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Inflation Data Hits, Bitcoin Holds Strong
August Inflation & Fed's Rate Cut Speculations
Jungle Degen
September 13, 2024
Greetings Crypto Explorers! 🌴🦜
Welcome to this week's Jungle Tales, your go-to crypto newsletter for degens with a hint of jungle and a whole lot of fun. The big roar in the jungle is the latest US inflation data showing a slight bump of 0.2% for August, but our crypto market remains unphased. Bitcoin holds strong at $57K as centralized exchange activity drops.
As always… Stay Wild! 🌿🦁🚀
🦍 The Big Jungle Roar
This week's monumental event that shook the crypto-jungle. Roar with us!
The latest US inflation data came out with a light bump of 0.2% for August. Despite the news, the crypto market stayed cool. 🌴💸 Investors are chill with the Fed likely going for a 25 bps rate cut instead of 50 bps.
Bitcoin's holding strong at $57K. However, trading activity on centralized exchanges has dropped significantly since July, according to Glassnode. 📉💤
Mining action is still roaring with Bitcoin's hashrate close to hitting all-time highs! 🛠️⚡ But traders are showing less enthusiasm, with spot trading volumes dipping over the past 90 days.
📈 News about the current price action:
🦁 King of the Crypto Jungle
Unleashing the top beasts of this week's crypto news. Beware, it's a wild ride!
🐒 Meme Monkeys
Hopping onto the funniest and savviest crypto memes that swung through the jungle this week
🦜 Jungle Mystery of the Week
Can you solve our crypto-themed riddle? The answer lies hidden deep within the jungle. Share your guesses on Twitter and tag us! (we may gift someone some crypto 👀)
In the dense thicket of the crypto jungle, whispers circulated about a shadowy entity known only by three cryptic letters. Legends say this elusive force holds the power to sway the market with mere whispers, causing wild fluctuations in prices and investor sentiment. Some traders claim to have seen its influence during pivotal economic announcements, while others insist it’s just a myth. As speculation grows, one question lingers: Can you identify this mysterious entity that wields such profound influence over the crypto world?
🦩 Tweets from the Jungle
Check out these wild crypto tweets that have made it to the jungle!
The supply shock cocktail:
- 29,000 BTC taken off exchanges today
- 102,000 BTC taken off last 30 days
- Only 450 new BTC mined per day
- Normal people are not buying— Bitcoin for Freedom (@BTC_for_Freedom)
2:23 PM • Sep 11, 2024
So that just happened.
The S&P 500 fell 1.6%, then rallied 2.7% in the span of five hours to finish up 1.1%.
Biggest comeback since the early bull market days in November 2022.
— Callie Cox (@callieabost)
8:11 PM • Sep 11, 2024
🐊 Crypto Swamp Watch
Bitcoin (BTC) - $59,923.82 (12.88%)
Ethereum (ETH) - $2,420.30 (10.40%)
Top Gainer: Nervos Network (+79.01%)
Top Loser: Helium (-2.98%)
Snapshot taken on the 13th of September, around 2:40pm, Jungle time.
🍍 Jungle Poll Parrot
Join our parrot's poll! This week's squawk…
How do you feel about the crypto market after the latest inflation data? |
🐯 Jungle Snapshots
Our grand finale - Jungle madness, guaranteed wilder than any pump and dump. Enjoy, you crypto beasts!
Climbing up the 🌴
👋 That's all for this issue of Jungle Tales! As we part ways, let's remember the wise words of a crypto degen:
In the wild crypto jungle, seasoned degens remind us that the journey upwards is rarely a straight path. True gains come to those who understand the rhythm of the market, recognizing that every dip is an opportunity for growth. As you climb, remember to stay grounded and patient, for haste can lead to missteps. Keep your eyes on the horizon, anticipate the twists and turns, and build your strategy with foresight and resilience. Embrace the small victories, learn from the setbacks, and always share your wisdom with fellow explorers. In this way, you'll rise not just in wealth, but in knowledge and community strength.
Don't forget to share our newsletter with your fellow crypto adventurers, and follow us on TwitterX.
Until next time, keep exploring the wild world of crypto!
Pura Vida,
Jungle Degen
JUNGLE WARNING: Hear me, ye dauntless navigators of the crypto wilderness. This parchment holds no keys to monetary splendor. Consider it more of a cryptic map of the jungle, teeming with teachings, not a treasure chest marked with an 'X'. It neither mutters veiled secrets of investment, nor beckons you to swap your prized assets or enact any fiscal transactions. In this unpredictable crypto habitat, caution is your most trusted ally, and your own robust investigation, the steadfast compass. Equip yourselves with the shield of wisdom, as you traverse the intricate network of paths. Remember, swift success is often a false trail; it is through enduring patience, adroit maneuvering and careful strategy can you navigate this mysterious landscape. The jungle is vast and filled with enigmatic conundrums; let your own diligent research be the torch that dispels shadows. Don't be lured by the glimmering illusion of quick profits, but bend your will to the pursuit of genuine understanding. Keep your wits about you and eyes wide open on this crypto-quest. To cut a long story short, this is NOT financial advice. Safe travels, crypto explorers!