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BTC price dropped as the Fed rolled out a 0.25% rate hike, but improving housing market data and Bitcoin options data suggests that bulls are ready for this week’s expiry. Go to Source Powered by WPeMatico
Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed Raises Rate Despite Calamity in the U.S. Banking Sector […] Go … Read more
U.S. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after they failed. U.S. Government Ready to Guarantee More Deposits if Needed U.S. Treasury Secretary … Read more
Bitcoin price finally broke through the $28,000 mark, but BTC futures and options data suggest some traders are uneasy about the strength of the recent bullish momentum. Go to Source Powered by WPeMatico
The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California’s Silicon Valley Bank (SVB) and New York’s Signature Bank. … Read more
The Federal Reserve established a funding program for banks, making $25 billion available to eligible firms in a bid to avoid further banking liquidity issues. Go to Source Powered by WPeMatico
Media mogul Steve Forbes, chairman of Forbes Media, has warned that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy with its interest rate hikes after Fed Chair Jerome Powell said the Fed is prepared to raise interest rates at a faster pace. He also pointed out “the fundamental flaw in central bankers’ … Read more
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC Progress During a hearing … Read more
The Fed’s Vice Chair for Supervision emphasized that they do not want to curb innovation, but ensure that regulations protect households and the financial system. Go to Source Powered by WPeMatico
Significant headwinds continue to batter BTC price, and this week’s options expiry is unlikely to provide any relief. Go to Source Powered by WPeMatico
