Bitcoin casts off dip, climbs past $45K as Fed signals rate hike coming in March
Bitcoin price action passes $45,000 once more as markets keep traders on their toes. Bitcoin (BTC) hit daily lows, then bounced strongly on March 2 as fresh comments by the United States Federal Reserve added to macro volatility.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewPowell: March rate hike expected "appropriate"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $43,350 on Bitstamp before the Wall Street open on March 3.A recovery ensued as trading began, however, with the pair already back above $45,000 at the time of writing.The volatility....
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Today’s Federal Reserve (Fed) FOMC meeting could decide the fate of crypto and Bitcoin for the coming weeks and months. As NewsBTC has reported in recent weeks, financial markets around the world are hanging on every word from the Federal Reserve to predict future policies. Currently, there is little doubt that the FED will raise the interest rate by 75 basis points (bps) today, which would be the fourth consecutive hike. However, for the next meetings in December and January, the futures market is divided. To that extent, the main focus of today’s session will be on the....
While precious metals, stocks, and cryptocurrencies saw a significant downturn this week, the U.S. dollar tapped a 20-year high against the Japanese yen and a number of other currencies. The greenback has seen five weeks of consecutive gains following the Federal Reserve’s 50 basis point rate hike on Wednesday.
Greenback Climbs Higher Amid Economic Uncertainty
Before the U.S. central bank’s rate hike, the U.S. dollar tapped a two-year high and a 20-year high against the Japanese yen last week. Economic concerns are tied to the ongoing and strict Covid-19 lockdowns....
The much-anticipated Fed rate hike is now out and, as expected, dealt a heavy blow to the broader crypto market on Wednesday. The U.S. Federal Reserve increased its policy interest rate by three-quarters of a percentage point, extending it to a range of 3 to 3.25 percent. This number represents a huge increase from March, when […]
Bitcoin consolidates below $39,000 as one trader warns about a possible squeeze on the daily chart, while a nine-year support level continues to hold strong. The blockchain community got a bit of good news on March 14 after regulators in the European Parliament's Committee on Economic and Monetary Affairs rejected a ban on proof-of-work (PoW) based cryptocurrencies like Bitcoin (BTC) that would have had significant ramifications for the crypto industry. Data from Cointelegraph Markets Pro and TradingView shows that despite the positive development, Bitcoin continues to trade sideways near....
The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate (FFR) by 75 basis points (bps). The American central bank said on Wednesday that the hike aims to curb inflation and the Fed says “recent indicators point to modest growth in spending and production.” U.S. Central Bank Hikes the Federal Funds Rate by 75bps While U.S. president Joe Biden hosted an event called the “Infrastructure Talent Pipeline Challenge,” the country’s central bank increased the FFR once again by 75bps on Wednesday.....