In this week’s episode market reportAnalyst Marcel Pechman discussed the strength of Bitcoin (BTC) ahead of the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) meeting, where investors are betting on an interest rate freeze.
Pageman expressed skepticism that recent inflation data suggest the Fed’s 2% target has been achieved, citing the lag in the impact of interest rate changes on inflation and the instability caused by previous rate hikes.
Next, Pageman talked about the decrease in Bitcoin supply on exchanges, which is seen as a bullish sign. However, he doesn’t think this in itself is the reason for Bitcoin’s price surge. Marcel also pondered whether the activity was related to the FOMC meeting, but thought it was unlikely to be a short-term event.
The next topic covered on the show is the SEC’s request to access the Binance.US software. Pechman explained that while the SEC appeared to be facing losses in court, the judge expressed doubts about Binance.US’ control of its assets and requested more evidence.
Pageman speculated that Binance is looking to delay and extend the filing of documents or reorganize its operations. Pageman highlighted the judge’s remarks against Binance and acknowledged the challenges that may be encountered in dismissing the charges, as well as the potential impact on the exchange’s future.
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