Delayed rate cuts could be more aggressive when they happen, the investment bank said.
All eyes will now turn to Fed Chair Jerome Powell's post-meeting press conference for further clues about the central bank's thinking on monetary policy.
As expected, the U.S. Federal Reserve left interest rates unchanged at a range between 4.25% and 4.50%.
Analysts said volatility could resurface this week after this week's decision on funding rates, which markets expect will stay the same.
Traders looking for cues on potential Fed-led moves in major tokens might want to see what implied volatility indices are saying.
We have only seen some nuanced demand for protective BTC puts, reflecting limited caution among sophisticated traders, Deribit's CEO told CoinDesk.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The US Federal Reserve confirmed that it rescinded earlier directives concerning banks’ involvement with crypto and dollar tokens, according to an April 24 statement. One significant change involves the 2022 supervisory letter, which required banks to notify regulators before engaging in any crypto activities. Going forward, banks will no longer need to provide advance notification. […]
The post Federal Reserve relaxes crypto partnership rules for banks appeared first on CryptoSlate.
The Federal Reserve said it is taking back prior-reporting requirements on banks' crypto and stablecoin activities.
Like the other U.S. bank agencies, the Fed has swept the decks of previous directives to bankers that they get sign-offs from the regulator for crypto activity.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
US financial markets plunged Monday while cryptocurrency prices remained firm, as US President Donald Trump ramped up his public feud with Federal Reserve Chairman Jerome Powell, The Guardian and other news outlets reported Tuesday. The clash between the country’s highest political and monetary leaders shook traditional markets to their core but left crypto surprisingly unscathed. Related Reading: Shiba Inu Sees $120 Million Weekly Surge—Whales Tighten Their Grip Stock Markets Plummet After Presidential Remarks American stock indices closed forcefully lower on April 21, with broad losses at major benchmarks. The S&P 500 declined 2.3%, the tech-dominated Nasdaq lost 2.4%, and the Dow Jones Industrial Average plummeted by almost 1,000 points, down 2.4%, based on Google Finance data. JUST NOW: President Trump calls Jerome Powell a “major loser” and demands interest rates lowered “now” pic.twitter.com/rAM7CVmPw2 — Morning Brew ☕️ (@MorningBrew) April 21, 2025 Trump Calls For Rate Cuts And Slams Fed Chair Underlying the market volatility is a rapidly intensifying clash between President Trump and Federal Reserve Chairman Powell. Trump used his April 21 Truth Social forum to post that “Preemptive Cuts in Interest Rates are being called for by many.” The President contended rate cuts are warranted because “Energy Costs [are] way down, food prices [are] substantially lower, and most other ‘things’ [are] trending down,” asserting “there is virtually No Inflation.” Trump has repeatedly criticized Powell, calling him “Too late and wrong” for not cutting interest rates, which remain at 4.5%. Tensions rose after Powell warned that Trump’s tariffs could cause stagflation, prompting the president to demand his removal, saying his “termination cannot come fast enough.” Dollar Weakens While Crypto Shows Strength As the political conflict rages on, the US Dollar Index (DXY), which tracks the greenback relative to other significant currencies, dipped below 98 on April 21, recording a three-year low. This follows a falling trend that has had the dollar drop over 10% of its value since the start of 2025, latest data shows. Bitcoin Unfazed Amid Political Turmoil In stark contrast to traditional markets, cryptocurrencies have maintained their weekend gains. The total cryptocurrency market capitalization, based on TradingView data, remained steady at $2.74 trillion. Bitcoin price, according to data from Coingecko, hit a four-week high of $88,428. Why is the price of bitcoin flat? Should Trump fire Jerome Powell? Will The US lose reserve currency status? I answer your questions ???? pic.twitter.com/S7Q6hANR3H — Anthony Pompliano ???? (@APompliano) April 18, 2025 Industry Figures Warn Vs. Political Interference Cryptocurrency businessperson Anthony Pompliano warned against presidential intervention in the Federal Reserve leadership. In a video he uploaded on X on April 18, Pompliano declared that he does not believe that Trump should come in and unilaterally fire the Fed chair. Related Reading: Pi Network Frenzy Builds: $5 Prediction As Whales Take Out Millions He further stated that policy disagreement firings would lead the nation into perilous waters: “Where you have a disagreement and then the firing, I think that’s not really the area that we want to go into.” Market experts believe the central bank will hold steady at its next meeting on May 7. According to data, interest rate markets now forecast only a 13% probability of a rate reduction at that session. Featured image from Chip Somodevilla/Getty Images. chart from TradingView
The Cardano price may be preparing for a powerful rally toward $1.7, as new indicators suggest a potential recovery. A leading crypto analyst has identified multiple bullish catalysts that could drive ADA’s momentum and help propel the cryptocurrency to this bullish target. Institutional Interest To Fuel Cardano Price Recovery According to a recent technical analysis by a pseudonymous TradingView analyst, ‘Risk_Adj_Return,’ the Cardano price is suddenly showing signs of recovery after a period of sluggish performance. This seemingly bullish turnaround has sparked predictions of a potential surge to $1.7. Related Reading: Cardano Price Prediction: ADA Set To Crash To $0.4 After Correction To Liquidity Zone According to the analyst’s report, several factors have been fueling ADA’s recovery. Despite its downtrend, large spot purchases have been observed, hinting at growing interest from institutional investors. The analyst also mentioned that political developments from key figures, such as US President Donald Trump, could spark further bullish sentiment for Cardano. Although many of the present institutional buy-ins for Cardano have been followed by sell-offs, possibly from short-term traders, the sheer volume suggests that major players are closely watching the market. Part of this renewed institutional interest is attributed to the US Federal Reserve (FED) and broader macroeconomic signals. Investors may be hoping for a shift in monetary policy or clear signs of easing