Bitcoin dips before Fed rate hike cues amid warning over $9T balance sheet
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....
Related News
The Federal Reserve (Fed) had its January Federal Open Market Committee (FOMC) meeting on Wednesday and the crypto market tumbled afterward. The Fed’s move, although hawkish, wasn’t a complete surprise. As the Fed promises to modulate interest rates in order to achieve its goals of raising employment and getting price stability, investors responded with fear. Bond yields are climbing above pre-pandemic levels, thus affecting the traditional and crypto markets. Investors fear the Fed’s focus on getting inflation under control because the markets’ reaction is not a....
PSV received bitcoin through a sponsorship deal in August and confirmed they self-custody it on their balance sheet.
CEO Michael Saylor struck a defiant tone during a Q2 investor call, pledging to add more Bitcoin to its balance sheet while continuing to advocate for the cryptocurrency.
The Ukraine war is high on the Fed's list of concerns, according to a statement released with the 0.25% rate hike. Bitcoin (BTC) held $40,000 on March 17 after an anticipated key interest rate hike from the Federal Reserve delivered a strong response.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewFed singles out Ukraine war in inflation commentsData from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to local highs of $41,500 after the Fed announced it would raise rates by 25 basis points to 0.5% — the first such move since 2018.The Federal Open Market....
Tesla CEO Elon Musk has warned that a major rate hike by the Federal Reserve risks deflation in the U.S. economy. Musk’s warning followed an analysis by Ark Invest CEO Cathie Wood, who cautioned that “Leading inflation indicators like gold and copper are flagging the risk of deflation.”
Elon Musk, Fed Rate Hikes, and Deflation
Tesla and Spacex CEO Elon Musk tweeted Friday evening that “A major Fed rate hike risks deflation.” His tweet has attracted much attention. At the time of writing, it has been liked 80K times and retweeted almost 7K....