While the latest Bureau of Labor Statistics Consumer Price Index (CPI) report indicates U.S. inflation has continued to print perpetual new highs, U.S. president Joe Biden is losing ground on his climate bill. The Biden administration’s recent budget negotiations and tactics toward dealing with inflation have been criticized by West Virginia’s senator Joe Manchin who…
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It’s been a week of polarizing opinion in crypto news. Whether it’s cryptocurrency fund managers predicting $100K bitcoin by the end of the year, Peter Schiff saying things “will only get worse as the recession deepens,” or Bill Gates slamming crypto and NFTs, citing the Greater Fool Theory, there’s been no shortage of spicy debate…
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BTC and altcoins could continue to see selling, but a positive is that traders took shelter in stablecoins instead of completely exiting the crypto market. The total crypto market capitalization fell off a cliff between June 10 and 13 as it broke below $1 trillion for the first time since January 2021. Bitcoin (BTC) fell…
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The U.S. Federal Reserve is expected to raise the federal funds rate during its next meeting on Wednesday and JPMorgan economist Michael Feroli believes that rising inflation will push the Fed to increase the rate by 75 basis points (bps). Last week, CME Group data indicated the market priced in a 95% chance that the…
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Custodia wants to compel the Federal Reserve Board and its Kansas City branch to approve its application for a Fed master account within 30 days. Wyoming based digital asset bank Custodia is suing the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City, claiming an “unlawful delay” in processing an application…
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ETH price is meeting strong resistance at the $2,000 level and these trading metrics explain why. Ether’s (ETH) market structure continues to be bearish despite the failed attempt to break the descending channel resistance at $2,000 on May 31. This three-week-long price formation could mean that an eventual retest of the $1,700 support is underway.…
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A bullish reversal into the new week rapidly gains attention, but sober analysts predict that this is just another relief bounce. Bitcoin (BTC) is bouncing back this week as a sudden surge challenges weekly highs. In what should provide some desperately needed confidence to bulls, BTC/USD is back at weekly highs on May 30, gaining several…
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Allianz Chief Economic Advisor Mohamed El-Erian says the Federal Reserve will have to “decide between two policy mistakes.” One risks triggering a recession and the other could prolong inflation well into 2023. “I think the time has passed for a soft landing,” the economist stressed. Mohamed El-Erian on Inflation, Recession, and the U.S. Economy Economist…
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From a desperate investor’s ill-advised visit to Terra co-founder Do Kwon’s house resulting in an arrest, the announcement of a new Terra network, and blockchain talk at Davos, to predictions of U.S. economic collapse if inflation isn’t reigned in quickly, there’s no shortage of action-packed crypto stories this past week. Without further ado, this is…
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Miller said Bitcoin “functioned without the Fed and without any interference” during times of market turmoil, concluding that “it’s an insurance policy, the way I look at it.” Bill Miller the billionaire founder and Chief Investment Officer of investment firm Miller Value Partners, has said he considers Bitcoin (BTC) an “insurance policy against financial catastrophe.”…
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