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- Crypto-Friendly Robert F. Kennedy Jr. Ends Independent Bid, Endorses Trump!
Crypto-Friendly Robert F. Kennedy Jr. Ends Independent Bid, Endorses Trump!
Robert F. Kennedy Jr. has suspended his independent presidential campaign and endorsed Donald Trump in key battleground states, citing a lack of a viable path to victory and aiming to prevent a Democratic win.
Steven Walgenbach
August 24, 2024
Breaking Crypto Stories
Here are the top stories today:
Robert F. Kennedy Jr. Backs Trump, Suspends Independent Campaign
US Bitcoin Buyer Interest Peaks as Fed Signals Rate Cuts
Tether Aids Law Enforcement in Recovering $108.8 Million USDT Linked to Illegal Activities
🛑 Robert F. Kennedy Jr. Backs Trump, Suspends Independent Campaign
Robert F. Kennedy Jr. has suspended his independent presidential run, endorsed Donald Trump in crucial battleground states to prevent a Democratic win, and plans to join Trump's administration, despite his family's Democratic legacy.
Robert F. Kennedy Jr. has ended his independent presidential campaign and is urging his supporters to vote for Donald Trump in battleground states to avoid aiding a Democratic victory.
Kennedy, citing challenges and a lack of viable path to victory, will withdraw his name from ballots in 10 key states, but will remain on the ballot elsewhere.
Despite Kennedy's historic Democratic ties, he plans to support Trump's campaign and join his administration if elected, as Trump is increasingly involved in the crypto sector.
🤑 US Bitcoin Buyer Interest Peaks as Fed Signals Rate Cuts
US Bitcoin buyer interest surged to a 39-day high after the Federal Reserve signaled potential interest rate cuts, driving Bitcoin's price close to $65,000, though concerns about mining costs and market volatility persist.
Bitcoin buyer interest in the US reached a 39-day high following the Federal Reserve's indication of upcoming interest rate cuts, with the Coinbase Premium Index spiking to its highest level since July 15.
The Fed's announcement at the Jackson Hole symposium about a likely adjustment in policy led to Bitcoin's price climbing to nearly $65,000, reflecting increased investor demand.
Despite the recent surge, Bitcoin's price remains volatile, with concerns about mining costs and potential selling pressure from miners impacting the market.
👮 Tether Aids Law Enforcement in Recovering $108.8 Million USDT Linked to Illegal Activities
Tether has supported global law enforcement in recovering over $108.8 million USDT linked to illegal activities, including recent aid in seizing funds from romance scams, highlighting its commitment to fighting cryptocurrency-related fraud.
Tether has assisted over 145 law enforcement agencies in recovering more than $108.8 million USDT related to illicit activities since its inception in 2014.
The company has blocked over 1,900 cryptocurrency wallets involved in illegal activities and recently helped the DOJ seize $5 million USDT from romance scammers.
Romance scams, particularly "pig-butchering," have seen a significant rise, with Tether's support playing a crucial role in combating these and other forms of cyber-enabled fraud.
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Ethereum (ETH)
Price Movements: Ethereum (ETH) is currently experiencing a gradual upward movement on the 4-hour chart, reflecting a growing bullish sentiment in the market. The recent price action suggests that if this momentum continues, ETH could see further gains. Supporting this outlook, technical indicators such as the Exponential Moving Averages (EMAs) and the Moving Average Convergence Divergence (MACD) are aligned in a way that typically signals a continuation of the bullish trend, leaving room for Ethereum to rise further.
Key Levels To Watch: Traders should closely monitor several key levels in the upcoming sessions. On the upside, resistance levels are located at $3066.83, $3083.47, and $3122.76. A successful break above these levels could signal the continuation of the bullish trend. On the downside, support levels are at $2644.65, $2599.4, and $2584.53. Should Ethereum fall below these support levels, it may indicate the start of a bearish reversal. These levels are critical in determining the next significant price movements and overall market direction for ETH.
Trade Strategies: For those looking to capitalize on Ethereum's current price movements, entering a long position could be considered if ETH breaks above the $3066.83 resistance level, with a potential target around $3122.76. On the other hand, traders interested in short positions should watch for a break below the $2599.4 support level, which could provide an entry point for a potential downside move. For those already in long positions, setting stop-loss orders just below the $2644.65 support level could help protect against possible downside risks, ensuring that gains are preserved in the event of a market reversal.
Pepe (PEPE)
Price Movements: PEPE has shown strong upward momentum on the 4-hour chart, with a series of higher lows indicating continued bullishness. The price is currently testing significant resistance levels, suggesting a possible breakout or consolidation phase.
Key Levels To Watch: Resistance levels to monitor are $0.00000930, $0.00000941, and $0.00000956. On the downside, key support levels are $0.00000906 and $0.00000866. A breakout above $0.00000930 could signal further gains, while a break below $0.00000906 might indicate a bearish reversal.
Trade Strategies: For long positions, consider entering around the $0.00000906 support with targets at $0.00000930 and $0.00000941, placing stop-loss orders just below $0.00000906. For short positions, watch for a potential reversal near $0.00000930, targeting $0.00000906, with stops placed above $0.00000941 to manage risk.
Bitcoin (BTC)
Price Movements: Bitcoin is currently in a consolidation phase, with prices fluctuating slightly around key moving averages. The convergence of the 9-period and 20-period EMAs suggests a balance between buying and selling pressure, indicating potential for a significant move in either direction. The MACD indicator shows bullish momentum, but the slowing pace could signal caution for traders.
Key Levels To Watch: On the upside, watch for resistance at $64,520, with further targets at $65,354 and $65,701. On the downside, key support levels are $63,732, $63,538, and the crucial $62,906. These levels will likely dictate Bitcoin's short-term price action, as a breakout above or below could set the tone for the next significant movement.
Trade Strategies: For long positions, consider entering on a breakout above $64,520, targeting $65,354 and $65,701, while being cautious of a potential reversal. For short trades, a break below $63,732 could offer an opportunity, with the $62,906 support level as a target. Traders should exercise prudent risk management given the current volatility and mixed signals from the indicators.
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