A decent down day on Friday couldn’t derail the strong weekly results for the markets! John O’Donnell joins Merlin for a look at interest rates, the Fed, inflation, gold and other factors influencing current market dynamics.
Author
Ripple (XRP) remains under pressure, slipping below $1.500 while Stellar (XLM) extends its rebound, trading around $0.227 but facing resistance amid mixed market sentiment. Rising US Treasury yields and mixed derivatives metrics continue to weigh on risk appetite, leaving traders cautious for both tokens.
Pi Network (PI) ticks lower on Thursday after two consecutive days of mild recovery, testing the 50-day EMA at $0.0917. Pi Core Team announced a partnership with Open Standard on Wednesday to explore the OUSD stablecoin reward programs for Pi Network users, commonly referred to as Pioneers, and its utility across the Pi ecosystem.
Bitwise CIO Matt Hougan stated Wednesday that the crypto market has rallied since the US Senate failed to advance the CLARITY Act, arguing that the legislation’s collapse allowed regulators to move faster on industry rules. Hougan noted that Bitcoin has gained 8% and Ethereum 7% since the vote, while several altcoins posted larger gains.
