Cash payments in the United States account for only 18% of all payments, and more than 100 countries plan to establish digital currencies. In 2020, many countries have launched central bank digital currency research projects, but the Federal Reserve has always denied plans to issue a digital dollar.

Caitlin Long, CEO of Custodia Bank, noticed that Adyen, a fintech company, was listed as an early adopter of the Federal Reserve's new FedNow instant payment service, despite not being approved to establish a branch in the US until a year after receiving a federal master account. Long questioned how Adyen was able to obtain a master account and qualify to clear US$ payments at the Fed, as fintechs are thought to be excluded. Long has been fighting for Custodia to gain a master account, which would provide access to the FedWire network, but the rules around access have been unclear. The Federal Reserve has not yet commented on the matter.

The U.S. Dollar Index has seen a significant decline due to increasing hopes of the Federal Reserve ending interest rate hikes. This has led to a weakening correlation between the USD and Bitcoin, meaning that movements in the U.S. dollar will have little impact on BTC.

The Federal Reserve of the United States has confirmed that its new instant payment service for organizations, FedNow Service, is not a central bank digital currency (CBDC). The FedNow Service has been certified as "ready" after testing with 41 financial institutions, 15 service providers, and the U.S. Department of the Treasury, and is set to launch by the end of July 2023.

Raoul Pal, a former Goldman Sachs executive, believes that the crypto markets could experience a parabolic surge in the near future. He draws comparisons to the 2015-2016 bull market, which saw the entire space rally by over 700% in a matter of months.

The US dollar remained at a 15-month low on Friday due to easing inflation, which has led markets to believe that the Federal Reserve is nearing the end of its rate hike cycle.

According to Watcher guru report, Federal Reserve President, James Bullard, is officially set to resign from his position this August. Indeed, The Federal Reserve Bank of St.Louis announced the decision Bullard made, which will officially go into effect on August 14th.

Bitcoin's value remains above $30,000 despite a slight drop in the US inflation gauge, the Consumer Price Index (CPI), which hit its lowest yearly level in June. The CPI increased by 3% from the previous year, down from 4% a month earlier, with goods and services rising by 0.2% month-over-month.

Mike Novogratz, a billionaire in the cryptocurrency industry, predicts that Bitcoin will experience significant growth by the end of 2023. Novogratz believes that Bitcoin's current consolidation phase, which is between $28,000 and $32,000, will lead to a substantial increase in value.

New data from Kaiko shows that the correlation between Bitcoin and the Nasdaq Composite Index has dropped to less than 1%, which is at a two-year low. This suggests a weak negative relationship between Bitcoin and the NASDAQ, indicating that Bitcoin prices moved in the opposite direction or are unrelated to the NASDAQ Composite Index action.