FameEX Morning Crypto News Recap | May 8, 2025
2025-05-08 01:43:20Fed Chair Powell Says Trump’s Rate Cut Request Won’t Influence Policy Decisions
On May 8, Fed Chair Powell affirmed that President Trump’s request for a rate cut would not influence the Federal Reserve’s policy decisions or operations.
OCC Permits Banks to Outsource Cryptocurrency Services
The U.S. OCC has clarified that national banks and federal savings associations can buy and sell custodial crypto assets on behalf of customers. They may also outsource custodial and execution services to third parties, as long as robust third-party risk management practices are followed.
EU to Levy New Tariffs if Trade Talks with U.S. Fail
On May 7, the EU signaled it would impose new tariffs on the U.S. if ongoing trade negotiations end unsuccessfully.
Analysis: Key Bitcoin Technical Indicators Resurface in 2024, Hinting at Possible Uptrend
Analyst Omkar Godbole noted that Bitcoin’s current technical charts mirror 2024 patterns, when BTC surged from $70,000 to $109,000. Key indicators like the MACD histogram and 'death cross' are showing similar bullish signals, suggesting potential for another significant upward price movement.
Glassnode: Short- and Long-Term Bitcoin Holders Step Up Accumulation
Glassnode data reveals both short- and long-term Bitcoin holders are accumulating, with long-term holders adding over 250,000 BTC since March, bringing their total to over 14 million. However, Bitcoin faces strong resistance at $99,900, requiring sustained buying pressure to continue its upward momentum beyond this key level.
Eric Trump Voices Support for Bitcoin at Token2049 Dubai
At the Token2049 event in Dubai, Eric Trump expressed strong support for Bitcoin, calling it “digital gold.” He stated that both he and Donald Trump hold significant Bitcoin and predicted exponential growth for the cryptocurrency in the years ahead.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.