Investors believe it is highly likely that the target rate will remain unchanged at the June 14 Federal Open Market Committee (FOMC) meeting, following the U.S. Federal Reserve’s decision to increase the federal funds rate by 25 basis points on May 3. As the battle against inflation in the U.S. rages on, the Biden administration…
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On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of…
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The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely return” to its 2% inflation target and…
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Bitcoin (BTC) continues to consolidate within familiar ranges close to $29,000 ahead of the release of key US jobs data on Friday. The data, which is expected to show that the pace of hiring and wage growth in the US remains robust, and that the unemployment rate remains close to historic lows, come on the…
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Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated to two organizations. Former Coinbase…
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Bitcoin has recovered back above the $29,000 level, rising above its 21 and 50-Day Moving Averages in doing so, in wake of another rate hike from the US Federal Reserve. The US central bank lifted the federal funds target range by 25 bps on Wednesday to 5.0-5.25%, marking 500 bps worth of rate hikes in…
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BTC options and futures markets show no use of excessive leverage from buyers, a healthy indicator as the $28,000 support gets retested. The Bitcoin price successfully defended the $28,000 support on May 2, but it has yet to prove the strength needed to reclaim the $29,200 level from April 30. $30K becomes crucial for Bitcoin…
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Since 2011, Bitcoin (BTC) has posted an average return of 18.3% in May, according to data presented by bitcoinmonthlyreturn.com. However, two of the worst three Mays in Bitcoin’s history have come in the last two years. In May 2021, Bitcoin shed a stunning 35.38% of its value. In May 2022, Bitcoin dropped a more modest,…
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The investment bank uses OpenAI’s ChatGPT to sniff out trading signals from Federal Reserve policy statements. Investment banking giant JPMorgan has reportedly unveiled an artificial intelligence (AI) tool to analyze Federal Reserve statements and speeches to detect potential trading signals. On April 27, Bloomberg reported the Wall Street investment bank is using a ChatGPT-based language…
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The Bitcoin (BTC) price swung wildly on Wednesday. At one point when the world’s largest cryptocurrency by market capitalization hit session highs early in the day at just above $30,000, BTC was up over 6% on the day. At session lows later in the day in the $27,200s, the BTC price was as much as…
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