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Bitwise Analyst Explains Why Bitcoin Could Not Rise, Lists His Expectations!

The US Presidential elections held last November, which resulted in Donald Trump`s victory, brought an increase in both the dollar and cryptocurrencies such as Bitcoin. As the dollar continued to strengthen after Trump`s victory, analysts said that this rise in the dollar was similar to the rise experienced after Trump`s victory in 2016. When Trump was first elected president in 2016, the DXY peaked in December but fell over the next 12 months. The dollar’s decline coincided with Bitcoin’s rise in 2017. At this point, although there is an expectation in the market that the same situation will happen now, this time the story of the dollar and Bitcoin may be different. Because experts stated that there are no signs of decline in the DXY yet and that Trump`s economic policies and FED decisions may support the rise of the dollar. While a strong dollar is considered a negative for risk assets like Bitcoin, incoming Trump’s support for Bitcoin has brought new ATHs. But while Trump has expressed support for Bitcoin, Bitwise Europe head of research Andre Dragosch said a strong dollar and Fed policies could pose challenges for Bitcoin in 2025. He said the rally in Bitcoin will not continue at the same pace due to a stronger dollar, higher yields and geopolitical uncertainties. “The Fed is caught between two choices: Do too little, act too late and risk a recession in the U.S., or risk a significant acceleration in inflation again. The Fed told markets at its last meeting that they would only make two rate cuts in 2025. That`s why the dollar is appreciating and yields are continuing to rise. “I think the thing that is also affecting BTC and bringing it down is the dollar rising. The macroeconomics are currently a headwind for Bitcoin.” *This is not investment advice. Continue Reading: Bitwise Analyst Explains Why Bitcoin Could Not Rise, Lists His Expectations! Coincu

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Kekius Maximus Memecoin Dips 70% After Elon Musk Changes X Profile Name

Ethereum frog-based memecoin Kekius Maximus’s market cap has fallen nearly 70% in the last 24 hours following Elon Musk’s X profile name change. It has gone from an all-time high market cap of $380 million to $121 million, according to CoinGecko data . The memecoin’s price surged by over 3,000% to $380 million from $12 million after Elon Musk changed his X profile name to Kekius Maximus on Dec. 31st and endorsed it with a series of tweets. First, a picture of a frog in knight armor with the caption “Brothers in arms” and another saying Kekius Maximus will soon reach level 80 in hardcore PoE. However, the joy was shortlived after Musk changed his name on Jan. 1, immediately sending the coin dipping by over 50% to a $82 million market cap. It reverted briefly to $170 million on Jan. 2, before dipping again to around $121 million currently. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io Coincu