

Bitcoin and Other Cryptocurrencies Held Steady during the Weekend as Investors Cheered Donald Trump's and Robert Kennedy's Speeches at a Major Conference in Tennessee
Trump and Kennedy are bullish on Bitcoin In their speeches, the two presidential candidates vowed to protect Bitcoin if elected in November.
Bitcoin and other major cryptocurrencies remained largely unchanged during the weekend as investors reacted to Donald Trump’s and Robert Kennedy’s speeches at a major conference in Tennessee.
Trump and Kennedy expressed support for Bitcoin in their speeches. The two presidential candidates vowed to protect Bitcoin if elected in November. Among other things, they said that they would build Bitcoin reserves for the US government. Such a move would mirror the government’s gold holdings.
To be clear: the US government is still one of the biggest Bitcoin holders in the world. Data compiled by BitcoinTreasuries shows that the government now holds over 213,000 coins, which are currently valued at $13.6 billion.
The government could decide to move these coins to the Federal Reserve or sell them as Germany did in July.
Other tokens reacted well to Trump’s speech. Bitcoin Cash price rose to $421 on Monday morning, marking its highest level since June 14th while Justin Sun’s Tron (TRX) rose to $0.14, which was just a few points below its all-time high of $0.145. JasmyCoin (JASMY) and Kaspa rose to $0.032 and $0.20, respectively.
Federal Reserve and top corporate earnings
These tokens will have two main catalysts this week. First, they will react to the upcoming earnings by some of the biggest American companies like Microsoft, Apple, Meta Platforms, and Amazon.
These earnings will notably have an impact on Wall Street as we saw last week when Tesla and Google published their numbers leading to a deep dive.
If the earnings are good, chances are that Wall Street stocks will jump. In some instances, a vibrant Wall Street leads to positive outcomes in the crypto market.
The other big event this week will be the Federal Reserve, which will deliver its interest rate decision on Wednesday. This decision will come a few days after the US published encouraging Q2 GDP data, which showed that the economy expanded by 2.8% after growing by 1.3% in Q1.
The US also released an encouraging personal consumption expenditure (PCE) report, which confirmed that inflation was falling.
Therefore, the expectation is that the Federal Reserve will leave rates unchanged and hint that it will start cutting rates in its September meeting.
If this happens, chances are that cryptocurrencies like Bitcoin, BCH, Tron, Jasmy, and Kaspa will continue their recovery. A key catalyst for this trend is that investors have allocated over $6 trillion in money market funds to benefit from the 5.5% Fed rates.
As such, some of these investors will now move to riskier assets like stocks and cryptocurrencies when the Fed starts to unwind its interest rates.
The above is the detailed content of Bitcoin and Other Cryptocurrencies Held Steady during the Weekend as Investors Cheered Donald Trump's and Robert Kennedy's Speeches at a Major Conference in Tennessee. For more information, please follow other related articles on the PHP Chinese website!

The value of blockchain-based U.S. Treasuries is closing in on a new milestone, with total holdings approaching $6 billion.

Canary Capital is looking to launch an exchange-traded fund (ETF) tracking the price of Tron's native token, TRX, according to a filing.

The stablecoin market has surpassed a total capitalization of $233 billion. Within this sector, Solana's stablecoins have reached a new all-time high market capitalization of $12.73 billion

Canary Capital is looking to get the U.S. Securities and Exchange Commission's sign-off for an exchange-traded fund that would track the Tron token TRX and has a staking component.

In an April 18 X post, Soto-Wright said he wanted Congress to “keep state-regulated issuers in the game” when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework.

Saylor's ideas centre on the fixed 21 million coin supply of Bitcoin. He presents this shortage as a revolutionary economic idea rather than only a technical one.

The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.

The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

SublimeText3 Linux new version
SublimeText3 Linux latest version

Dreamweaver Mac version
Visual web development tools

ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment

SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

SublimeText3 Mac version
God-level code editing software (SublimeText3)