Alright, buckle up crypto fam, because the week ahead is shaping up to be a doozy! The Federal Reserve is dropping its Beige Book on Thursday, giving us a peek under the hood of the US economy – and let’s be real, it’s probably not a pretty sight. We’ve got a whole slew of Fed speakers this week – Goolsbee, Jefferson, and even a double dose of Musalem and Waller – all hinting at what’s to come.
Photo source:Fox Business Network
Speaking of the Fed, Powell’s playing hardball, essentially saying Trump can try, but he’s staying put until 2026 (and angling for more!). The guy’s got more lives than a cat. Meanwhile, the prediction market is saying there’s a 22% chance Trump will try to ax him in 2025 – which, frankly, is insane. This whole situation feels… precarious, to say the least.
And get this, Trump’s economic approval rating is tanking. CNBC’s survey shows people are straight-up losing faith in his handling of the economy. Ouch. But here’s a glimmer of hope: Charles Schwab is reportedly gearing up to offer spot crypto trading within the next 12 months. Finally! It’s about damn time.
Funding rates across exchanges are stabilizing, indicating the market isn’t blindly bearish anymore, but isn’t screaming ‘bull run’ either. It’s a weirdly neutral space, which honestly, after the last few months, is kinda nice. The BIS also dropped a report on crypto & DeFi, cautiously suggesting it’s not yet a systemic risk – but acknowledging Bitcoin ETFs and RWA tokenization are changing the game.
Knowledge Nuggets:
Understanding the Beige Book is crucial to gauging the Fed’s next move. It provides regional economic conditions.
The Federal Reserve’s independence is a cornerstone of the US financial system. Political interference could be catastrophic.
Funding rates act as barometers for market sentiment. They reveal bullish or bearish tendencies.
The rise of Real World Assets (RWAs) is bridging the gap between traditional finance and the crypto world.
Stablecoins are increasingly central to DeFi, but their stability is constantly under scrutiny.
