Bitcoin Excitement Fizzles Out

   Bitcoin's value plunged 11%, hitting its lowest since the much-anticipated approval of Bitcoin-based ETF.

   Leading the ETF demand are BlackRock and Fidelity, but it seems their interest wasn't enough to keep Bitcoin afloat.

   Starting with $629 million flooding in on day one, Bitcoin ETF's inflows, dipped to $200 million on day two.

   Industry experts like Bartosz Lipiński of Cube.Exchange hint that Bitcoin might find a safety net around the $40,000 mark, a price point that's more a psychological barrier for traders than anything else.

Source: Read More

Job Market Sizzles While Housing Whistles

   U.S. weekly jobless claims have dropped to a 16-month low, hinting at a stable job market. You see, only about 187,000 Americans are filing for unemployment.

   In US mortgages, the average 30-year fixed loan rates have dropped to 6.6%. Hitting their lowest point since May.

   Meanwhile, single-family home starts have dropped 8.6% in December, but intriguingly, future building permits ticked up by 1.7%. This reflects a hesitation in current projects while maintaining a hopeful eye on the future.

Source: Read More

IRS Update: New Capital Gains Taxes

   The IRS just rolled out the new capital gains tax brackets for 2024.

   First off, the amount of tax you owe depends on four big things: how much your investments shot up in value, how long you kept them before selling, your total income, and the kind of investments cashing in.

   Now, investments held on for over a year will get a lower tax rate on those gains, but if it's less than a year, the tax rate's steeper.

   For individuals, if you're making less than $47,025 in 2024, you might not pay any capital gains tax. Earn between $47,026 and $518,900, and you're looking at a 15% rate. But make more than that, and you're hit with a 20% rate.

   Married and filing together? The 0% rate applies if you're making up to $94,050. Between that and $583,750, it's a 15% rate. Over that, it's 20%.

Source: Read More

Big Banks In Battle Mode

   Federal regulators want to beef up bank protections by requiring them to have more capital at hand.

   You see, they(regulators), argue this will prevent the need for future bailouts, pointing to recent bank collapses as a wake-up call.

   However, big banks are pushing back, arguing that too much capital on hand makes them less competitive and limits how much they can lend out.

   Interestingly, social advocates fear these changes could have negative economic effects, including harming pension funds.

   Now, regulators must sift through a sea of feedback to make their final decision.

Source: Read More