FameEX Morning Crypto News Recap | August 8, 2025
2025-08-08 03:43:46Trump Names Stephen Miran to the Federal Reserve Board
President Trump appointed Stephen Miran to the Federal Reserve Board, filling a vacancy left by Adriana Kugler's resignation. Miran's term will end on January 31, 2026. He has prior experience at the U.S. Department of the Treasury and Fidelity Investments and has supported simplifying cryptocurrency regulation.
Bostic of the Federal Reserve: Job Market Risks Grow, But Rate Cuts Are Premature
Federal Reserve's Bostic noted increasing risks in the job market but deemed it premature for interest rate cuts. He suggested a 25 basis point cut might be appropriate later this year. Additional data will be available before the next meeting, and inflation is expected to rise in the coming months.
Short-Term Bitcoin Holders Cut Profit-Taking to 45%
On August 7, Glassnode data revealed that profit-taking by short-term BTC holders dropped to 45%, below the neutral threshold. This indicates a balanced market, where profit-taking is moderate, and short-term investors lack a strong directional belief.
Bloomberg Reports Trump Set to Sign Executive Order Permitting 401(k) Investments in Crypto
U.S. President Trump will sign an executive order on Thursday permitting 401(k) pension funds to invest in alternative assets, including private equity, real estate, and cryptocurrency. This move is expected to significantly impact the industry, offering access to the $12.5 trillion retirement market.
BTC Price Surpasses Short-Term Holder Cost Basis of $106,000
Glassnode data indicates that Bitcoin's current trading price remains above the short-term holder cost basis of $106,000, a key level separating bull and bear markets. However, recent pullbacks have introduced increased market uncertainty.
Trump's New Tariffs Spark Economic Concerns, 62% of Voters Oppose
On August 7, Trump’s new reciprocal tariffs took effect at noon. Morgan Stanley, Deutsche Bank, and Evercore ISI warned of potential S&P 500 corrections. The U.S. economy faces challenges from rising inflation, job growth, and reduced consumer spending. Recent polls show 62% of voters oppose Trump’s tariff policy, 58% oppose his tax reform and spending bill, and 55% are dissatisfied with his economic management.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.