Hi friend!

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We're glad to have you back for another weekly news summary. Let's talk about Bitcoin, Gold and Interest Rate Cuts.

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The Weekly Fun Fact 🤔:

Were you aware that Beyoncé, the multi-platinum artist and 32-time Grammy Award winner, is making her way into the spirits business? She has partnered with Moët Hennessy  to introduce SirDavis, an American rye whiskey that bears the name of her paternal great-grandfather, a moonshiner from the Prohibition era. It's already causing a stir in the whiskey market due to its distinctive mash bill and hint of Texas history. I toast to that! 🥃

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Onto this week’s topics 🚦

🔴At $58K, are Institutions Losing Interest in Bitcoin? 😶‍🌫️

A crucial indicator points to a decline in institutional interest in Bitcoin. Markus Thielen of 10x Research reports that within the last week, there has been a notable decrease in the stablecoin minting ratio, which is an important signal of institutional buying. Bitcoin has been trading at $58,000, but the excitement that accompanied previous drops below $55,000 doesn't appear to be as strong. The Crypto Fear & Greed Index dropped to a "Fear" score of 27, suggesting that some investors are delaying their reentry into the market until after there is more of a decline.

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🟡A New Gold Milestone: Million-Dollar Bars 🥇

⁤A bar of gold is currently worth $1 million, a world record for any period. ⁤⁤The gold spot price reached an all-time high of $2,500 per troy ounce on Friday. ⁤⁤It's important to remember that gold bars come in different weights; the ordinary 400-ounce bar is usually valued at $1 million, even if this seems too expensive for many people, ⁤⁤smaller bars are also available, some of which may even be found at Costco (a retail store in the US). ⁤⁤The gold's sustained strength confirms that it is a good store of value throughout uncertain times.  

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🟢Are Rate Cuts Coming? Powell's in Play ✂️

All Wall Street eyes are burning Federal Reserve Chair Jerome Powell soul. Everyone is looking for his speech at the annual Jackson Hole conference. While interest rate cuts by the Fed are widely anticipated by the markets, the key question remains: how much will they be? While the recent drop in recession fears—thanks to strong retail sales and jobless claims data—has calmed some nerves, Powell’s speech on Friday could either confirm these hopes or leave investors wanting more. Curiously, Goldman Sachs has dropped its prediction of a U.S. recession in the upcoming year from 25% to 20%. Yet, some investors are still hedging against future surges in inflation.

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🎬The financial world is quite active, and whether you’re into rare assets, market trends, or new investment opportunities, there’s something for everyone. Staying informed and making decisions based on solid information is always key to navigating the markets successfully. ✅