Economist and gold advocate Peter Schiff has sounded the alarm on the Federal Reserve’s latest actions, linking a significant rate cut to rising gold prices and a weakening U.S. dollar. His warning about a deepening recession and rising inflation adds weight to concerns about future economic stability. “It’s game over for the Fed,” Schiff stressed….
The Federal Reserve announced on Wednesday that it will lower its benchmark interest rate by 50 basis points, marking the central bank’s first cut since the start of the COVID-19 pandemic. Immediately after the announcement, Bitcoin’s price rocketed back above $60,000, while the S&P500 shot up by 0.7%. SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato…
The day that the economy has long awaited has finally arrived as the US Federal Reserve has opted to cut interest rates by 50 basis points in a monumental development. The move is a massive moment for the US economy, as it sees the Central Bank cut rates for the first time in four years….
On Wednesday, the U.S. Federal Reserve lowered its benchmark interest rate for the first time since March 2020. The Sept. 18, 2024 rate cut amounted to 50 basis points (bps), a notably bigger adjustment than many analysts anticipated. According to the Federal Open Market Committee (FOMC) press release, the central bank remains focused on reaching…
Bitcoin has been trading sideways since March, and the third quarter, especially September, has traditionally been a bearish period. With the month and quarter approaching the end, analysts are turning bullish again, predicting a long-awaited breakout for BTC and crypto markets. On Sept. 18, analyst ‘RamenPanda’ observed that markets have spent six months going sideways,…
While bitcoin (BTC) faces local resistance levels, the crypto asset is experiencing a rally driven by aggressive spot market activity. According to a Bitfinex Alpha report, on-chain metrics suggest bitcoin’s momentum is currently bullish. This outlook is also reinforced by rising inflows into the United States spot Bitcoin exchange-traded funds (ETFs), signaling growing confidence among…
Bitcoin saw its value leap to $61,331 on Tuesday, just a day before members of the U.S. Federal Reserve convene to discuss a potential rate cut for federal funds. While BTC posted a 5% gain, stock markets exhibited mixed signals, hovering near previous highs, and gold dipped more than half a percent that day. Bitcoin…
Typically, a greater flow of new dollars to target lower interest rates inflates the prices of equities and fixed-income bonds. Since the advent of cryptocurrencies, financial markets have found that this new asset class is especially responsive to interest rates and bears an inverse correlation to them. Correlation Spotted: Bitcoin and Interest Rates A recent…
Bitcoin dumped hard on Monday but the bulls are back in control now as they propelled a massive rally that resulted in BTC tapping a 3-week peak above $61,000. This comes at a particularly intriguing time as the US Federal Reserve is expected to cut the key interest rates tomorrow or the next day for…
Economist and gold advocate Peter Schiff has issued a strong warning that the Federal Reserve is on the verge of repeating its past policy errors. He explained that the Fed’s anticipated actions, particularly interest rate cuts, “will be followed by a return to QE, another repeat mistake that will engender more debt and send consumer…
Massachusetts Senator Elizabeth Warren is calling for a steep 0.75% interest rate cut by the Fed this week, according to a letter signed by the Senator. Three Democratic senators urged Federal Reserve Chair Jerome Powell and fellow policymakers to make aggressive rate cuts to protect the US Economy. JUST IN: 🇺🇸 US Senator Elizabeth Warren…
Bitcoin-skeptic Elizabeth Warren (D-Massachusetts) and other Democratic senators sent a letter to the Federal Reserve on Monday calling for far more aggressive rate cuts than the market expects. “We write today to urge the Federal Reserve (Fed) to cut the federal funds rate, currently at a two-decade-high of 5.3 percent, by 75 basis points (bps)…
The number of Bitcoin addresses depositing into exchanges has dropped to 132,100. According to insights published on CryptoQuant by analyst CryptoOnchain, this is a figure last seen in 2016. Decreased Selling Pressure This metric, which tracks the number of addresses sending inflow transactions to exchanges, suggests a decrease in selling pressure as fewer investors are…
$9 trillion asset management company BlackRock says the Federal Reserve’s interest rate cuts will not be as deep as the market expects. BlackRock Investment Institute wrote in a note Monday that a resilient economy and inflation remaining sticky may hamper the Fed from making a steep interest rate cut. JUST IN: BlackRock says the Federal…
As the U.S. central bank members prepare for their meeting on Wednesday, just a day ago, the likelihood of a 25-basis point (bps) rate cut versus a 50bps cut was evenly split at 50-50. Fast forward to today, and the odds are now tipping in favor of a larger 50bps reduction. Predictions from betting market…
The US central bank is widely expected to start cutting interest rates this week. However, uncertainty remains over whether it will opt for a small or a big reduction. Interest rate decisions are also due in the United Kingdom, Brazil, Norway, Turkey, and South Africa. The Japanese and Chinese central banks also take center stage…
Former Commerce Secretary Wilbur Ross has warned of an impending U.S. recession due to the lingering effects of pandemic-related stimulus. While Wall Street maintains a more optimistic outlook, citing strong GDP and low unemployment, Ross argues that the economy was artificially inflated by the $5 trillion in stimulus. He points to inflation, high consumer prices,…
