Crypto ownership has not significantly risen even with the bear market over, according to the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute.
Dallas-based United Texas Bank is the latest crypto-friendly bank to face a cease and desist order from the US Federal Reserve, according to a press release issued on September 4, 2024. Federal Reserve Keeping A Close Eye On Bank’s Crypto Business The US Federal Reserve has identified United Texas bank as having “significant deficiencies” in […]
The U.S. central bank has indicated it will cut rates at its mid-September meeting, but the size of the move is up for debate.
Bitcoin remains below $60,000 and is falling. While there is optimism that bulls will flow back and reclaim key resistance levels in the coming days, one analyst on X is bearish. Bitcoin Must Clear This Level For Bulls To Take Over In a post on X, the analyst said the short-term trend will favor sellers […]
Bitcoin may be decoupling from concerns about a US recession and aligning more closely with the US dollar's performance and signs of easing monetary policy, according to ETC Group.
As the cryptocurrency market turns optimistic, a crypto analyst has predicted that Shiba Inu (SHIB) is about to undergo a bullish breakout. However, he emphasizes that in order to validate the meme coin’s upward trajectory, it must first overcome a significant resistance level. Shiba Inu Poised For Gains In Upcoming Weeks Ronimus Prime, a trader […]
The bank services several crypto-friendly financial technology companies.
The US Treasury and Federal Reserve plan to redefine “money” used under the Bank Secrecy Act, as they aim to include cryptocurrencies and digital assets in new reporting requirements.
The US Treasury and Federal Reserve plan to redefine “money” used under the Bank Secrecy Act, as they aim to include cryptocurrencies and digital assets in new reporting requirements.
Bitcoin’s correction appears to be losing steam, as indicated by price momentum divergence, the formation of a Doji candlestick and other bullish patterns.
Critics argue that the US Federal Reserve’s actions are a significant overreach and could stifle innovation in the cryptocurrency sector.
Presidential candidate Robert F. Kennedy Jr. heard about Bitcoin from his kids. Now, he believes it should be part of the bedrock of America’s monetary system.
MAGA is painting a classic bullish reversal pattern right ahead of Donald Trump's keynote at the upcoming Bitcoin 2024 conference in Nashville.
Bullish divergence on the price chart, September rate cut prospects and increasing M2 supply are some catalysts that could resume the Bitcoin bull market cycle.
The secured overnight financing rate surged Monday, indicating liquidity stress in the U.S. banking system.
The Federal Reserve’s leadership seemingly views generative AI as a “super analyst” capable of turbocharging the agency’s work process.
Traders are seemingly going risk-off ahead of a U.S. CPI print and a Fed monetary policy meeting, with Bitcoin falling to a weekly low.
Out of four recent crypto regulatory initiatives, the stablecoin bill has the highest chance of being passed before the U.S. presidential election, the report said.
Historical Bitcoin performance data and investors' expectation that the Fed will “pump our bags” have traders anticipating a strong BTC price rebound.
Major stakeholders in the U.S. financial sector, including Citi, JPMorgan, Mastercard, Swift and Deloitte, are teaming up to explore sharing ledger technology by simulating multiasset transactions in dollars.
Some analysts were frightened by the recent drop in Bitcoin prices. Though the coin is showing signs of strength, multiple leveraged longs were liquidated early this week. In a post on X, one analyst thinks Bitcoin might have just found support, bottoming up after the contraction this week, pushing it lower from the multi-week range established in mid-March through to the better part of April. Bitcoin Retracement Is Deeper And Took Longer: Bottom In? Expressing confidence, the analyst cited a historical pattern. Based on a price action assessment in the weekly chart, the analyst notes that whenever Bitcoin posts a deep retracement, there is usually a higher probability of the coin bottoming up and shaking off weakness. Related Reading: Bitcoin Update: $120 Million Futures Liquidated As Price Takes A Beating At the same time, prices tend to recover after a retracement that takes longer than expected. Building on their historical pattern observation, the analyst applied it to the current BTC situation. The trader said up to the current level, the retracement from an all-time high is deeper and also took longer than usual, spanning several weeks. As a result, the analyst projected a high likelihood that Bitcoin prices might have found a bottom. While confidence abounds, it is still challenging to pick bottoms. Bitcoin and crypto assets are volatile, with prices moving quickly in either direction. At spot rates, Bitcoin is trading above $60,000, reversing losses of May 1. Even though this might cement the analyst’s position, BTC remains within a bear breakout formation, defined by the wide-ranging, high-volume bear bar of April 30. Moreover, the coin is still boxed away from the April trade range, suggesting that weakness remains. Should there be a conclusive close above $62,000, the trend will likely shift in favor of bulls, reversing the losses of April 30. Related Reading: Why This Crypto Bull Run Might Not Live Up To The Past: Analyst Before then, aggressive traders might be unloading at higher prices, aligning with the current bearish formation. Market Forces Will Shape BTC Prices Despite the bearish outlook, most analysts are bullish, expecting a sharp price recovery. One of them took to X, suggesting that buyers will likely take charge if prices recover from spot rates and return to the horizontal range of March to April. The pace and direction at which prices move going forward lean on market factors. So far, spot Bitcoin exchange-traded fund (ETF) issuers are decreasing their holdings. At the same time, the United States Federal Reserve is tracking inflation and other metrics as they tune monetary policy. If inflation drops, the USD will likely strengthen, heaping more pressure on the world’s most valuable crypto. Feature image from Shutterstock, chart from TradingView
The Federal Reserve isn't sticking with the schedule of interest rate cuts it predicted earlier in the year. That makes navigating the market more challenging.
