Institutions dumped huge amounts of Bitcoin in late December after its peak high, but they’re now back to buying with it below $100,000, says Blocktrends’ Cauê Oliveira.
In a striking revelation on the latest episode of the Coin Stories podcast, host Nathalie Brunell interviewed The Digital Chamber founder & CEO Perianne Boring, who disclosed an unvarnished and previously unknown response from members of the United States Federal Reserve. According to Boring, when she discussed the idea of a US Strategic Bitcoin Reserve […]
Early this month, the US Federal Reserve reduced the federal fund interest rate by 25bps, bringing down borrowing costs to the range of 4.25% – 4.5%. Announcing the third rate cut of the year, Fed Chair Jerome Powell hinted that the organisation would take a cautious approach when considering any future rate cuts. Now, experts …
In a rather unseemingly fashion, Bitcoin’s (BTC) journey to a new all-time high at $108,268 was followed by an estimated 17% decline pushing the asset’s price to a local bottom of $92,281. This heavy price decline has been attributed to the recent policy announcement by the US Federal Reserve which adopted another 25 basis point […]
In an interview with Yahoo Finance, US Senator Cynthia Lummis of Wyoming outlined a proposal to grant the Federal Reserve the authority to hold Bitcoin as part of the United States’ official reserves. She argues that this approach could improve the country’s long-term financial stability, strengthen the global role of the US dollar, and provide […]
Today, December 19, 2024, the overall cryptocurrency market is experiencing notable losses, with major cryptocurrencies like Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and XRP seeing significant price declines over the past 24 hours. A potential reason for this drop is the recent Federal Reserve rate cut meeting. Reason Behind the Crypto Market Decline During the …
The price of bitcoin, already lower from yesterday, dipped below $104,000 in the minutes following the announcement.
The price of bitcoin, already lower from yesterday, dipped below $104,000 in the minutes following the announcement.
The US Federal Reserve is set to hold its final meeting for the year 2024 today. It is expected that the US Fed will make some important announcements after the meeting. There is a high chance of the announcement of a 25 basis points interest rate cut. Let’s examine the scenario. US Fed Expected to …
This is an extremely crucial week for the US market. The US Federal Reserve is expected to announce a 25bps rate cut on December 18. The event is expected to impact the crypto market. The upcoming is the second rate cut in 2024. Here is what you should know. Federal Reserve’s Interest Rate Decision: What …
CME FedWatch shows the market is expecting the Federal Reserve to cut rates by 25 basis points this month, which would be the third cut this year.
Bitcoin fell to $85,000, as CPI data came in hotter month-over-month as odds of a Fed pause increase at next policy meeting in December.
Fed Chair Jerome Powell's speech later today could shake up markets as he will face questions about the central bank's outlook on monetary policy and inflation after Donald Trump's decisive win of the U.S. presidential election.
Elevated interest rates in the U.S. have dented ether’s appeal as the internet equivalent of a bond, offering a fixed-income-like return on staking.
As the Federal Open Market Committee (FOMC) meets today, the crypto market’s focus is on the Federal Reserve’s forthcoming announcements. Scheduled for 2:00 PM ET are both the Fed Interest Rate Decision and the FOMC Statement, with Fed Chair Jerome Powell’s press conference following at 2:30 PM ET. These events are poised to have significant implications for cryptocurrencies and broader financial markets. What The Crypto Market Can Expect Market participants overwhelmingly anticipate a rate cut. According to the CME FedWatch Tool, 97.5% expect the Federal Reserve to implement a 25 basis points (bps) rate cut. This expectation aligns with recent economic indicators and reflects a consensus that the Fed will continue its cautious monetary easing. “The Federal Reserve is expected to cut the Fed funds rate by 25 basis points at the November 7 meeting. This aligns with market expectations and follows a weaker-than-expected nonfarm payroll report,” Althea Spinozzi, Head of Fixed Income Strategy at Saxo Bank, notes. Related Reading: ‘Crypto Has Already Won’, Regardless Of Trump Or Harris Win: Bitwise CIO The Fed is likely to maintain a measured approach, emphasizing gradual rate cuts over abrupt policy shifts. Chair Powell is expected to underscore a data-dependent and restrained policy stance, focusing on the nuanced dynamics of the current economic landscape. Spinozzi adds, “The Fed is likely to continue its measured approach, emphasizing gradual rate cuts rather than drastic policy shifts. Chair Jerome Powell is expected to highlight a data-dependent and restrained policy stance.” While headline inflation appears to be easing, core components suggest persistent pressures. The overall Consumer Price Index (CPI) increased by 2.4% year-over-year in September, the lowest since February 2021. However, critical sectors like shelter and services continue to see elevated prices. Shelter prices are up 4.9% year-over-year, and services excluding energy rose by 4.7%. “The core PCE inflation rate—a key Fed measure—has stabilized at an annualized 2.3% over both three- and six-month averages but continues to run above the Fed’s 2% target,” Spinozzi highlights. Persistent inflation in these sectors could exert upward pressure on overall inflation, complicating the Fed’s efforts to achieve its target. The labor market remains robust despite recent disruptions from hurricanes and strikes. The unemployment rate stands firm at 4.1%, and temporary layoffs have declined in October. Wage growth is showing signs of cooling; the Employment Cost Index (ECI) for Q3 surprised to the downside at 0.8% quarter-over-quarter, the softest since Q2 2021. Year-over-year, the ECI remains elevated at 