The Bad Crypto Podcast EP 757: Ho Ho Hodl: Surviving Jerome Powell’s Economic Chill
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Dec 24, 2024 Panic brews as some fear the end of the bull run, but Michael Saylor is still stacking Bitcoin. Exciting insights surface on the potential for a U.S. Bitcoin reserve amidst holiday cheer. Solana breaks records in daily transactions, highlighting its growing popularity. The hosts tackle the Federal Reserve's policies while blending humor with discussions on conspiracy theories that fuel public mistrust. And they celebrate the season with a twist on a holiday classic, ensuring laughter and crypto knowledge go hand in hand.
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Crypto Market Downturn
- The cryptocurrency market is experiencing a downturn as of December 23, 2024.
- Bitcoin and other altcoins have seen significant price drops.
Market Impact of Powell's Statement
- Jerome Powell's announcement of limited interest rate cuts and the Fed's inability to hold Bitcoin impacted the market.
- However, the U.S. government might still find ways to hold Bitcoin as a reserve asset.
North Korean Hacking Threat
- Bitcoin and crypto markets dipped following North Korean hacking threats.
- Hyperliquid experienced $112 million in outflows, though they deny being attacked.