FameEX Morning Crypto News Recap | August 8, 2025
2025-08-08 03:45:24Trump Selects Stephen Miran for Federal Reserve Board Membership
President Donald Trump has appointed Stephen Miran to the Federal Reserve Board, replacing Adriana Kugler, who resigned. Miran’s term will run until January 31, 2026. He has extensive experience, having worked at the U.S. Department of the Treasury and Fidelity Investments. Additionally, Miran has advocated for the simplification of cryptocurrency regulations.
Bostic from Federal Reserve: Job Market Risks Increasing, Rate Cuts Not Yet Needed
Federal Reserve's Bostic highlighted growing risks in the job market, but emphasized that it's too early to decide on rate cuts. He indicated that a 25 basis point reduction might be suitable later this year. Bostic also pointed out that more economic data will emerge before the next Federal Reserve meeting, and inflation is expected to increase in the coming months.
Short-Term Bitcoin Holders' Profit-Taking Activity Drops to 45%
On August 7, Glassnode data showed that the profit-taking by short-term Bitcoin holders had decreased to 45%, falling below the neutral threshold. This suggests a market in balance, with profit-taking activity remaining mild. The drop also indicates that short-term investors are uncertain and lack a strong belief in the market's direction.
Bloomberg: Trump to Sign Order Permitting Cryptocurrency Investments in 401(k) Plans
U.S. President Trump is set to sign an executive order on Thursday that will allow 401(k) pension funds to invest in alternative assets such as private equity, real estate, and cryptocurrency. This groundbreaking decision opens up significant opportunities for the industry, potentially tapping into the $12.5 trillion retirement market.
BTC Price Exceeds $106,000, Above Short-Term Holder's Cost Basis
Glassnode data shows Bitcoin’s price is still above the short-term holder cost basis of $106,000, a critical level distinguishing bull from bear markets. However, recent pullbacks have raised market uncertainty.
Economic Fears Rise as Trump's New Tariffs Take Effect, 62% of Voters Disagree
On August 7, Trump’s new reciprocal tariffs came into effect at 12 PM. Financial firms such as Morgan Stanley, Deutsche Bank, and Evercore ISI raised concerns over potential corrections in the S&P 500 index. The U.S. economy is grappling with rising inflation, slower job growth, and weakening consumer spending. Recent polls indicate widespread disapproval, with 62% of voters opposing Trump’s tariff policy, 58% rejecting his tax reform and spending bill, and 55% dissatisfied with his economic leadership.
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