Bitcoin’s rally faces key hurdle with Wednesday’s Fed meeting
Hot PPI inflation data in the morning and hawkish remarks by Powell in the afternoon would be the most damaging combination for risk assets, including crypto, Bitfinex analysts said.
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Hot PPI inflation data in the morning and hawkish remarks by Powell in the afternoon would be the most damaging combination for risk assets, including crypto, Bitfinex analysts said.
A $1.18 billion preferred stock raise, roughly equivalent to 16,800 BTC, signals a shift away from common stock as dividend obligations top $1 billion.
Bitcoin briefly surged to a six-week high above $75,000 before quickly retreating, underscoring the fragility of the latest rally.
Bitcoin’s move, led by unwinding of shorts, has lifted the broader crypto market, with the CoinDesk 20 Index up 5%.
The alleged theft of 2,323 bitcoin has triggered a High Court dispute testing how English property law applies to digital assets.
Bitcoin’s convincing move above its key average indicates a strengthening of the bullish momentum.
Bitcoin is outperforming equities and gold since the Middle East conflict began, as institutional inflows return while broader market sentiment remains cautious.
Hougan says bitcoin could reach that milestone if it captures a larger share of the global store-of-value market, though analysts say it would likely take years of institutional adoption and macro shifts.
The cryptocurrency community pushed back, with Michael Saylor saying Bitcoin has no issuer, promoter, or guaranteed return, and is instead driven by code and market demand.
Surging to a near one-month high of $74,000, bitcoin reversed back to just above $71,000 as news of U.S. military movements in the Middle East rattled risk assets.