JPMorgan Chase CEO Jamie Dimon has downplayed the significance of Federal Reserve rate cuts, emphasizing that broader economic forces are at play. He cautioned against focusing too much on the type of economic landing. “Honestly, most of us have been through all that stuff, it doesn’t matter as much,” said the JPMorgan executive. Jamie Dimon:…
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Speaking at an annual conference of central bankers at Jackson Hole, the Chairman of the US Federal Reserve Jerome Powell left the door open to the possibility of further interest rate hikes in the US, triggering some short-lived sell pressure in the crypto market. Bitcoin (BTC) fell to new daily lows in the $25,800s from…
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Two key Bitcoin price metrics suggest that bulls will be able to hold the $30,000 level as support. Bitcoin (BTC) has been trading above $31,000 after its 24.3% rally between June 15 and June 23, which caught many off guard. For bears, that meant facing $165 million in short futures contract liquidations, but the unexpected…
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Bitcoin extended recent gains on Thursday, climbing above the $30,000 level for the first time since April, and ahead of Fed Chair Powell’s testimony today. The move also came following a death cross of moving averages, which prompted bulls to intensify buying pressure. Ethereum moved to a multi-month high. Bitcoin Bitcoin moved above the $30,000…
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BTC price action shrugs off the latest signs that inflation is receding, with Bitcoin traders focused on Fed comments. Bitcoin (BTC) stuck to $26,000 on June 14 as fresh United States macroeconomic data prints failed to move cryptocurrency markets. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView PPI offers Bitcoin bulls little fuel Data from…
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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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Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others…
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Following Jerome Powell’s hawkish commentary at the annual Jackson Hole Economic Symposium, major stock indexes, cryptocurrencies, and precious metals slid significantly in value. Over $240 billion was erased from the crypto market and the Crypto Fear and Greed Index continues to slide lower, edging toward “extreme fear.” Furthermore, the chief strategist at bubbatrading.com, Todd ‘Bubba’…
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