Over the past month or so, Bitcoin has fallen while the Nasdaq and S&P 500 have gained. Will the bulls be back after the spigots turn up the overnight cash markets? Bitcoin is down by 6% over the 30 days ending Friday, Sept. 13, while the Nasdaq Composite is up 3.7% for the month’s trades…
The market is holding out hope for a bigger rate cut as the Federal Open Market Committee (FOMC) prepares to meet on Wednesday. Predictions from Polymarket and CME’s Fedwatch tool suggest there’s a growing expectation that a 50 basis points reduction could be in play. FOMC Meeting Could See Bigger Rate Cut as Expectations Shift…
September 14, 2024 at 01:15 PM GST 2 mins read News Gold prices have reached a new record high, trading above $2,586 per ounce. Peter Schiff warns that rising gold prices signal higher inflation and potential recession. Bitcoin advocates view the cryptocurrency as a hedge against inflation and economic instability. Peter Schiff has issued a…
The odds are reportedly up 45% that the Fed will cut interest rates by 50 basis points next week. A 25 basis point Fed rate cut was the initial prediction due to last week’s job report and recent inflation data. However, a recent post from the Wall Street Journal predicts that the rate cut could…
This important inflationary gauge comes amid increasing speculations in anticipation of a rate cut. Aside from food and energy, the released data shows the US core PPI increased by 0.3%. The data from the United States Bureau of Labor Statistics, released on Thursday, show that the US PPI inflation increased 0.2% in August. This aligns…
With just six days to go before the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) meeting, the likelihood of a 25 basis points (bps) rate cut is growing stronger by the day. The possibility of a 50bps cut remains slim, though it still holds a 13% chance, as reported by CME’s Fedwatch tool. Market…
Ripple Labs’ Chief Legal Officer, Stuart Alderoty, has slammed U.S. regulators for unfairly targeting the cryptocurrency industry in money laundering investigations while allowing traditional banks to slip under the radar. In a recent X post, Alderoty pointed to the New York Federal Reserve’s reported role in enabling large-scale illicit transfers, including those tied to terrorist…
Aligned with most expectations, the US Consumer Price Index showed a 2.5% year-over-year increase in August, which is 0.4% lower than the number for July. According to experts, this almost settles the debate on whether the Federal Reserve will cut the base interest rates by 25 basis points or 50. The CPI increase of 2.5%…
Este artÃculo también está disponible en español. The higher-than-anticipated US core Consumer Price Index (CPI) reading was followed by a decline in Bitcoin (BTC) price as it tumbled almost 1.5% to $56,168 at press time. US Headline CPI Matches Forecast, Core CPI Exceeds It US headline CPI, the metric typically used to assess the inflation…
The latest consumer price index (CPI) from the U.S. Bureau of Labor Statistics shows that inflation cooled to 2.5% in August, marking the slowest rate since 2021. Meanwhile, core CPI, which strips out the fluctuating food and energy sectors, posted a 0.3% increase for the month. Stocks, Bitcoin, and Gold Unmoved by CPI Data On…
The North Carolina General Assembly has overridden Governor Roy Cooper’s veto to enact a bill prohibiting a central bank digital currency (CBDC) in the state. The Senate voted 27-17, securing the required supermajority. The bill bars payments using CBDC and state participation in Federal Reserve testing. This bill reflects strong opposition to CBDCs and emphasizes…
North Carolina Senate overrides Governor’s veto to pass Fed CBDC ban bill. This state is moving toward a CBDC ban, akin to Florida’s legislation. The North Carolina General Assembly has passed a bill prohibiting the implementation of a Federal Reserve-issued central bank digital currency (CBDC) within the state, following a Senate override of Governor Roy…
Este artÃculo también está disponible en español. A 50 basis points (bps) interest rate cut by the US Federal Reserve (Fed) starting this month might adversely affect Bitcoin (BTC) price, 10x Research cautions. 50 BPS Rate Cut Could Spook The Market After it had started hiking interest rates back in March 2022 to contain rampant…
Crypto equities have also seen a significant recovery, similar to the price of Bitcoin. This week’s forthcoming macroeconomic developments will have a significant impact. Following a disappointing August employment report that hinted at the US economy’s continued vulnerability to a recession, Bitcoin’s (BTC) value fell below $54,000 over the weekend. However, it has since recovered…
Last week was a brutal one for crypto markets, with losses extending into the weekend. A raft of employment data out of the US didn’t prevent stock markets from falling either, as ‘Slumptember’ lives up to its name. This week will be heavy on inflation data with additional reports on jobless claims. “This is the final…
TL;DR A potential interest rate cut by the U.S. Federal Reserve could boost the crypto market, possibly pushing BTC toward a new all-time high. Some experts argue that the positive impact of the effort might be temporary, suggesting that raising the benchmark could be more beneficial for the economy. The Potential Pivot The US Federal…
