Tag Archives: federal reserve

Amid the unfolding banking crisis and interest rate hikes, Bitcoin has been showing strong resilience attempting another breakout above $30,000. On Wednesday, May 3, the US Federal Reserve announced another 25 basis points rate hike taking the US funds rate to more than 5% for the first time since 2007. In hours after the Fed announced the rate hike, Bitcoin (BTC) made a quick surge of more than 2% taking the price above $29,000. This Bitcoin price surge amid the recovery in the broader...

While inflation may be slowing, Americans are groaning under the direct and indirect impact of the Fed increasing the interest rate. The US Federal Reserve (Fed) has continued raising the interest rate and on Wednesday increased the rate by another 0.25 percentage point, causing worry about the potential impact. The apex agency has been trying to stem a stubborn rise in inflation and has been increasing the rate consistently. The recent increase is the 10th in about a year and is the...

The Federal Reserve announced another small increase to its benchmark rate on Wednesday, bringing it between 5% and 5.25%.  Bitcoin’s price remained relatively flat on the announcement, fluctuating between $28,000 and $28,500.  The increase was largely in line with expectations, with the market only pricing in an 11.8% chance that the Federal Open Markets Committee (FOMC) would keep its rate flat, per the CME FedWatch tool.  The central bank has been increasing its interest...

Bitcoin gained traction not too long ago even though the Federal Reserve announced it was hiking rates another 0.25 basis points. Bitcoin Remains Strong This is proof that many people have restored their faith in the world’s number one digital currency by market cap and are shirking both Federal Reserve and banking concerns to the side. The American economy and the banking crisis the country is enduring at the time of writing would likely cause many standard traders and...

Bitcoin has shown the world just how resilient it can be. Not long ago, the Federal Reserve decided to raise interest rates by another 0.25 basis points. Under normal circumstances, the price of bitcoin would fall, and this time around was no exception as the world’s number one digital currency by market cap dropped from $28K to $26K. Bitcoin Is Still Alive and Kicking However, things didn’t stay there long, and just a day or so later, BTC was back at $28,000 per unit,...

The US Commerce Department’s recent shows that economic growth and GDP have slowed even as Bitcoin struggles to regain $30,000. The price of Bitcoin (BTC) has remained relatively stagnant for about a week as the US gross domestic product (GDP) is slowing. Currently trading at $28,870 according to CoinMarketCap data, BTC has been unable to hit $30,000, last seen briefly on the 19th of April, and not seen in the first quarter of the year. This trend follows the GDP’s slowing in the same...

The Federal Reserve hiked rates another 0.25 basis points in late March. The decision came in light of the banking failure occurring within America’s borders, and many analysts found themselves wondering if bitcoin’s meteoric run would somehow be affected. The Federal Reserve Again Hikes Interest Rates This new rate hike brought interest to its tallest peak since 2007. That’s a whopping 16 years! In a statement, the Federal Reserve mentioned that inflation in the country...

Bitcoin is truly an amazing asset. No matter what happens in the economy, no matter how bad things get, the world’s number one digital currency by market cap is still striving to do as well as it can, and its recent price rally – despite the collapse of financial institutions such as Silvergate and Silicon Valley Bank – is proof of this. Bitcoin Continues to Impress Us All To be fair, bitcoin has received a fair bit of support given that these banks and others like them...

The rise in gold prices has been attributed to mounting speculation about the United States Federal Reserve’s future policy following the release of jobs data. The total market capitalization of tokenized gold has surpassed $1 billion. CoinGecko data places it at $1.02 billion, up 2.3% over the past 24 hours, with a trading volume of $35,508,696 over the same period. The largest gainers are PAX Gold and Tether Gold with gains of 2.7% and 1.9% respectively. Both are currently trading over...

The latest jobless claims indicate that the US labor market is tight amid rising interest rates as applications rose by 7,000. According to the Labor Department, US weekly jobless claims have climbed to 198,000, representing an increase of 7,000. Although the new figure is slightly higher than the 195,000 expected, it is still generally low in a tight labor market. The Department of Labor also reported a four-week moving average of weekly claims amounting to 198,250. This figure...