November 8, 2024 at 01:15 PM GST updated: November 8, 2024 at 01:08 PM 2 mins read News The Federal Reserve lowered rates by 25 bps to 4.5%-4.75%, easing policy amid slower inflation. Fed Chair Powell confirms U.S. election results won’t impact the Fed’s near-term policy decisions. Bitcoin hits new highs, stocks rise as Fed’s…
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’s price has decreased sharply from nearly $65,000 to under $58,000 recently. Despite the decline, BTC briefly recovered above $59,700, a 0.85% increase. As the cryptocurrency market navigates a turbulent period, Bitcoin (BTC) has showcased a significant drop, moving from nearly $65,000 to below $58,000 in recent days. This downward shift has been influenced by…
As the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) gears up for its meeting on Sept. 18, anticipation is building for a rate cut. Market participants are placing their bets, with expectations leaning toward either a 25 basis points (bps) reduction or a 50bps cut. However, Massachusetts Senator Elizabeth Warren is urging the Fed…
Coinshares, led by researcher James Butterfill, reports a significant uptick in bitcoin inflows following recent comments from Federal Reserve Chair Jerome Powell. The investment surge reflects the market’s response to potential interest rate cuts hinted at during the Jackson Hole Symposium. Powell’s Comments Correlate With $543 Million Bitcoin Inflow, Coinshares Observes According to Coinshares, digital…
Bitcoin and the broader crypto market staged a strong recovery breaking out from potential resistance. This was soon after Fed Chairman Jerome Powell’s clear indication the about upcoming interest rate cuts after the Jackson Hole meeting on Friday. The Bitcoin price is up 5% shooting all the way past $64,000 levels. However, with the broader…
Bitcoin (BTC), the world’s largest cryptocurrency, is currently on a bullish momentum as it breached the psychologically important level above $61,000. With changing global macroeconomic trends, here are three reasons why BTC prices may climb toward $70,000 soon. The Fed Rate Cut on Bitcoin The Federal Reserve’s decision to cut interest rates remains a major…
Bitcoin reached an impressive peak of $64,853 per unit on Friday, spurred by U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted at the possibility of rate cuts in September. The cryptocurrency showed a 5.3% increase in the past day, contributing to a 5.01% rise in the overall crypto market, which…
Federal Reserve Chair Jerome Powell expressed confidence in the central bank’s progress in reducing inflation, suggesting that rate cuts may be on the horizon. Speaking at the Jackson Hole economic symposium, Powell emphasized the Fed’s commitment to achieving its 2% inflation target while maintaining a strong labor market. Rate Cuts Possible as Powell Expresses Confidence…
QCP Capital’s latest insights report offers a fascinating blend of optimism and caution as investors eagerly anticipate Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium. The firm observes a buoyant mood in equity markets, with U.S. stocks reaching record highs, while the crypto sector remains firmly in the doldrums. QCP Capital Report…