Author: Arslan Butt
Arslan Butt
Arslan Butt is a seasoned live webinar speaker and derivatives analyst with expertise in cryptocurrencies, forex, commodities, and indices. With a strong background in both technical and fundamental analysis, Arslan helps traders—especially beginners—navigate financial data, assess market trends, and develop effective trading strategies. Arslan has extensive experience in the cryptocurrency and forex markets, focusing on price forecasting and market predictions. His previous role at a leading brokerage firm involved managing risk for forex and cryptocurrency trading clients, further refining his expertise in speculative positioning and risk management. Specializing in trading psychology, market sentiment, and price action analysis, Arslan has contributed to prominent platforms such as Cryptonews, ForexCrunch, InsideBitcoins, and EconomyWatch. His goal is to equip traders with the insights and tools they need to make well-informed investment decisions.
Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, recently struggled to maintain its early upward momentum, turning bearish around the $63,465 mark and hitting an intra-day low of $63,078.
Coinbase Global appeared before a federal appeals court, pushing the Securities and Exchange Commission (SEC) to establish clear regulations for the cryptocurrency industry.
In a concerning development, hackers took over OpenAI’s official X (formerly Twitter) account on Monday evening to promote a fraudulent cryptocurrency scheme.
Binance has suspended its efforts to comply with Nigeria’s digital asset regulations due to the ongoing detention of its executive, Tigran Gambaryan. Gambaryan, Binance’s head of financial crime compliance, was arrested on charges related to money laundering and tax evasion during a business trip to Nigeria.
The USD/JPY currency pair experienced a notable surge during the European trading session, rising to 143.55, reflecting a 0.90% increase for the day. This upward movement is largely driven by the US Dollar’s (USD) rebound, following the Federal Reserve’s (Fed) major interest rate cut.
Gold (XAU/USD) continues its bullish streak, currently trading at $2,587.97 with a 0.11% increase on the day. The market is closely watching key data releases, including U.S. unemployment claims and existing home sales, which could further influence gold’s trajectory in the short term.
Crude oil inventories fell by 1.6 million barrels in the latest data release, sharply exceeding expectations of a 0.2 million barrel drop. This significant inventory drawdown has provided underlying support for oil prices, even as WTI Crude Oil (USOIL) continues to trade cautiously.
The US Federal Reserve (Fed) made a monumental move on September 18, 2024, cutting interest rates by 50 basis points (bps) following a two-day Federal Open Market Committee (FOMC) meeting.
The Federal Reserve’s next Federal Open Market Committee (FOMC) meeting is set for September 17-18, 2024. This meeting is highly anticipated by investors,
Silver (XAG/USD) remains under pressure, trading around $30.40 as the strong US dollar continues to weigh on the precious metal. Despite the recent bearish trend, silver is finding support in China’s booming demand, which has driven prices higher in Asian markets compared to their Western counterparts.
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