February 8th, 2024

Key Insights:

Optimistic Crypto Outlook Post-Fed: The Fed’s recent decision to hold rates steady may signal a bullish trend for cryptocurrencies, with potential for a rate cut cycle beginning as early as May.

Duroc Leads Amidst Bitcoin Dominance Shift: The changing dynamics of Bitcoin’s dominance highlight Duroc’s strong performance, showcasing the potential of Altcoin investments.

Crypto Payments Now Available: Diamond Pigs users can now pay invoices with BTC and LTC.

Enhanced Invoice Transparency: Beginning March 1st, detailed daily fee calculations for clearer monthly charge insights.

Anticipating Bitcoin’s Recovery: Navigating Post-FOMC Market Dynamics SEC Approval of BTC ETF

Last week’s decision by the Federal Open Market Committee (FOMC) to keep the federal funds rate steady at 5.25%-5.50% has set a nuanced stage for Bitcoin (BTC) prices. Despite a short-term sell-off triggered by the disappointment over the Fed’s hesitance to cut rates in March, the outlook for BTC may lean towards optimism.

Investors, now recalibrating their expectations for a rate-cutting cycle to potentially start as early as May, could see this as a bullish signal for risk assets like cryptocurrencies. This sentiment is bolstered by positive net inflows into BTC ETFs and on-chain analysis showing significant BTC accumulation by whales, in anticipation of increased liquidity and wider BTC adoption in the market. These factors collectively hint at a possible price recovery for BTC, as the anticipation of a softer monetary policy could reduce the opportunity cost of holding non-yielding assets and make BTC more attractive, especially in a potentially weakening US dollar scenario.

Shifting Dynamics: Bitcoin’s Reversing Dominance and the Rise of Altcoins

Bitcoin’s dominance is currently reversing its downtrend that began at the start of the year, raising the question of whether Bitcoin is on a trajectory towards reclaiming a dominance of 55% or higher, or if this is merely a temporary adjustment before a potential reversal that could officially kickstart an Altcoin season.

Despite the recent upward BTC dominance trend, and despite a 10% correction a few weeks ago, we see that both Duroc (+8.2%), our active crypto mix strategy, and Berkshire (+6.2%), our top 10 strategy, have managed to demonstrate healthy growth over the last 30 days. Continuing their strong performance of the last 90 days with 26% growth for Duroc and 32% growth for Berkshire. The Duroc strategy, with a strategic focus on fundamentally strong coins like LINK, STX, and ETH, and the Berkshire strategy, featuring LINK, TRX, and ETH, have showcased significant gains over Bitcoin.

Introducing New Payment Options and Enhanced Invoice Transparency for Diamond Pigs Users

We are excited to announce the launch of a new feature that enhances the flexibility of our billing options for Diamond Pigs users. Starting today, Diamond Pigs users have the option to pay their invoices using Bitcoin (BTC) or Litecoin (LTC), in addition to the existing options of paying with a Credit Card and iDeal (debit card).

How It Works:

In your billing screen, you’ll now find two dedicated addresses: one for BTC and one for LTC payments. To complete your payment, simply send the due amount to the relevant address from your external crypto wallet.

Note for Bitvavo Users:

According to the Bitvavo terms & conditions, you are not allowed to send crypto payments to wallets you do not personally own. This means that if you wish to make a crypto payment to pay the monthly Diamond Pigs fees, you should use a different wallet.

Last but not least, the monthly invoices now include a supplementary section that provides a daily breakdown of fee calculations, serving as a clear explanation for the total monthly fees charged. This change will already take place in the upcoming invoices sent on the 1st of March.