Custodia Bank is challenging a lower court’s ruling in its battle for a Federal Reserve master account.
Crypto Jelle, a cryptocurrency analyst and aficionado, has expressed optimism toward the price action of Bitcoin, highlighting the potential for the digital asset to revisit the $69,000 threshold in the short term. Bitcoin Poised For Short-Term Gains Due to waning interest in the cryptocurrency market, the price of Bitcoin fell by 5.60% to $66,650. However, the latest price decline does not seem to have dampened traders’ and analysts’ expectations for a sustained bull run, and one of those is analyst Crypto Jelle. Related Reading: Bitcoin Crash Warning: CryptoQuant CEO Sees LUNA-Like Risks Ahead Crypto Jelle advocates for the largest crypto asset noting that although Bitcoin did not break $69,000 in one go, it appears that it is making a new higher low at this point. He believes that the coin could reach the aforementioned price again soon, urging investors to hold around the $66,500 price level. Thus, he advises the crypto community and traders to be patient, since the much-anticipated Bitcoin halving is approaching quickly. Jelle underscored that new all-time highs for Bitcoin do not happen in one go. According to the analyst, every ATH breakout over the past years was preceded by a chopping period. As a result, a large number of people tend to lose hope in the crypto asset, prompting them not to invest in BTC. Given the recent performance of BTC, Jelle claims, we are witnessing the same thing occur once more. Drawing attention to a bullish pennant formation, Jelle stated that Bitcoin currently appears to be getting ready to break out of this area. This is due to a strong bounce from the 4-hour Exponential Moving Average (EMA) 200, and now reaching an even higher low. Based on the development, the crypto expert anticipates the breakout to take place in the upcoming weeks. Within the next 15 days, the Bitcoin halving event has been slated to commence. Given its past impact on BTC’s price, Crypto Jelle’s prediction could come to pass more quickly than anticipated. Two Events Aside from Halving Considered To Boost BTC’s Price This Year While the community is hoping for the halving event to improve prices, Lark Davis, a crypto expert has pointed out two other events that could impact the asset significantly, affirming a bullish year for BTC. These include the United States elections scheduled to happen in November, and the Federal Reserve interest rate cuts. According to Davis, these events are equally as important as the halving event as they will propel the bull market even further. Related Reading: Banking Giant Goldman Sachs Ranks Bitcoin As World Best Performing Asset With the stock market performing traditionally well, around 83% during an election, and Bitcoin being part of Wall Street, BTC is expected to rise. Davis then mentioned the three rate decreases that Goldman Sachs said would occur in 2024, starting in June. It is worth noting Goldman Sachs predicts that the terminal interest rates will fall between 3.25% and 3.5%. Davis believes these reductions will increase market liquidity and encourage investors to invest more in cryptocurrency assets. Featured image from iStock, chart from Tradingview.com
BTC, ETH and a few large-cap altcoins are redounding today, but data continues to point to an “overheated” market.
Another group of Republican lawmakers has introduced legislation to block efforts to introduce a digital dollar.
Michael Hsu urged international cooperation and collaboration in a bid to prevent crypto firms from leveraging competition among jurisdictions.
According to the Fed, Farmington State Bank had winded down operations and “no longer functions as a bank” following the initial enforcement action.