Coinspeaker
15 hour ago
1 0

BULLISH 📈 : Crypto Whales Accumulate Gold-Backed Tokens Amid Rising Market Caps

Financial markets rise as the U.S. Federal Open Market Committee meeting begins on Jan. 27-28. The Fed's interest rate decision is expected to remain unchanged, impacting financial markets, including cryptocurrencies.

  • Interest rates influence borrowing costs for companies and consumers. Lower rates may boost volatile assets like cryptocurrencies.
  • If rates stay steady, markets may remain in a bearish consolidation zone due to macro uncertainty.

The Big Tech Effect

  • Investors await earnings reports from Microsoft, Meta, Tesla on Jan. 28, and Apple on Jan. 29.
  • Recent gains: Apple (2.97%), Meta (2.06%), Microsoft (0.93%); Tesla fell 3.09%.
  • Strong tech earnings could lift both tech stocks and cryptocurrencies.

Diving Head-First Into Digital Gold

  • Gold surpasses $5,000 per ounce amid US-EU tensions.
  • Crypto whales are accumulating Tether Gold (XAUT) and Pax Gold (PAXG).
  • Three wallets withdrew $14.33 million in XAUT and PAXG tokens from Bybit, Gate, and MEXC.
  • XAUT and PAXG reached all-time high market caps of $2.45 billion and $2.08 billion, respectively, on Jan. 26.