Bitcoin Sells Off 3%; Is Macro Risk Returning to Market?
U.S. economic data on Thursday has sent rates and the dollar higher.
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Interest Rates
U.S. economic data on Thursday has sent rates and the dollar higher.
Since early 2022, the Federal Reserve has taken a hawkish approach to the United States economy. Thus, it has implemented … Continue reading
The post Is the Fed’s anti-inflation policy working? appeared first on Finbold.
So far in 2024, bitcoin’s concerns about the path of the economy or interest rates have taken a back seat to the overwhelming demand from the spot ETFs.
An interest rate cut isn’t likely on the table, but risk assets are doing just fine
The latest update on the labor market came less than two days after the Fed’s Jerome Powell poured cold water on market hopes of a rate cut in March.
Bitcoin investors have mostly been focused on spot ETFs and the upcoming halving, but central bank monetary policy is also likely to play a sizable role in the 2024 price outlook.
The closely watched report
The Fed yesterday signaled that far easier monetary policy is in store for 2024.
The U.S central bank Wednesday left its benchmark fed funds at a range of 5.25%-5.50%.
Anticipating a slowdown in the economy and easier Fed monetary policy, investors have sharply bid down interest rates in the weeks leading up to this morning’s numbers.