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Today in Crypto: Standard Chartered Says BTC Could Hit $100K by 2025, Bank of Korea Allowed to Investigate Crypto Business Operators, US Judge Orders Hydrogen to Pay $2.8M in Penalties

April 24, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Standard Chartered Says BTC Could Hit $100K by 2025, Bank of Korea Allowed to Investigate Crypto Business Operators, US Judge Orders Hydrogen to Pay $2.8M in Penalties Read…
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US Treasury seeks to tighten nonbank rules following banking crisis

April 24, 2023

Janet Yellen called for further regulation of nonbank institutions claiming they pose a systemic risk to U.S. financial stability. The United States Treasury and a number of top U.S. financial regulators suggested new rules to make it easier for the Federal Reserve to designate nonbank institutions as systemically important, making it easier to supervise and…
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Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’

April 21, 2023

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity in the past, the Fed has already been easing, and they’re still vigilant against that,” he cautioned. Strategist…
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Gold Slides on Higher US Treasury Yields, Dollar

April 19, 2023

Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors Bet on Another Rate Hike in May…
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Billionaire Novogratz: Long Gold, Euro, Bitcoin as ‘Clearest Trades’ Amid Potential Credit Crunch

April 14, 2023

Bitcoin and Ethereum, along with gold and the euro, will outperform other investments as the US Federal Reserve (Fed) starts easing its interest-rate increases, argued Michael Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings. According to Novogratz, a string of recent regional bank failures may lead to a potential credit…
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Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

April 10, 2023

After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally, the majority of the market is pricing in another 0.25% increase for the May…
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Fed liquidity injections drive down US Treasury yields, but not Bitcoin price

April 4, 2023

Regulatory uncertainty and the recent enforcement actions taken against major crypto exchanges reduces the odds of Bitcoin breaking above $30,000 in the short-term, but investors are still bullish. Bitcoin (BTC) might have shown strength after successfully defending the $28,000 support amid unfounded rumors regarding Binance, but an interesting development to note is BTC is becoming…
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A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking

March 27, 2023

Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of Wyoming, a financial institution that holds $1.08 for every dollar deposited by customers. Although there…
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Bitcoin corrects on Fed rate hike, but bulls are prepared for Friday’s $1.2B options expiry

March 23, 2023

BTC price dropped as the Fed rolled out a 0.25% rate hike, but improving housing market data and Bitcoin options data suggests that bulls are ready for this week’s expiry. Bitcoin’s (BTC) 17.5% rally between March 16 and March 22 surprised options traders betting on price levels below $26,000. The movement resulted from investors seeking…
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Long Liquidations Spike Bitcoin Suffers “Sell the Fact” Reaction to Dovish Fed, But BTC Dip-Buyers Will Probably Pounce

March 23, 2023

Despite the fact that most market participants interpreted the latest Fed policy announcement as more dovish than expected, hence the drop in the US dollar and US yields, Bitcoin markets saw a “sell the fact” reaction, with the BTC price pulling back sharply and long liquidations spiking. BTC/USD was last changing hands in the mid-$27,000s,…
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