In hours following Jerome Powell’s announcement of keeping interest rates unchanged, Bitcoin and the broader cryptocurrency market have entered a steep correction. The Bitcoin (BTC) price is down over 3.5% in the last 24 hours and has moved closer to the $25,000 level.
Similarly, the broader cryptocurrency market has eroded over $40 billion of investors’ wealth and is on the verge of falli...
Crypto Market News: US Federal Reserve Chair Jerome Powell on Wednesday said the central bank is keen on bringing the inflation rate down to the 2% target. He said that almost all policymakers view the need for some rate hikes later in the year. He had delivered the remarks in a press conference following the decision to pause interest rate hike. Earlier, the Fed officials felt it was appr...
The U.S. Federal Reserve bets on keeping interest rates unchanged at 5%-5.25% after the two-day Federal Open Market Committee (FOMC) meeting on Wednesday. The FOMC Dot Plot indicated Fed officials were mostly dovish on the interest rate decision and voted to “skip” in June for additional hikes later this year.
Wall Street giants remain bullish on crypto and stocks, as they correctly estima...
Bitcoin price remains bullish as CPI data shows US inflation declining to 4.9% . Although the reaction was brief, it emphasized BTC’s position in the market as a riskier asset class such that at one point, it stepped above $26,430. Bitcoin price faced a brief sell-off last week after the US SEC sued two of the most prominent crypto exchanges, Binance and Coinbase.
The second largest crypto...
Crypto Market News: Ripple chief executive officer Brad Garlinghouse lambasted the U.S. Securities and Exchange Commission (SEC) for all the mess around Hinman emails and the Ripple lawsuit. In a shocking discovery in the documents, Hinman wrote that he didn’t see a need to regulate Ethereum (ETH) as a security and that he would consult Ethereum cofounder Vitalik Buterin later that week to ...
Crypto Market News: The Bureau of Labor Statistics had on Tuesday released the US Consumer Price Index (CPI) data for the month of May 2023. The department said that in May, the Consumer Price Index for all urban consumers increased 0.1%, seasonally adjusted, and rose 4% over the last 12 months, not seasonally adjusted. Hence, the inflation data for the month came in as expected, while the ...
Crypto Market News: Former Coinbase chief technology officer and crypto investor Balaji Srinivasan once again made a claim about the state of the crypto market. Earlier, in March 2023, he made a sensational claim about Bitcoin price reaching $1 million shaking not just the crypto market but also the wider financial markets. Meanwhile, the investor believes that the United States’ global vet...
Crypto Market News: Ahead of the crucial Federal Open Market Committee (FOMC) meeting scheduled for June 14, 2023, the financial markets are widely anticipating that the US Federal Reserve halt interest rate hikes again. A clear indication to this is seen in the S&P 500 Index behavior, which is at the cusp of closing at a 13 month high on Monday, largely due to the expectation of the ce...
Bitcoin and Ethereum prices showing resilience amid positive macro factors. However, the market conditions remain bleak due to US SEC lawsuits against Binance and Coinbase and selling pressure on Cardano, Solana, and Polygon (MATIC).
Investors are bracing for the big week ahead with key events including US CPI, PPI data, and the US Federal Reserve’s monetary policy decision, as well as inte...
The largest cryptocurrency, Bitcoin has remained relatively stable amid a revamped market-wide crackdown by the United States Securities and Exchange Commission (SEC). In addition to holding support at above $25,000, Bitcoin price sits above the critical 200-day Exponential Moving Average (EMA), as observed on the daily timeframe chart.
According to Chinese reporter, Wu Blockchain “With the...
