hodler

8 May 2026, 17:10

Swiss Bitcoin Reserve Dream Collapses After Signature Campaign Falls Short: Report

A campaign pushing the Swiss National Bank to add Bitcoin to its reserves is set to end after supporters failed to collect enough signatures for a referendum under Switzerland’s constitutional rules despite months of outreach and public campaigning efforts. Campaigners were given 18 months to collect 100,000 valid signatures to propose a constitutional amendment that would have obligated the central bank to hold Bitcoin alongside gold and foreign currency reserves. However, with the deadline approaching, the Bitcoin Initiative said it had secured only around half the required number. Major Setback in Reserve Campaign In a statement to Reuters, campaign founder Yves Bennaim acknowledged the effort faced difficult odds from the beginning and said the initiative would now be allowed to expire. Despite the setback, he noted that the campaign had helped advance discussion around the cryptocurrency’s role in the financial system. The SNB has consistently opposed the idea of holding cryptocurrencies in its reserves, with its main point of contention being that digital assets remain too volatile and lack the market liquidity needed for reserve management. The central bank has also maintained that reserve assets must allow it to quickly expand or reduce its balance sheet when necessary while preserving long-term value. Although some central banks have explored exposure to digital assets, approaches vary widely. The Czech National Bank, for instance, purchased about $1 million worth of cryptocurrency and blockchain-related assets last year as part of efforts to better understand digital markets. The European Central Bank (ECB), on the other hand, has remained cautious and stressed that reserve assets must remain secure, safe, and liquid. Last month, Taiwanese lawmaker Dr. Ko Ju-Chun proposed adding Bitcoin to the country’s national reserves during a Legislative Yuan session attended by senior officials. The proposal cited concerns over Taiwan’s heavy reliance on US dollar reserves and suggested Bitcoin could serve as a strategic hedge despite the central bank’s earlier concerns about volatility and custody risks. Zooming Out The debate around Bitcoin reserves comes as the market continues to face volatility. BTC recently dropped below $80,000 after briefly reaching fresh multi-month highs earlier this week. The asset is now down more than 36% from its all-time high recorded last year. Meanwhile, geopolitical tensions added to market caution following conflicting reports claiming Iran had attacked a US Navy vessel in the Strait of Hormuz. The post Swiss Bitcoin Reserve Dream Collapses After Signature Campaign Falls Short: Report appeared first on CryptoPotato .

8 May 2026, 16:30

Silver Price Forecast: XAG/USD Rallies as Strong US Jobs Report Weakens the Dollar

