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Why is #bitcoin☀️ crashing? Isn't there an inverse relationship between BTC and USD? The dollar took some hits this week, so I was just wondering. I thought #bitcoin☀️ would be going up now. 

It also seems like the #FederalReserve is taking too long to consider an interest rate cut.  Maybe they will cut too late?

Please share your thoughts...

 

 

Citigroup ordered to pay $60 Million Today, July 10, 2024

Today, the #FederalReserve ordered Citigroup to pay a civil money penalty of $60,625,620 for various deficiencies. Citigroup agreed to pay the fine without admitting or denying the allegations.

Details of violations are as follows:

1. On October 7, 2020, Citigroup consented to an Order to Cease and Desist issued by the Board of Governors (the “2020 Order”) based on significant ongoing deficiencies in implementation and execution by Citigroup with respect to various areas of risk management and internal controls, including for data quality management and regulatory reporting, compliance risk management, capital planning, and liquidity risk management;

2. On October 7, 2020, Citibank consented to the issuance of a Consent Order by the Office of the Comptroller of the Currency (the “OCC”) to remedy deficiencies in its risk management, internal controls, and data governance and to the assessment of a $400 million civil money penalty (the “OCC Orders”).

3. An examination conducted by the Federal Reserve Bank of New York (“Reserve Bank”) in 2023 found that Citigroup had ongoing deficiencies in data quality management and ineffective compensating controls to mitigate associated risks.

4. An examination conducted by the Reserve Bank in 2023 regarding Citigroup’s remediation efforts related to the 2020 Order (the “2020 Order execution exam”) found that Citigroup’s progress in executing its plan to enhance its data quality management program under paragraph 4 of the 2020 Order, or toward the implementation of appropriate compensating controls has not been adequate.

Watched #bnb free fall from 13:00 UTC to about 13:20 UTC.

Wondering where the end is or where it will rest for a while.

Now, seeing this "W" form. I don't know the fancy name for it is... but my simple strategy is to generally buy on the W formation.

But, patience is a virtue.

Waiting to see what the next two movements are before jumping in.

Ideally, a wonderful level of support could form. That may make me buy.... or it could free fall again.

But one can't live "wondering"... must take an educated, strategic chance...

Will use #PancakeSwap's Prediction for a bet up on the next W.

I am not an investment expert, but here are a few things I appreciate when trading or using #PancakeSwap's Prediction:

1. Don't force a trade.

2. Follow a strategy where you spot a trend.

3. Trade during that trending period.

4. Don't take more risk than your strategy suggests.

5. Wait it out until you see another trend.

You can make good gains being disciplined.

Good luck!

Is #pepe⚡ due for a sharp rise or fall?

Recently, I bought #pepe⚡ when it fell... well when everything was falling a few days ago.

While it started rising again, I think it may be subject to volatility this week when the consumer price index and producer price index info is released on July 11 & 12.

If #pepe⚡ falls again at the end of the week, I wonder if it will experience a sharp rise after that.

Any thoughts?

Market volatility expected today, Friday, June 21, 2024. Crypto will likely experience a similar volatility. If you play the #Prediction game on #PancakeSwap , Friday may be in your favour : )

See Bloomberg article below for what is expected.

US Markets Will Be Closed On June 19, 2024

See below:

ZK launch postponed again on June 17, 2024 to 10:00 UTC.

Meanwhile, see ZK on Coinmarketcap:

Update: #ZK launch postponed by one hour, June 17, 2024.

See below.

I understand that Binance will list ZKsync.

Based on the comments on different platforms, few people seem to trust this token.

Be careful out there....

Producer Price Index Declines

The US Bureau of Labor Statistics said on July 13, 2024 that "The Producer Price Index for final demand declined 0.2 percent in May, seasonally adjusted."

The Bureau added:

"Product detail: Nearly 60 percent of the May decrease in the index for final demand goods can be traced to a 7.1-percent decline in prices for gasoline.

The indexes for diesel fuel, chicken eggs, electric power, jet fuel, and basic organic chemicals also fell.

