Bitcoin Tumbles to $26.9K on Hawkish Remarks by Federal Reserve’s Powell
The pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank’s next policy meeting in November.
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The pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank’s next policy meeting in November.
Why all the excitement about spot bitcoin ETFs? Well, a gold ETF was a huge deal for markets, and people wonder if $BTC might be next.
The Fed on Wednesday is widely expected to hold rates steady, but investors will monitor new economic projections and Chairman Powell’s press conference for clues about the direction of future policy.
As legal challenges against Binance mount, the average spot BTC trading volume on the platform has decreased 57% since Sep. 1
Hopes for a spot bitcoin ETF and the latest regulatory actions could prove a further catalyst.
BTC price fell to $26,700 from $27,200 during Monday.
The world’s largest crypto has bounced from a 3-month low below $25,000 hit on Monday.
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 15, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Paxos paid $520,000 for a $2,000 bitcoin transaction earlier this week.
Bitcoin’s bounce amid fears of FTX creditor liquidation might shake out altcoin bears, leading to a sharp rally in recently shorted tokens like solana.