inflation in the upcoming FOMC meeting, as this could boost risk assets like ADA. Any alignment between the Cardano price action and the FED decision could become a significant catalyst for upside momentum. In his Cardano price chart, the TradingView analyst highlighted a bullish long trade setup on the 4-hour timeframe, utilizing the Heikin-Ashi candles. The trading strategy is supported by multiple take-profit levels, with the entry point marked near Cardano’s current price range. A clear stop loss has also been placed just below the local support to manage downside risks. The trade plan involves three key take-profit levels: $0.73, $0.96, and $1.21. These targets align with previous resistance zones, allowing traders to potentially lock in gains before ADA reaches its ultimate upside target of $1.74. ADA Breakout Unlikely Amid US Trade Tensions The Cardano price is showing signs of strength, according to a market expert, ‘AMCrypto’, who notes that it is holding firm at a critical ascending support trendline on the 4-hour chart. After a recent decline, ADA bounced off the trendline, maintaining the bullish structure of an Ascending Triangle. Related Reading: Cardano Price Could Be Set For 100% Rally As This Bullish Triangle Has Formed On The Daily Timeframe Currently trading around $0.61, Cardano still faces resistance at $0.67. A confirmed close above this threshold could signal a breakout, potentially propelling its price toward the $0.73 – $0.75 range. However, despite these bullish technicals, macroeconomic uncertainty remains a key obstacle to ADA’s breakout potential. The ongoing US-China trade war tensions continue to fuel market volatility, creating headwinds for a sustained rally. The current market decline and instability fueled by this trade war have also kept many investors on the sidelines as they await stability. Featured image from Pixabay, chart from Tradingview.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
"We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension," said Powell of the effect of the Trump tariffs.
There could be a "loosening" of crypto-related rules in banks' future, according to Federal Reserve Chairman Jerome Powell.
Futures now price in up to five rate cuts in 2025 as investors bet on an aggressive policy pivot.
The Fed chair spoke Friday with markets in full blown panic following the Trump tariff announcement.
TD Cowen says hurdles "can still be overcome given how many Democrats are supportive of the need to enact a stablecoin bill."
D.O.G.E. job cuts, tariffs, a restrictive Fed and new immigration policies could weigh on markets for the next six to nine months, said Lekker Capital's Quinn Thompson.
The move represents the first-ever “bank-issued stablecoin” issued on a permissionless blockchain, namely Ethereum.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The crypto industry received a significant legal victory as Ripple CEO Brad Garlinghouse announced on March 19 that the U.S. Securities and Exchange Commission (SEC) had officially dropped its appeal against the company. The announcement came in a video posted on social media platform X, where Garlinghouse noted the regulatory agency’s decision to end its pursuit of further litigation. Besides this interesting development, another major financial development has taken center stage in the crypto market in the past 24 hours; the outcome of the Federal Reserve’s latest meeting. Fed Keeps Interest Rates Steady Amid Uncertainty The outcome of the latest Fed meeting can be divided into six key decisions. First, the Federal Reserve opted to maintain interest rates at their current level, keeping the borrowing rate in a range between 4.25% and 4.5% for the second consecutive meeting. This decision is part of a continued pause in the Fed’s tightening cycle. Related Reading: Bitcoin Price Crash: 6 Key Events To Watch Out For In Crypto This Week Secondly, the Fed noted that uncertainty surrounding the economy has increased, and third, the Fed’s updated projections were the shift in expectations for rate cuts in 2025. The median forecast suggests 50 basis points of cuts for the year, but a growing number of Fed officials are less convinced that rate reductions will be necessary. In December, only one official anticipated no rate cuts in 2025. However, there’s now a more divided outlook, and that number has now risen to four, as noted in a post on social media platform X by analysts at The Kobeissi Letter. Beyond interest rates, the Fed revised its economic growth projections downward for 2025, suggesting that policymakers see slower expansion ahead. This adjustment comes alongside an increase in the Fed’s inflation forecast for the same period, reflecting concerns about price pressures persisting longer than previously anticipated. With inflation remaining a key focus, the central bank is treading carefully as it evaluates the right time to pivot toward a looser monetary stance. Fourthly, the Fed announced that it would slow the pace of its balance sheet runoff beginning in April. This is alongside a sharp reduction in the Fed’s 2025 growth projections and a markup in their 2025 inflation forecast. Implications For Crypto Markets And Digital Assets For the crypto industry, the Fed’s decision to hold rates steady and its mixed messaging on future cuts introduce a dynamic situation to Bitcoin and others. The fact that the Fed is still concerned about inflation and economic uncertainty shows that the path to more accommodative policies regarding the crypto industry may not be as smooth. Related Reading: Crypto Market Sees Record Flash Crashes, What’s Going On? However, if the Fed stays hesitant to cut rates and economic growth slows as projected, digital assets may face headwinds later in the year, which may slow down the predicted growth by crypto analysts. Featured image from Unsplash, chart from Tradingview.com
Gold continues to be the star of the cycle, jumping to a new record above $3,050 per ounce.
As expected, the U.S. Federal Reserve left interest rates unchanged Wednesday at a range between 4.25% and 4.50%.
The expected end of quantitative tightening could bode well for BTC and other risk assets, but gains may be tempered by stagflationary adjustments in economic projections.
The Nasdaq and S&P 500 were both lower by more than 1% about an hour before the close.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
A Senate committee voted to advance a bill that would eliminate references to reputational risk as a way to supervise financial institutions.
Wednesday's cooler-than-expected U.S. CPI inflation reading has strengthened the case for potential Federal Reserve rate cuts.