Update:</h4>
<ul>
 <li><a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-daily-roundup-dec-all-eyes-on-fed-market-holds-its-breath" rel="noopener noreferrer nofollow">Fed Chair Jerome Powell</a> rejects speculation of imminent rate cuts, emphasizing a need for sustained inflation improvement. Despite positive indicators, Powell stresses a cautious approach to policy, acknowledging risks. Markets respond positively, viewing his comments as dovish, with stocks rising and Treasury yields falling. Traders anticipate a halt to rate hikes and potential cuts in 2024. Powell remains data-dependent in decision-making.</li>
 <li>The SEC faced a setback as a federal judge criticized its attorneys for making "materially false" representations in a crypto firm case, leading to the freezing of millions in assets. This adds to recent legal challenges, including Ripple's partial victory and cases against Binance and Coinbase.</li>
 <li>FTX's ex-CEO, <a href="https://www.coingabbar.com/en/crypto-currency-news/sam-bankman-frieds-bail-has-been-revoked-sent-to-jail" rel="noopener noreferrer nofollow">Sam Bankman-Fried</a>, opts not to file post-trial motions after his federal fraud conviction. Facing a potential 115-year sentence, his sentencing is set for March 28, with uncertainty around a second trial. Bankman-Fried's incarceration raises concerns amid attempts of extortion reported from jail.</li>
 <li><a href="https://www.coingabbar.com/en/crypto-currency-news/hacker-appeals-for-civil-talks-after-47m-dollar-kyberswap-heist" rel="noopener noreferrer nofollow">KyberSwap</a>, the decentralized exchange, responds to a recent security breach by pledging reimbursement to affected users, following an unrealistic demand from the hacker to take over Kyber Network. The exchange plans to grant affected users an amount equivalent to their lost funds and collaborates with law enforcement for recovery.</li>
 <li>Investors are closely watching significant token unlock events this week, notably ImmutableX (IMX), 1INCH, and dYdX (DYDX), releasing a combined $105 million into circulation. IMX's unlock alone, on December 1, injects $49.17 million. The market anticipates various other unlocks, influencing investor sentiment and impacting individual asset prices and the overall market.</li>
 <li>Ripple's Chief Legal Officer, Stuart Alderoty, highlights "troubling patterns" in SEC-led crypto lawsuits, including inconsistent arguments and a lack of faithful allegiance to the law. Cases involving Coinbase, Ripple, and Grayscale show a court-acknowledged failure to respond in good faith and arbitrary treatment. These discrepancies may impact the SEC's crypto lawsuit outcomes.</li>
 <li>Ripple's CLO, Stuart Alderoty, exposes "troubling patterns" in SEC-led crypto lawsuits, citing inconsistent arguments, lack of faithful allegiance to the law, and failure to respond in good faith to petitions. The court scrutinizes SEC's treatment of Coinbase and Grayscale, potentially impacting the agency's operations and its chairman's role.</li>
 <li>Grayscale Investments appoints John Hoffman, former head of Invesco's Americas ETF team, as Managing Director and Head of Distribution and Partnerships. Hoffman's extensive ETF experience aligns with Grayscale's push for a spot Bitcoin ETF, intensifying competition among asset managers seeking SEC approval. Ongoing dialogue with the SEC continues amid industry-wide efforts.</li>
 <li>The current Bitcoin dominance, exceeding 50%, may indicate an imminent shift towards altcoins. A BTC dominance chart, resembling sine waves, suggests a cyclical pattern favoring altcoin seasons. Historically, such shifts occur every few years, aligning with market cycles, and the approaching $40,000 Bitcoin level could trigger the next altcoin season.</li>
 <li>The SEC's lawsuit against Kraken for alleged unregistered securities exchange operation reflects regulatory overreach and a failure to understand cryptocurrency's unique nature. Similar to its actions against Coinbase, the SEC's approach lacks technological neutrality, hindering innovation and risking businesses relocating to more crypto-friendly jurisdictions. This aggressive stance may undermine the U.S.'s leadership in technological innovation.</li>
</ul>
COIN GABBAR Views: Is Bitcoin experiencing its lowest November gains, and can it anticipate a 'Santa Rally'? Is the BTC price in good health, and is there a possibility of hitting $50k by the end of December? With Bitcoin reaching a 19-month high in December, could the bull rally be on the horizon? To get latest news Stay tuned us at <a href="https://www.coingabbar.com" rel="noopener noreferrer nofollow">coingabbar</a> 
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
For More News: <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-daily-roundup-dec-all-eyes-on-fed-market-holds-its-breath" rel="noopener noreferrer nofollow">Crypto Daily Roundup, 01 Dec: All Eyes on Fed: Market Holds Its Breath</a>

24 Crypto Update, 01 Dec: Fed Boost Ignites Crypto Market Rally!

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