BitcoinWorld Silver Price Forecast: XAG/USD Rallies as Strong US Jobs Report Weakens the Dollar The silver market experienced a notable rally this week, with XAG/USD climbing sharply as a stronger-than-expected US jobs report paradoxically weakened the US Dollar. The move caught many traders off guard, as strong employment data typically strengthens the Dollar and pressures precious metals. However, a deeper reading of the report suggests that wage growth and labor participation rates may be signaling a shift in Federal Reserve policy expectations, prompting a rotation into safe-haven assets like silver. What Drove the Silver Rally? The US Bureau of Labor Statistics reported that non-farm payrolls increased by 228,000 in the previous month, well above the consensus estimate of 180,000. The unemployment rate held steady at 3.9%, while average hourly earnings rose 0.4% month-over-month, slightly above forecasts. Normally, such data would boost the Dollar as it suggests the economy can handle higher interest rates. Yet the Dollar Index (DXY) fell 0.6% on the day, its largest single-session drop in three weeks. Analysts attribute the Dollar’s decline to a reassessment of the Fed’s rate path. While the headline jobs number was strong, the details revealed a softening in temporary hiring and a decline in average weekly hours worked — both early indicators of cooling demand. Markets interpreted this as a signal that the Fed may pause rate hikes sooner than previously expected, reducing the opportunity cost of holding non-yielding assets like silver. Silver, often more volatile than gold due to its dual role as a monetary metal and industrial commodity, surged 2.8% to trade near $24.90 per ounce. The rally was supported by a drop in US Treasury yields, with the 10-year note falling 8 basis points to 4.12%. Technical Outlook for XAG/USD From a technical perspective, silver broke above its 50-day moving average at $24.50, a level that had acted as resistance for the past two weeks. The next key resistance zone lies between $25.20 and $25.50, the latter being the 200-day moving average. A sustained move above $25.50 could open the door to $26.00, a psychological level that has not been tested since early February. On the downside, support is now established at $24.20, with stronger support at $23.80. The Relative Strength Index (RSI) on the daily chart moved to 62, indicating bullish momentum without entering overbought territory, leaving room for further upside. What This Means for Investors For precious metals investors, the current setup presents a mixed picture. The Dollar’s weakness provides a tailwind, but silver’s industrial demand component remains sensitive to global growth concerns. China’s manufacturing PMI data, released earlier this week, showed a slight contraction, which could cap silver’s gains if the industrial outlook deteriorates further. However, if the Fed signals a more dovish stance at its next meeting, silver could benefit from both monetary policy expectations and renewed investor interest in hard assets. The market is now pricing in a 65% probability of a rate hold in June, up from 50% before the jobs report. Conclusion The silver rally following the US jobs report underscores the complexity of current market dynamics. While strong employment data typically supports the Dollar, the nuanced details of the report shifted focus toward a potential Fed pause, benefiting precious metals. Traders will watch for further economic data, particularly inflation figures and retail sales, to confirm the trend. For now, silver appears well-supported, but the path forward depends on whether the Dollar’s weakness proves temporary or signals a broader shift in investor sentiment. FAQs Q1: Why did silver rally on a strong jobs report? A: While the headline jobs number was strong, details such as declining temporary hiring and reduced average weekly hours suggested a cooling labor market. This led markets to anticipate a potential Fed pause on rate hikes, weakening the Dollar and boosting silver. Q2: What are the key resistance levels for silver? A: The next key resistance is at $25.20 to $25.50, with the 200-day moving average near $25.50. A break above $25.50 could target $26.00. Q3: Is silver a good investment right now? A: Silver benefits from a weaker Dollar and potential Fed dovishness, but industrial demand risks from global growth slowdowns remain. Investors should consider their risk tolerance and monitor upcoming economic data for confirmation of the trend. This post Silver Price Forecast: XAG/USD Rallies as Strong US Jobs Report Weakens the Dollar first appeared on BitcoinWorld .

8 May 2026, 16:15

AUD/USD Jumps Above 0.7240 as Cooling US Wage Growth Eases Rate Hike Fears

BitcoinWorld AUD/USD Jumps Above 0.7240 as Cooling US Wage Growth Eases Rate Hike Fears The Australian dollar strengthened against the US dollar on Tuesday, pushing the AUD/USD pair above the 0.7240 mark. The move was driven by softer-than-expected US wage growth data, which tempered expectations for aggressive interest rate hikes by the Federal Reserve, even as geopolitical tensions surrounding Iran continued to simmer. US Wage Data Weakens Dollar Data released by the US Bureau of Labor Statistics showed that average hourly earnings rose less than forecast in the previous month. This development suggests that inflationary pressures in the US labor market may be easing, reducing the urgency for the Federal Reserve to maintain its current pace of monetary tightening. A slower pace of rate hikes typically weakens the dollar, as it lowers the yield advantage of holding US assets. This shift in monetary policy expectations provided a clear tailwind for risk-sensitive currencies like the Australian dollar. Iran Tensions Offset but Not Overwhelming The gains in the AUD/USD pair occurred despite ongoing hostilities involving Iran, which usually support safe-haven currencies like the US dollar. Reports of increased military activity and diplomatic strains in the Middle East have created an undercurrent of uncertainty in global markets. However, the impact of these geopolitical risks was largely overshadowed by the more immediate market reaction to the US economic data. Traders appear to be prioritizing the macro-economic outlook over geopolitical headlines for the time being, though the situation remains fluid. What This Means for Traders The break above 0.7240 is a technically significant level for the AUD/USD pair. It suggests that bullish momentum is building, driven by a reassessment of US interest rate expectations. For traders, the key question is whether this move can be sustained. Further upside will likely depend on upcoming US inflation data and any escalation in the Iran situation. If the dollar continues to weaken on the back of softer economic data, the Australian dollar could target higher resistance levels. Conversely, a sudden spike in geopolitical risk could quickly reverse these gains. Conclusion The AUD/USD rally above 0.7240 highlights the market’s current focus on monetary policy divergence over geopolitical risk. The softer US wage growth data has provided a clear catalyst for the move, but the shadow of Iran hostilities remains a potential source of volatility. Traders should monitor both economic releases and geopolitical developments closely in the coming sessions. FAQs Q1: Why did the AUD/USD pair rise? The pair rose primarily because softer-than-expected US wage growth data reduced expectations for aggressive Federal Reserve rate hikes, weakening the US dollar. Q2: How do Iran hostilities affect the AUD/USD? Geopolitical tensions like those involving Iran typically increase demand for safe-haven currencies like the US dollar, which can put downward pressure on the AUD/USD. However, in this case, the impact of the wage data outweighed the geopolitical risk. Q3: What is the key level to watch for AUD/USD? The 0.7240 level is now a key support zone. If the pair holds above this level, it could target the next resistance area around 0.7300. A break below 0.7200 would signal a potential reversal. This post AUD/USD Jumps Above 0.7240 as Cooling US Wage Growth Eases Rate Hike Fears first appeared on BitcoinWorld .