3.9%, significantly above the Global Financial Crisis (GFC) average of 2.16%. Weekly jobless claims are also well below the post-GFC average, indicating sustained labor market strength. Related Reading: Top Crypto Analyst Unveils Best Altcoins For The 2025 Bull Run Overall, the US economy has exhibited unexpected robustness. Third-quarter GDP grew by 2.8% annualized, and personal consumption rose by 3.7%, the strongest quarter since early 2023. However, concerns about the sustainability of this growth persist. Real disposable income has softened, and household savings are declining, potentially limiting future consumer spending. Adding to the complexity is the US presidential election. The victory by Donald Trump could significantly influence fiscal policies, thereby impacting the Fed’s longer-term rate path. “The Federal Reserve will be mindful of how its actions and commentary could influence financial markets that may already be experiencing quite volatile conditions,” James Knightley, Chief International Economist at ING, remarks. For crypto traders, Jerome Powell’s commentary during the FOMC press conference on anticipated inflationary effects stemming from the Trump election is the key focus. Experts expect that the Trump presidency could lead to policies that underpin inflation, such as tax cuts and increased fiscal spending, potentially forcing the Fed to keep rates elevated. Despite the political backdrop, the Fed is expected to proceed with the rate cut. ING analysts suggest, “Even after September’s 50bp rate cut, monetary policy is in restrictive territory, and the Fed has scope to keep cutting rates back to a more neutral level to give the economy a little more breathing space to continue growing strongly.” The current target range for the Fed funds rate is 4.75% to 5%, well above the estimated “neutral” level of 3% to 3.5%. The consensus is that the Fed has room to normalize its policy, especially with the labor market cooling. The crypto market will be closely monitoring not just the rate decision—which appears largely priced in—but also the Fed’s commentary on inflation, economic growth, and the potential impacts of the presidential election. Any indications from Chair Powell regarding future policy shifts could have significant implications for the Bitcoin and crypto markets. At press time, Bitcoin traded at $75,080. Featured image from Shutterstock, chart from TradingView.com
The Federal Reserve is about to announce a 25-basis-point rate cut, likely bringing rates down to the 4.5%-4.7% range. But since everyone’s already expecting this move, it might not make waves on its own. The real buzz will come after Fed Chair Jerome Powell speaks about how he sees President-elect Trump’s economic plans playing out. …
A seasoned market expert has shed light on Bitcoin’s current bearish performance, noting that the small price correction that has led to a significant liquidation of BTC positions is “healthy and reasonable,” addressing worries about its future potential. Bitcoin’s Bearish Move Not A Thing To Worry About? Bitcoin’s recent upward rally witnessed earlier last week […]
The crypto market eagerly awaits the upcoming FOMC interest-rate decision by the US Federal Reserve this week. One of the highly anticipated events this week is expected to shape the sentiments in the digital assets space, potentially setting the path for Bitcoin and other altcoins.. Rate Cut Soon? The digital asset market has reacted positively …
Wider economic and stock market-related issues are impacting Bitcoin’s softening price, but futures market data shows traders still feel bullish.
As the crypto market maintains its bullish strength, many key metrics of Bitcoin have been demonstrating strong and optimistic trends in recent weeks, which could impact prices positively, suggesting a promising outlook for BTC in the upcoming days. A Strong Growth In Bitcoin Futures Premium Bitcoin‘s futures annualized premium, a crucial metric that often gives […]
Bitcoin fell short of its all-time high, but multiple Bitcoin price metrics show BTC price on target to hit new all-time highs
Bitcoin price rallies as traders react to geopolitical and economic uncertainty, as the potential outcome of the upcoming US election.
Bitcoin’s upcoming price recovery will be driven by a handful of unique factors.
Amid the recent renewed upward price movement in Bitcoin, the demand for the largest cryptocurrency asset among short-term holders has witnessed a notable rise, suggesting strong optimism about BTC’s potential for growth in the near term. Short-Term Holders Demand For Bitcoin Rebounds Axel Adler Jr., a macro researcher and author at leading on-chain firm CryptoQuant, […]
Bitcoin price recaptures the $62,000 level as investor grow increasingly concerned about the fiscal health of the US
Goldman Sachs CFO Denis Coleman believes the Federal Reserve’s recent 50 basis point interest rate cut positions the U.S. for a soft landing. He expressed optimism that the move will ease capital costs and boost market confidence heading into 2025. While inflation levels are decreasing and unemployment remains stable, some experts, including JPMorgan CEO Jamie …
Given the renewed upward performance of the entire cryptocurrency market following the recent Federal Reserve (Fed) interest rate cut, Bitcoin is witnessing a wave of bullish predictions from crypto experts, with some forecasting that BTC’s final surge for this cycle has officially set in. Bitcoin Might Be Poised For The Last Great Rally Crypto expert […]
Bitcoin’s price has surged to $61,000 following a significant move by the U.S. Federal Reserve to slash interest rates by 50 basis points. This marks the first interest rate cut in four years, an aggressive start to its first easing campaign. Fed Plans Another Rate Cut by December The U.S. Federal Reserve reduced its benchmark …
A rate cut could add to inflation and strengthen the Japanese yen, crashing markets, Hayes explained.
Bitcoin price wobbles near $58,000 as uncertainty over the Fed’s monetary policy decision looms and traders eyeball weak economic data in China.