Bitcoin holds onto 10% gains ahead of crucial Fed rate hike comments
Bulls lift the market higher on the back of a stocks resurgence, but the specter of the Fed is on the horizon. Bitcoin (BTC) held onto fresh upside on Tuesday after a resurgent stock market took the largest cryptocurrency above $37,500.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView.Fed may spark fresh volatilityData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $36,000 on Tuesday, with maximum 24-hour gains totaling 14% versus Monday’s floor. Bitcoin’s correlation to equities remained in focus ahead of a fresh Wall Street open and key information....
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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.....
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....
Reducing the balance sheet may spark bigger Bitcoin losses than a rate hike, one analyst warns. Bitcoin (BTC) fell into the Wall Street open on Feb. 16 as markets held their breath over upcoming comments from the United States Federal Reserve. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader: Chop then breakout "makes sense" for BitcoinData from Cointelegraph Markets Pro and TradingView tracked a swift decline for BTC/USD around the start of trading, with lows of $43,312 appearing on Bitstamp.The pair had managed to hit $44,500 overnight, these gains dissipating as traders....
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....
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 […]