Some have taken the release of the US Federal Reserve’s meeting minutes from July as more confirmation of a rate decrease in September. However in the hours after the release, Bitcoin futures traders added over a billion dollars to Bitcoin Open Interest (OI). With a gain of $1.26 billion in
After a long period, US Federal Reserve (Fed) policymakers are considering a rate decrease in September, shifting gears from maintaining rates constant to cutting rates. Neel Kashkari, president of the Minneapolis Federal Reserve, has confirmed that September is a suitable time to discuss potential Fed rate decreases. Bitcoin investors are
As inflation in the US consumer price index (CPI) fell to 2.9%, according to the US Bureau of Labor Statistics, the price of bitcoin gained speed and began to rise. However, the brief rally was short lived as the price came down to $59k mark at the time of writing.
It has been reported that an emergency meeting has been summoned for today by the United States Federal Reserve. With worldwide markets in a deep slump, this gathering is to reevaluate interest rates. Moreover, after the meeting, experts anticipate a 50 bps rate decrease from the Fed. In addition to
A 25-basis-point reduction in interest rates from 5.25% to 5.0% has been announced by the Bank of England, marking a watershed event. The decision follows expectations, and the British central bank reportedly pulled off this U-turn with a razor-thin majority. With this move, the wheels are in motion for more
The United States announced the Fed rate has kept steady at 5.25%–5.50% on Wednesday. Federal Reserve Chair, Jerome Powell, signals a rate cut during the September meeting. This could happen if economic data continues at the proper pace. The Powell-led panel ended its fifth policy-setting meeting for 2024 on July
The Bitcoin (BTC) market displayed selling pressure soon after the US Federal Reserve’s meeting on Wednesday, July 31. The cryptocurrency’s value fell by 6% and landed in the $63,000 zone. This drop marks the first time Bitcoin has slipped below $65,000 since July 25, according to CoinMarketCap data. Federal Reserve
On July 26, 2024, the Federal Reserve Board stated that Silvergate Bank and the Silvergate Capital Corporation would not be subject to any further enforcement actions. The notice states that the board’s enforcement action was halted since Silvergate was able to wind down its activities, reimburse clients, and cease to
The Federal Reserve will likely not wait for the inflation to fall below 2% before decreasing interest rates, according to Federal Reserve Chair Jerome Powell. Although it is still higher than the Federal Reserve’s 2% objective, recent data from the US Labor Department reveals that inflation is dropping to 3%.
Since US stocks have turned around, Bloomberg analyst Mike McGlone predicts that the Fed will soon reduce interest rates. At a critical juncture in the economic landscape after the pandemic, this prediction arrives as the Federal Reserve has been sending mixed signals on a possible change in monetary policy. It
