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After rising to the $23k level and peaking at $24.6k last week, Bitcoin’s price has been testing support as the global cryptocurrency market continued to trade sideways. With the Solana news breaking yesterday, Bitcoin’s price slid to the $22.8k level again, erasing last week’s gains. Understandably, Bitcoin is seeing bearish momentum, as the Solana hack … Read more
Tesla’s foray into Bitcoin may have been one big distraction for the electric vehicle maker, which reported mixed financial results earlier this month. Go to Source Powered by WPeMatico
The Fed and FDIC allege that Voyager “made various representations online” that its funds were FDIC insured. Go to Source Powered by WPeMatico
BTC price surged above a key resistance cluster, but its market structure and technical analysis suggest the move is just another trap. Go to Source Powered by WPeMatico
The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a recession. America’s Q2 GDP Data Points to a Recession One of the principal agencies … Read more
The Fed rate hike and comments from Jerome Powell serve to buoy risk assets, with one analyst arguing that the worst of the bank’s “hawkish” phase has already passed. Go to Source Powered by WPeMatico
The Fed’s attempts to reel inflation in by increasing interest rates are usually associated with a pullback of investment activity across markets. Go to Source Powered by WPeMatico
On Wednesday, the U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) in order to tame inflation and stabilize the American economy. The recent rate hike is the U.S. central bank’s third rate increase after increasing the benchmark rate by 50 bps last March. Fed Hikes Rate by 75 bps for … Read more
No surprises from the Fed as Bitcoin bulls see rewards for late longs with the press conference still to come. Go to Source Powered by WPeMatico
After a bullish run last week, and a relatively-volatile Monday and Tuesday, Bitcoin’s price remains flat on Wednesday as the cryptocurrency manages to hold its current support at the $21k level. Currently trading at $21.3k, Bitcoin’s market cap remains above $406 billion. However, we’re seeing a sharp decline in trading volume for BTC, with a … Read more