FameEX Morning Crypto News Recap | May 8, 2025
2025-05-08 01:44:18Fed Chair Powell: Trump's Calls for Lower Rates Won't Influence Policy
On May 8, Fed Chair Powell stated that President Trump’s request for a rate cut would have no impact on the Fed’s policy decisions or actions.
OCC Approves Banks' Use of Third Parties for Crypto Services
The U.S. OCC announced that national banks and federal savings associations are permitted to buy and sell custodial crypto assets for customers. They can also outsource related custodial and execution services to third parties, provided they implement strong risk management protocols to ensure compliance and safeguard customer interests.
New EU Tariffs Loom if Trade Talks with U.S. Collapse
On May 7, the EU warned it would introduce new tariffs on the U.S. if current trade talks fail to succeed.
Analysis: Key Bitcoin Indicators Return in 2024, Pointing to Possible Bullish Momentum
Analyst Omkar Godbole observed that Bitcoin’s current technical patterns resemble those from 2024, when prices climbed from $70,000 to $109,000. Indicators such as the MACD histogram and 'death cross' are exhibiting similar bullish trends, signaling the possibility of another strong upward move in Bitcoin’s price.
Glassnode: BTC Buying Activity Rises Among Both Short- and Long-Term Holders
Glassnode data shows increased accumulation by both short- and long-term Bitcoin holders. Long-term holders have added over 250,000 BTC since March, now holding more than 14 million. Despite this, Bitcoin encounters strong resistance at $99,900, and further upward movement will require consistent, strong buying pressure to break through.
Trump’s Son Eric Endorses Bitcoin at Token2049 in Dubai
At Token2049 in Dubai, Eric Trump praised Bitcoin as “digital gold,” revealing that both he and Donald Trump hold substantial amounts. He predicted Bitcoin would see exponential growth in the coming years.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.