A report by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute found that cryptocurrency ownership declined during market downturns, despite price increases in bitcoin. Data from multiple surveys showed that crypto interest and ownership did not rise, even as prices surged. The report suggests further research into consumer behavior in response to market fluctuations…
Equities kicked off Friday on a quiet note, with little movement as the latest U.S. labor market report unveiled a softer-than-anticipated addition of 142,000 jobs for August. The data only adds to growing recession concerns, layering on top of several earlier signs hinting at an economic slowdown. Meanwhile, the 10-2 year Treasury yield spread has…
TL;DR Bitcoin’s recent downtrend could soon give way to a renewed rally due to emerging positive signals. On the other hand, some indicators suggest the market correction might not be over yet. Heading North Again? Bitcoin experienced enhanced volatility in the past several weeks, with its price swinging in the $55,000-$65,000 range. In the last few…
Leading financial markets worldwide are currently bracing for one of the year’s most anticipated events. The Federal Reserve has announced its decision to cut rates this September, an event that usually comes with heavy global repercussions. While the market braces for heavy dollar devaluation, certain ASEAN currencies may amp up, making the most out of…
The US Federal Reserve has placed a cease and desist order on United Texas Bank. The regulator believes the bank needs stronger AML and risk management measures. On Wednesday, the US Federal Reserve issued a cease-and-desist order to Dallas-based United Texas Bank over its crypto services to customers. With the growing scrutiny of key players…
Crypto-friendly United Texas Bank sees regulatory complications from the US Federal Reserve. The US crypto regulatory landscape has shown increased activity in 2024. Crypto firms’ services banks, in other words, crypto-friendly banks are a declining group of financial organizations within the sector. However, they have not been spared from regulatory impediments in the past. Recently,…
September 5, 2024 at 09:10 AM GST updated: September 5, 2024 at 08:35 AM 2 mins read News United Texas Bank received a cease-and-desist order from the Federal Reserve over AML compliance issues related to its crypto dealings. The bank has 90 days to submit a five-part action plan to improve adherence to anti-money laundering…
Arthur Hayes, co-founder of crypto exchange Bitmex, has warned of a scenario where bitcoin could “slowly leak lower towards $50,000” and “altcoins could dive deeper into the gutter.” Focusing on the impact of dollar liquidity and Federal Reserve policies, Hayes remains cautiously optimistic about the long-term outlook, expecting future monetary easing to benefit crypto. Arthur…
United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money laundering (AML) program and corporate governance oversight. Cease and Desist Order for United Texas Bank…
Fed Chair Jerome Powell hinted strong signals towards a rate decrease earlier. To illustrate his argument, Hayes used reverse repurchase agreements (RRPs). According to BitMEX co-founder and former CEO Arthur Hayes, Bitcoin prices may not react positively to interest rate reduction from the Federal Reserve. According to a post by the Maelstrom chief investment officer…
Market News Traditionally, U.S equities have performed poorly in September as per the report. September brings more seasonal challenges, elevated political and geopolitical uncertainty. Traders and investors across the world are quite worried about JPMorgan’s recent comments on Fed rate decreases. Even if speculation about future interest rate reduction is at an all-time high. The…
On Sept. 2, 2024, or roughly 16 days before the next Federal Open Market Committee (FOMC) meeting, an overwhelming majority of the market seems to be predicting the U.S. Federal Reserve to cut the federal funds rate by 25 basis points (bps) on Sept. 18. The U.S. federal funds rate is currently at 5.25%-5.50%, which…
Meanwhile, crypto assets continue to decline in what has been a divergence from tech stock markets, which continue to see growth. Last week’s economic reports painted a rosy picture of a robust economy, resilient consumer spending, and gradually cooling inflation. This is the fuel for the Federal Reserve to ease its monetary policy, with investors…
Market News The employment numbers would solidify bets on the anticipated Fed rate cuts. Investors will be keeping a careful eye on Sep 6, when the US Job Data is due to be released. Next week’s key events, such as US employment statistics, are keenly anticipated by the crypto market. As the employment numbers would…
Bitmex co-founder Arthur Hayes is optimistic about bitcoin’s future, citing recent interest rate cuts by central banks. He believes further rate cuts by the U.S. Federal Reserve, Bank of England, and European Central Bank could expand the money supply and drive inflation. Hayes argues that while inflation may negatively impact some businesses, it would benefit…
On Friday, August 30, the US Bureau of Economic Analysis will unveil the US PCE figures. If the PCE inflation number is greater, the crypto market will face more selling pressure. Economists in the United States are predicting a rather strong reading for personal consumption expenditures (PCE) price index, the favored inflation indicator of the…
A recent report from Cryptoquant reveals that comments by Federal Reserve Chairman Jerome Powell sparked a surge in U.S. bitcoin demand last week, though overall global demand remains weak. The report highlights the mixed signals in the market following the Fed’s announcement. Analysis Says Weak Global Bitcoin Demand Persists Cryptoquant‘s report details how bitcoin’s price…