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“# Fed still undecided about digital dollar, says Chair Jerome Powell ” The United States Federal Reserve is still evaluating the prospects of introducing a digital currency for the country but says it has not yet decided on the matter. Speaking at a news conference on Wednesday, Powell stated that the Federal Reserve was studying…
“# Crypto markets soar after Fed commits to printing and Evergrande plans to pay its debt ” The cryptocurrency ecosystem is showing signs of a recovery on Sept. 22 following a 48-hour corrective stint which saw Bitcoin and altcoins sell-off to their swing lows. Equities and crypto investors were clearly worried about the possible bankruptcy…
“#Fed foresees a potential rate hike as soon as next year” The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it’s concerned that high inflation pressures may persist. In a statement, the Fed also said it will likely…
“# Key Bitcoin options ‘fear’ indicator reflects traders’ regulatory concerns ” After 46 consecutive days of trading above $42,000, Bitcoin (BTC) price started to show weakness on Sept. 21. Over the last three days, the 13% accumulated loss was enough to erase the hard-earned gains added since Aug. 6. Historicals also show that the previous…
“# Bitcoin extends slide below $43K as Binance’s BTC stash grows to May-crash levels ” Despite Bitcoin (BTC) dropping below the $43,000 mark on Monday, the outflow of BTC from exchanges has continued in a multi-month trend, particularly on Coinbase Pro. BTC/USD 4-hour candle chart, Coinbase. Source: TradingView Over the past month, the amount of…
“# Bitcoin jumps toward $49K amid fears 5%-plus inflation is here to stay ” Bitcoin (BTC) inched higher on Sept. 18 as the focus shifted to the Federal Open Market Committee’s (FOMC) policy meeting in the wake of lower inflation numbers last Tuesday. The BTC/USD exchange rate approached $49,000 on the Coinbase exchange, hitting $48,825…
“# CBDCs could lead to ‘deeply negative interest rates’: Wall Street Journal ” According to the Wall Street Journal, central bank digital currencies (CBDCs) could actually negatively impact interest rates by giving policymakers an additional tool. A Sept. 8 article authored by senior columnist James Mackintosh argued that the difference between a CBDC and cash…
“# Bitcoin’s sharp fall from $50K linked to stronger US dollar, gold — Correlation shows ” Bitcoin (BTC) and spot gold hovered below their key psychological levels on Wednesday as a stronger United States dollar weighed on investors’ appetite for hedging assets. The BTC/USD exchange rate dropped 5.27% to its intraday low of $44,423 but…
“# Gold, bond portfolios are ‘naked’ without Bitcoin, Bloomberg strategist asserts ” What is protecting an investment portfolio from potential stock market volatility? As per Bloomberg Intelligence’s Mike McGlone, a merged exposure of Bitcoin (BTC), gold, and government bonds. The senior commodity strategist, who sees BTC heading to $100,000, pitted derivatives in a new report representing the…
“# Bitcoin price overcomes $50K, stocks slide after disappointing US jobs report ” The S&P 500 slid to the intraday highs of Sept. 2 while Bitcoin (BTC) climbed to its highest levels in more than three months. The moves came as a key report on Sept. 3 showed that the United States economy added fewer…