Mt Pelerin animated logo 📉 JEROME POWELL HINTS AT AN INTEREST RATE CUT During a conference in Wyoming, which is considered an important platform for monetary policy decisions, the Chairman of the US Federal Reserve Jerome Powell explained that the central bank could be ready to cut interest rates in September. However, this has not yet been decided and the size of that possible interest rate cut has not yet been determined either, but it is being discussed. In any case, the central bank is prepared to support the labour market and stabilize the economy, Powell declared. The decision will depend on current economic data, the economic outlook and a risk assessment. US interest rates have currently been trading at around 5.3% for more than a year, the highest level in two decades. Expectations of an interest rate cut by the Fed have increased due to declining inflation and a possible weakening of the labor market. Why is a rate cut relevant for crypto investors? The Fed's comments on the subject have a direct impact on the global financial markets, and thus on the crypto market as well. For example, shortly after the conclusion of Powell's speech, the Bitcoin price rose by more than 1.2% to a value of $62,300. At the beginning of 2022, the Fed aggressively raised the key interest rate due to rapidly rising inflation. Read more > 📈 WILL BITCOIN'S OPEN INTEREST RISE? If American key interest rates are lowered, investors typically withdraw their money from safe financial assets such as government bonds and invest in riskier assets such as Bitcoin or shares. As a result of the Fed's comments on a possible interest cut, Bitcoin's open interest has increased enormously in a very short amount of time, generating more than a billion in new open interest. Exchange BTC Futures Open Interest (USD) 1 BTCPrice 1M Open Interest $40.008. $80.00K $70.00K $30.008 $60.00K $50.00K 520008 $40.00K $30.00K $10.008 $20.00k $10.00k $1.378 28Feb 5May 11Jul BAor ¥2%in 16Sep 22Nov 28Jan 18Aug 250ct 3Jan 12Mar 18May 24Jul 29Sep 6Dec 11Feb 19Apr 25Jun 31Aug 6Nov 123Jan 19Mar 25May 31Jul But what exactly is an “open interest”? It represents the total value of all futures contracts that have not yet matured at the current time. An increase in open interest therefore indicates the market sentiment and a possible price development for Bitcoin. Quite a few, such as crypto expert Nishant Bhardwaj, expect an intense Q4 if interest rates are cut: Nishant Bhardwaj & X @Nishant Bliss - Follow Prepare yourself for one of the most explosive Q4 in history, for #Bitcoin US markets and Indian markets, here is why - Historic Rate Cuts Incoming : The FED is on the verge of slashing rates after pushing interest rates to a staggering 30-year high. U.S. Presidential Showdown... Show more 3:46 PM - Aug 21, 2024 @ @ 58 ® Reply @ Copylink Read 7 replies Read more > 😴 75% OF ALL BITCOINS ARE DORMANT Data from Glassnode suggests that the majority of all bitcoins has neither been sold nor moved in the last 6 months. Glassnode uses direct blockchain data within the Hodl Wave diagram. This shows that around 75% of all bitcoins were not moved in 2024, despite a price drop of around 20% from Bitcoin's all-time high: 10y mmm7y-10y s Sy-7y e 3y-Sy 2y-3y 1y-2y em-12m BTC Price (USD) 3M-6m e Im-3m s lw-lm s 1d-1w s 24h —— BTC Price © 2024 Bitcoin Magazine Pro. This kind of data indicates that investors are no longer using Bitcoin purely for speculation, but increasingly as a store of value. The increasing proportion of long-term holders reduces the current supply on the market, which could also lead to a possible price increase or at least be conducive to it. But not everyone agrees it is a positive sign: Checkmate @ 5+ O & X @_Checkmatey_- Follow Right now, over 80% of #Bitcoin Short-Term Holders are underwater, meaning their coin was acquired at a price above the current spot price. This is similar to 2018, 2019, and mid-2021 which signalled many investors were at risk of panicking, and precipitating a bearish trend. oo o ot el cns bt thot st s, thy oy parc el i vty I e T T Total Held - 4.32M BTC In Loss - 345M BTC 2:26 AM - Aug 19, 2024 ® ® 29 ® Reply @ Copylink Read 23 replies On-chain analyst James Check published further data on Twitter, which shows 80% of recently added investors are in the red, as they entered the market at a higher price than the current one.  