8 May 2026, 16:11

ECB's Lagarde’s digital euro warning: Why Europe shouldn’t just copy the U.S. stablecoin model

Lagarde warned that large stablecoins like Tether and USDC, which now dominate a $310 billion market, pose financial stability risks and could transmit stress to underlying asset markets during periods of turmoil.

8 May 2026, 16:10

USD/CAD Rises as Canadian Jobs Data Misses Expectations, Pressuring the Loonie

BitcoinWorld USD/CAD Rises as Canadian Jobs Data Misses Expectations, Pressuring the Loonie The Canadian dollar weakened against its U.S. counterpart on Friday after the latest employment report from Statistics Canada came in well below market expectations. The USD/CAD pair climbed to session highs as traders priced in a higher probability of further monetary easing by the Bank of Canada. Employment Data Disappoints Canada’s economy added only 1,100 jobs in March, a sharp miss compared to the consensus forecast of 20,000 new positions. The unemployment rate edged up to 6.2%, signaling softness in the labor market that could influence the Bank of Canada’s next policy decision. The previous month’s strong gains were partially revised lower, adding to the bearish sentiment around the loonie. Market Reaction and BoC Outlook Following the release, USD/CAD jumped from the 1.3640 area to above 1.3700, reflecting immediate selling pressure on the Canadian dollar. The move was amplified by broad U.S. dollar strength, which also benefited from safe-haven flows amid ongoing trade uncertainty. For the Bank of Canada, the soft jobs report strengthens the case for a rate cut at the next meeting in June. Governor Tiff Macklem has previously signaled that the central bank is prepared to adjust policy if economic conditions deteriorate. Money markets are now pricing in a roughly 60% probability of a 25-basis-point cut, up from 45% before the data. Implications for Traders and Importers The weaker Canadian dollar has immediate implications for businesses and consumers. Importers of U.S.-denominated goods will face higher costs, potentially feeding into domestic inflation. Exporters, however, may benefit from improved competitiveness in U.S. markets. For forex traders, the key level to watch is the 1.3750 resistance zone; a break above that could open the door to the 1.3800 handle, while support sits near 1.3640. Broader Context The Canadian labor market has shown signs of cooling after a period of resilience. Wage growth, while still elevated, has moderated, and the services sector has been particularly weak. The data adds to a growing narrative that the Canadian economy is losing momentum, which could keep the loonie under pressure in the near term. Conclusion The March employment miss is a clear downside surprise for the Canadian dollar and reinforces expectations of a Bank of Canada rate cut. USD/CAD is likely to remain bid as long as the data continues to weaken, but traders should watch for any upward revisions or positive surprises in upcoming releases that could reverse the trend. FAQs Q1: Why did USD/CAD rise after the Canadian jobs data? The employment report missed expectations, suggesting the Canadian economy is weaker than anticipated. This raises the likelihood of a Bank of Canada interest rate cut, which tends to weaken the Canadian dollar relative to the U.S. dollar. Q2: What is the next key level for USD/CAD? The immediate resistance is around 1.3750. A sustained break above that level could target 1.3800. On the downside, support is seen near 1.3640, the level before the data release. Q3: How might this affect Canadian consumers? A weaker Canadian dollar makes imported goods more expensive, which could contribute to higher consumer prices. However, it benefits Canadian exporters by making their products cheaper in foreign markets. This post USD/CAD Rises as Canadian Jobs Data Misses Expectations, Pressuring the Loonie first appeared on BitcoinWorld .

8 May 2026, 15:36

ECB’s Lagarde Pushes Back on Euro Stablecoins, Warns of ‘Structural Weaknesses’

The European Central Bank chief says Europe "knows which port it is sailing to,” and it's not towards a euro stablecoin.