Conversely, prices for cigarettes rose 3.3 percent.

The indexes for hay, hayseeds, and oilseeds and for residual fuels also moved higher.

Final demand services: Prices for final demand services were unchanged in May after increasing 0.6 percent in April. In May, the indexes for final demand trade services and for final demand services less trade, transportation, and warehousing rose 0.2 percent and 0.1 percent, respectively.
(Trade indexes measure changes in margins received by wholesalers and retailers.)

In contrast, prices for final demand transportation and warehousing services fell 1.4 percent.

Product detail: Within the index for final demand services in May, margins for fuels and lubricants retailing jumped 12.2 percent.

The indexes for food and alcohol retailing; outpatient care (partial); automobiles and automobile parts retailing; and apparel, footwear, and accessories retailing also advanced. Conversely, prices for airline passenger services fell 4.3 percent. The indexes for machinery and vehicle wholesaling, professional and commercial equipment wholesaling, portfolio management, and truck transportation of freight also declined. "

The Producer Price Index, which will be released at 8:30 a.m. Eastern today, June 13, 2024, has been described as a pre-indicator of inflation. (Overall, as prices rise for domestic producers, these are expected to be passed on to consumers.)

According to the US Bureau of Labor Statistics, the producer price index has a different composition than the consumer price index released yesterday, June 12, 2024.

The BLS explained that one difference is that "the CPI includes within its scope goods and services purchased by domestic consumers and therefore includes imports. "

The BLS added:

"The PPI, in contrast, does not include imports, because imports are by definition not produced by domestic firms.

Imports compose a substantial portion of the CPI, especially within the apparel and new-cars component, and their inclusion in the CPI and exclusion in the PPI for personal consumption causes a substantial difference between the two indexes.

A final difference in scope between the PPI and the CPI occurs for services whose prices contain an interest rate component. The CPI’s scope excludes changes in interest rates or interest costs. The scope of the CPI includes services, such as banking services and insurance services, whose prices have an interest rate component, but the interest rate component of these services is not included in the index.

The scope of the PPI also encompasses services whose prices include an interest rate component, but this index includes the interest rate component of those prices. Banking services account for approximately 4 percent of the PPI for personal consumption, and insurance services compose 3.8 percent. Within the PPI, changes in interest rates will affect price indexes for banking and insurance. The scope of the CPI includes some banking services, such as ATM fees, and many insurance services; however, the interest rate component of these services is not included. Changes in interest rates therefore do not affect the CPI."

Another useful summary is provided by Investopedia below:

Here is the Federal Reserve's Actual Statement, June 12, 2024:

"Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been modest further progress toward the Committee's 2 percent inflation objective.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals have moved toward better balance over the past year. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks.

In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.

In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments."

Here are economic projections from members of the Federal Reserve for their meeting today, June 12, 2024.

For more details, see the below link:

https://www.federalreserve.gov/newsevents/pressreleases/monetary20240612b.htm

Here are the consumer price index (CPI) numbers this morning, June 12, 2024 , as per Bloomberg.

Here’s what the #FederalReserve usually says when interest rates are maintained and what you can EXPECT to hear from them at 2pm today (June 12, 2024):

#Inflation remains elevated.

The Committee remains highly attentive to inflation risks.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run.

In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.

The Committee will continue to assess additional information and its implications for monetary policy.

In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.

In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.

Of course, the Fed also considers geopolitical risks (overseas tensions, war, etc).

Let's see what they actually say at 2pm!

I would avoid rushing into any new positions this morning.

I would wait for the drop.

Then make your own informed, carefully considered decisions...

Good luck!

#bitcoin☀️ #PEPE and other coins will fall today and tomorrow because of #volatility . This is mostly due to:

1. Consumer Price Index published at 830am.
2. Federal Reserve Announces Interest Rate Decision at 2pm.

Volatility doesn't end there, however. because tomorrow, the Producer Price Index data will be available at 830am.

When these coins recover by June 14, they will likely be headed to a good place. Enjoy the ride!