Bitcoin Adds 4.5% as Stocks Reverse Lower on Hawkish Fed Commentary
The world’s largest crypto regained the $69,000 level at one point in the session before slipping a bit.
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The world’s largest crypto regained the $69,000 level at one point in the session before slipping a bit.
Flows into the new spot ETFs have been subdued for a couple of weeks, possibly prompting a renewed interest in macro drivers for price direction.
A federal judge ruled that Custodia Bank, a Wyoming special-purpose depository institution, isn’t entitled to membership in the Federal Reserve or to a Fed master account.
Policymakers forecasted Wednesday they would lower interest rates to 4.6% by year-end, similarly to their December projection.
Disappointing flows into bitcoin ETFs over the past days partly resulted from investors trimming risks ahead of Wednesday’s FOMC meeting, one market observer said.
Since early 2022, the Federal Reserve has taken a hawkish approach to the United States economy. Thus, it has implemented … Continue reading
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Gold, Bitcoin (BTC), and the S&P 500 peaked at new highs on March 8, quickly retracing to levels seen on … Continue reading
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Even if the Federal Reserve were close to recommending a central bank digital currency (CBDC) in the U.S., Chair Jerome Powell told lawmakers that the Fed has zero interest in a system in which it would have a view into user data.
Another group of Republican lawmakers has introduced legislation to block efforts to introduce a digital dollar.
Crypto critics often warn of digital currencies’ potential to destabilize the U.S. dollar, but Federal Reserve Gov. Christopher Waller argued that stablecoins’ dependence on the dollar could actually strengthen the U.S. fiat currency as decentralized finance (DeFi) catches on.