Despite sharp downside in the US stock market on Tuesday amid a fresh push higher in long-dated US yields to new multi-decade highs as traders pricing in a policy of higher interest rates for longer from the US Federal Reserve, Bitcoin (BTC) continues to hold up relatively well. It was last trading in the $26,200s,…
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Concerns over the U.S. dollar’s impact on Bitcoin may be overstated by investors, particularly in the longer term. The Dollar Strength Index (DXY) achieved its highest level in nearly 10 months on Sep. 22, indicating growing confidence in the U.S. dollar compared to other fiat currencies like the British pound, euro, Japanese yen, and Swiss…
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Bitcoin (BTC) is set to end the third quarter of 2023 with losses of around 15%, its worst quarterly performance since the final quarter of 2022, when the cryptocurrency also lost 15%, as per currencyrush.com. The world’s largest cryptocurrency by market capitalization, which had a market of around $513 billion as of the 25th of…
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In an environment of soaring interest rates and economic unpredictability, Bitcoin and the broader crypto market face increased headwinds. The shift in the financial landscape was recently underscored by the Benchmark 10-year US Treasury yield, which hit a 16-year high this Thursday. Longest Yield Curve Inversion Ever Historically, an inverted yield curve, where short-term yields…
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Blue chip cryptocurrency markets are under pressure on Thursday, with Bitcoin (BTC) having dropped more than 2% to the mid-$26,000s and Ether (ETH) down 2.5% under $1,600. Reports that long-defunct cryptocurrency exchange MtGox will delay repayments for another year to 2024 have failed to boost sentiment, likely given that macro has been acting as a…
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As expected, the Federal Reserve (Fed) left benchmark interest rates in the US unchanged at 5.25-5.5% on Wednesday. Bitcoin (BTC) fell just over 1% and was last trading just under $27,000, though still remains fairly close to monthly highs. Despite the pause, Fed Chairman Jerome Powell said in his post-policy announcement remarks that another interest…
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As the market braces itself for the Federal Reserve’s imminent announcement regarding its monetary policy, speculations are rife about the potential impact on Bitcoin and crypto. Based on Grayscale’s recent analysis by Zach Pandl, today’s announcement could be the critical juncture the Bitcoin and crypto community has been awaiting. In the aftermath of the COVID-19…
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Bitcoin (BTC) futures positions worth over $44 million were wiped out on Monday in choppy trade that saw the spot price of the world’s largest cryptocurrency by market capitalization swing more than $1000 (over 4%) between session lows around $26,400 and new highs for the month around $27,400. BTC was last trading in the $26,700s,…
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The debt ceiling is unlikely to hold as the government faces increased pressure from interest rate payments, a potential catalyst for Bitcoin and cryptocurrencies. The U.S. Federal Reserve made a significant announcement on Sept. 14, revealing accumulated losses of $100 billion in 2023. What’s more, this situation is expected to worsen for the Fed, according…
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The Federal Reserve’s vice chair for supervision has affirmed that the U.S. central bank is “a long way” from making a decision on whether to issue a central bank digital currency (CBDC). The Fed official also voiced concerns regarding USD stablecoins, emphasizing that they “could pose significant risks to financial stability, monetary policy, and the…
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