Bitcoin, Ethereum, XRP, and Dogecoin saw rapid declines after Federal Reserve Chair Jerome Powell announced an interest rate cut but made Hawkish comments about 2025. Despite the expected rate cut adjustment, Powell’s indication that the Fed would adopt a cautious approach to further rate cuts in 2025 appears to have rattled investors, pushing them away…
Bitcoin (BTC) smashed through the $107,000 mark to hit a new all time high earlier today. The euphoric climb was short-lived, however, as investors braced for a hawkish rate cut from the U.S. Federal Reserve, potentially dampening market enthusiasm for risk-on assets like crypto. The Fed is widely expected to lower its benchmark interest rate…
Federal Reserve Chair Jerome Powell took aim at Bitcoin on Monday, dismissing it as an unsuitable currency while likening it to "virtual gold," which is being seen as an endorsement of Bitcoin. Speaking at the New York Times DealBook Summit, Powell criticized Bitcoin’s volatility and its limited use in everyday transactions. “People aren’t using it…
When Facebook (later Meta) announced its ambitious Libra project in 2019, it was pitched as a groundbreaking effort to revolutionize the global financial system. Spearheaded by David Marcus, a former PayPal executive, the project aimed to create a blockchain-based digital currency that would facilitate real-time, low-cost international transactions. However, the project ultimately failed to launch,…
Federal Reserve Chair Jerome Powell was cautious in a speech late Thursday signalling that a December rate cut is not set in stone It’s barely a ripple in the charts compared to the bullish surge that followed Donald Trump’s election win, but crypto markets took a modest hit late Thursday after a speech from Federal…
The U.S. Federal Reserve made its first interest rate cut in four years, lowering the benchmark federal funds rate by 50 basis points to a new range of 4.75% to 5.00%. On Wednesday, the U.S. Federal Reserve made its first interest rate cut in four years, lowering the benchmark federal funds rate by 50 basis…
Bitcoin dropped back below $58k with uncertainty spreading as the Fed finally gets ready to cut rates. On Monday, Bitcoin (BTC) dropped below the $58,000 threshold, as market jitters hit before the Fed’s September meeting. Source: BNC Bitcoin Liquid Index On the weekend, Bitcoin had moved up to $60,000 coinciding with a rise in U.S.…
On Friday, cryptocurrencies surged, with Bitcoin (BTC) surging through the $60,000 threshold, bolstered by substantial gains across traditional markets. Source: BNC Bitcoin Liquid Index This price movement coincided with a rise in U.S. stocks, as the S&P 500 came within less than 1% of its July record high shortly before the market closed. Gold continued…
Bitcoin rallied on Friday, following gold and tech stocks as the Fed finally gets ready to cut rates. On Friday, cryptocurrencies surged, with Bitcoin (BTC) nearing the $60,000 threshold, bolstered by substantial gains across traditional markets. Source: BNC Bitcoin Liquid Index This price movement coincided with a rise in U.S. stocks, as the S&P 500…
Bitcoin dropped 2% to $65,122, following the Fed’s latest monetary policy meeting, rate cuts are still expected eventually, but uncertainty is growing. Bitcoin dropped 2% to $65,122, ahead of the monthly close following the Fed’s latest monetary policy meeting. The U.S. Federal Reserve opted to maintain its benchmark fed funds rate at the range of…