BlackRock in the foreground

20.09.2023

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The blockchain world has been rocked by rumors that one of the world’s largest investment management firms, BlackRock, has made a major investment in the cryptocurrency market.

According to some sources, BlackRock has purchased a total of 12,200 Bitcoins, marking a significant step in institutional adoption of the leading cryptocurrency. As is often the case, these rumors have sparked a frenzy of speculation within the cryptocurrency community.
If this news turns out to be true, it will be an unprecedented vote of confidence in the future of Bitcoin from one of the world’s most powerful financial institutions. As we know, BlackRock is not new to the world of cryptocurrencies, as the company has been researching and closely tracking the sector in recent years.

However, BlackRock has not yet officially confirmed these rumors, and, most likely, this is not true, since such volumes of purchases could not go unnoticed by trading algorithms. As a rule, such transactions in the financial markets of cryptocurrencies involve large trading volumes, but this has not yet been observed.

Market reviews

Bitcoin Uncertainty

Bitcoin (BTC) experienced a decline in early trading on Friday, September 6, following a more than 3% drop the previous day. Market participants had anticipated a 25 basis point reduction in the federal funds rate, which could potentially boost the legacy cryptocurrency. However, Bitcoin has fallen around 24% since its record high on March 14, due to a lack of new narratives to drive bullish sentiment.

Oil Market Shake-Up: Buy or Sell?

Oil prices have been trending lower recently, influenced by expectations of an increase in OPEC+ production from October. Also, signs of weak demand in major economies such as China and the United States have raised concerns about future consumption growth.

Gold and Silver are rising again

The gold market is currently experiencing positive momentum, with prices trading in favorable territory on the daily chart. Despite being constrained by a five-month-old ascending channel’s upper boundary and the all-time high, the overall outlook remains bullish due to recent events.

YEN’s Growth Ambitions

The USDJPY currency pair experienced a significant decline following Federal Reserve Chair Jerome Powell’s dovish remarks last Friday. This downward trend continued into the morning of August 26, exacerbated by escalating geopolitical tensions between Israel and Hezbollah over the weekend. Analysts from Oversea-Chinese Banking Corporation (OCBC), Frances Cheung and Christopher Wong, have noted these developments.

Investing in Crypto: Key Catalysts

How Securities and Exchange Commission (SEC) Approvals and Political Endorsements are Shaping Investment Opportunities. The cryptocurrency market has experienced a significant boost this year, primarily due to the U.S. Securities and Exchange Commission’s approval of an exchange-traded fund (ETF) that tracks the spot prices of Bitcoin (BTC) and Ether (ETH). This development has sparked renewed interest and optimism among investors.

The Olympics in Paris gave a boost to the Euro

The euro-area economy experienced an unexpected surge in growth, largely attributed to the Paris Olympics. This event significantly boosted private-sector activity, marking the fastest growth pace in three months. Despite this positive development, underlying economic challenges persist, particularly in the manufacturing sector.

Investing Ahead of Fed Cuts

Wall Street is abuzz with speculation that Federal Reserve Chair Jerome Powell will announce upcoming interest-rate cuts at the central bank’s annual conference in Jackson Hole, Wyoming. This anticipation has significant implications for money managers who have recently invested heavily in Big Tech stocks, trying to keep up with the rising S&P 500 Index. Markets are fully expecting the Fed to begin reducing borrowing costs at its September meeting.

Entry Point – Aluminum

Trafigura says aluminum’s rally has reached its limit as supplies recover. Trafigura analyst Henry Wang notes increased supply and weak demand. He also notes declining manufacturing demand outside of China. “We’re seeing a very bleak demand picture right now,” Wang stressed at the CRU World Aluminum Conference in London. He noted that the price increase…