Read more > 👮‍♂️ TELEGRAM'S CEO ARRESTED Telegram has always been the go-to discussion platform in the cryptospace. Many users and companies use it to talk about current crypto topics, make announcements or offer customer support. But on Saturday, Telegram founder Pavel Durov was arrested in France when he landed in Paris with his private jet. Not much is known so far, but Durov has been arrested in connection with a search warrant related to possible violations by Telegram. The main issue behind this warrant is the lack of content moderation by Telegram, which lets users involved in fraud, drug trafficking, pedocriminality and other forms of organized crime use the platform without hindrances. The crypto community, which is sensitive to freedom of expression and decentralization, stands behind Durov in these difficult times. Well-known personalities from the sector have commented on Durov's arrest, including Ethereum founder Vitalik Buterin. Although he had criticized Telegram in the past on its encryption standards, the current accusations are for him “very bad and worrying for the future of software and communication freedom in Europe”. * Y- | Telegram founder Pavel Durov arrested in France. His “crime” appears to b [ SR 2] T News > World News Telegram founder & billionaire Russian exile Pavel Durov ‘arrested at French airport’ after stepping off private jet P L 3 red Telegram before for not being serious with encryption. But (given the info available 5o far: the charge seems to be just being "unmoderated” and not giving up people's data), this looks very bad and worrying for the future of software and comms freedom in Europe. P In a recent interview, Durov stated that he had indeed attracted the attention of the FBI and other US authorities, which are said to have tried to poach one of his software engineers, to persuade him to leak information or even build a backdoor into Telegram. Mario Nawfal & [ X @MarioNawfal - Follow PAVEL DUROV: THE U.S. WANTED TO CONTROL TELEGRAM BETTER “We get too much attention from the FBI and other security agencies whenever we come to the U.S. The last time | was in the U.S., | brought an engineer who works for Telegram. There was an attempt by cybersecurity... Show more Watch on X 119K @ Reply (@ Copy link Read 245 replies Read more > 🇦🇪 TETHER PLANS A DIRHAM STABLECOIN Tether, the largest stablecoin issuer on the market, is planning to offer a dirham (AED)-backed stablecoin in the UAE in collaboration with the Phoenix Group and Green Acorn Investments. The aim is to create a digital AED that is fully collateralized by liquid reserves of the United Arab Emirates. tether. Launching a Dirham Pegged Stablecoin The new stablecoin is intended to facilitate international trade, reduce transaction fees and provide a hedge against currency fluctuations. The use of cryptocurrencies in the UAE have increased exponentially since 2022. Read more > 🇸🇻 EL SALVADOR CONTINUES ITS BITCOIN STRATEGY According to data from Arkham Intelligence, El Salvador, under the leadership of Nayib Bukele, is sticking to its Bitcoin strategy and has been buying one bitcoin a day since March 16 of this year: pEREEpry 2 days ago 3 days ago 4 days ago R 6 days ago FRTr FRTTr fRTe 1 week ago fRe PRI 2 weeks ago 2 weeks ago 2 weeks ago PRI ‘3BXEjnyLD6Mps1TBNARO3UBOSVUGGBE Fuc (+1) 3BVeMDOUNUN2BaKSRYPEVhe1x44nbXFagY. EERI PRI T KT IR BN SRR AL ‘3PdB69ILURCXSZXNN] £k5G7BDBUZKb2LXE '32c6tBauTZBNXVXL1 £ bVCUpayh2NGEX (+1) ‘35SPNECYAT7VpALVZ2LHZuMFyN3BOAVURN E el T SR A L R P USSR e ey bo1gnsxkadpe0afgo25drhuvraeelkhvsahpilm.. B S E e T S 2 bolqgrkhavs75un96u7Bkeezay88263u76uheLum.. R S P IR e 2 ‘3KKqUCCUIH2GX2UQVANNSZV7SC1gP2VXCKC SKwzx2TYdg6TINhMYmIhBWEQUXNEYESQXm (1) 3PEINCZQnhQkETiagIPQVKbvdiLA1dSICH (+1) £l £l £l £l 5! £l £l £l £l 5! £l £l £l £l £l £l ST ST ST ST ST ST ST ST ST ST ST ST ST ST ST ST [ [t [ [t [T [T e [t [T [t [t [t Government: [t [ [t cold cold cold cold cold cold cold cold cold cold cold cold cold cold Cold 5e] (AR (AR (AR (AR (AR (AR (AR (AR (AR (AR (AR (AR (AR (AR AR (AR Ll L L L L L L L L L L L L L L L L L L L L L L L L L L L L L $63. s61. £ £ $58. £ £ £ $58. B £ £ £ e £ E G £ X £ 1 X £ £ £ £ P G e £ The country now holds a total of around 5,850 bitcoins with a current total value of $375 million. The average purchase price of El Salvador is around $44,800, which currently reflects an unrealized profit of about $93 million. El Salvador is also investing in cryptocurrency education. According to Cointelegraph, the National Bitcoin Office announced its intention to train 80,000 government employees in Bitcoin and offer corresponding certifications, with the aim of preparing them for the future. This program is to be carried out by the School of Innovation in Public Administration (ESIAP). . The Bitcoin Office @ X @bitcoinofficesv - Follow ==EL SALVADOR CONTINUES TO TRAILBLAZE! El Salvador will soon begin providing #Bitcoin instruction and certification to 80,000 public servants. Show more @ Stacy Herbert = &' @ @stacyherbert I Salvador keeps winning because we keep building to the very highest standards, For three years now, the @bitcoinofficesv has been trailblazing the path upon which all other nations willfollow. Along with creating @cuboplus, building a new K-8 Bitcoin Workbook & introducing Certficacion en Adminstracion Publica & 10:52 PM - Aug 20, 2024 o @ 212 ® Reply @ Copylink Read 13 res El Salvador's success has made other inflation-plagued countries to take notice, notably Argentina which has started to collaborate with El Salvador on the subject since May of this year. Read more > 💡 LATEST CRYPTO FACTS 🔹 Bitcoin is currently close to 4 times the size of Ethereum, in terms of market capitalization: Bitcoin is approaching 4x the size of Ethereum -4.00 a8 - 325 - 300 - 275 - 225 - 200 - 175 2021 2022 2023 2024 — Bitcoin Market Cap : Ethereum Market Cap ratio THE Source: The Btcoin Layer, Coinmarketcap.com, Macrobond s1TcOIN R e 🔹 Global debt is spiraling further out of control. As the overview below shows, it is not a problem of individual countries but a global one: KE—M USA O r $28,611,075,454,835 90.02% < oMU 335,483,756 ) (e § CHINA ——— e (Fomunon 1,474,359,938 | 35993 ) $14,608,176,048,540 || $17,752,585,150,829 82.31% o lzazan (Se5n320162208 ) - o 129608431 ) $13,602,967,914,880 $4,511,324,162,208 301.60% = GERMANY (I s e $3,387,551,953,730 J{ $4,229,104,115,779 rrerr—— T EEE—— UK e $3,482,952,082,258 109.71% | PoreLanon 69,466,021 ) = INDIA COITIYTR, z $3,322,548,699,687 $3,428,711,277,794 96.93% muns 1,413,910,156 FRANCE oo oeor) T o Soora sek 35078 MUY 66,904,589 — $3,636,752,143,857 || $2,094,093,727,383 BRAZIL 62,116,762 (o296 $1,082,464,787,912 107.06% CANADA O ~ J = $2,317,430,882,210 ) $1,783,546,761,791 129.97% | " 38626386 ) (= ARGENTINA QIR I (owmm 2310081 ) $616,154,316,260 $660,961,447,020 93.24% AUSTRALIA - ) $1,215,665,342,118 || $1,808,726,245,504 67.23% e ——————— | | | N J BELGIUM - - - - e $618,471,068,273 124.86% GREECE — - 078055 ) $534,974,566,358 | $233,120,053,227 ) 220.54% Many are already talking about crossing the “point of no return”. Due to the enormous global debt, the “printing” of new money continues to increase, which in turn leads to the devaluation of individual countries' currencies. Referral animation INVITE FRIENDS & EARN Invite your friends to use Mt Pelerin and earn 25% of their fees in reward! Get started > Share Share Share Share Share Share Forward Forward Twitter LinkedIn Facebook Instagram © 2024 Mt Pelerin Group SA, all rights reserved. This Newsletter is for informational purposes only. Any information herein does not constitute any legal, financial, tax or investment advice and is not intended as and is not to be taken as a recommendation, offer or solicitation for buying, trading or selling cryptocurrencies in any jurisdiction, including those in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such a solicitation or offer. 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