BIG BITCOIN NEWS!

Market Update

• Bitcoin price volatile, reaching $104,000 after FOMC meeting
• Jerome Powell states no need to wait for 2% inflation to cut interest rates
• Market reaction: slight pump, nothing concerning said by Powell

Earnings and Economy

• Big earnings announced, including Microsoft, Meta, Tesla, and Apple
• Bank of Canada cuts rates by 25 basis points, quantitative tightening announced
• $1 billion USDT minted at Tether Treasury, first time this year

Bitcoin Adoption

• Utah House committee passes bill to allow state to invest in Bitcoin and digital assets
• Ohio strategic reserve bill passes out of committee
• Czech Republic may buy billions of euros in Bitcoin, central bank head confirms interest
• Nations, states, and pensions researching Bitcoin adoption

Regulatory News

• Gary Gensler returns to MIT as professor, focusing on AI, finance, and public policy
• SEC policies on Bitcoin and crypto to be taught and researched by Gensler

Future Outlook

• Market to turn ultra bullish when quantitative tightening stops and quantitative easing begins
• Federal Reserve has room to reduce interest rates later, potentially lengthening bull market cycle
• Excitement and positive news to build up over time, leading to potential bull market