The U.S. central bank slashed the interest rate 0.25% on Wednesday, a widely expected move that left crypto markets largely unimpressed. Bitcoin was trading at about $111,700, down 3% over the past 24 hours. The largest cryptocurrency by market capitalization has sagged more than 10% after dropping below $105,000 earlier this month. Ethereum, the second-largest
The FED cut interest rates by 25 basis points, in line with expectations. At 21:30 (UTC+3) FED Chairman Jerome Powell will hold a press conference. Markets were giving a nearly 100% probability that the Federal Open Market Committee (FOMC) would cut interest rates by 25 basis points for the second consecutive time. Bitcoin’s initial reaction
At its October Federal Open Market Committee (FOMC) meeting, the Fed lowered its policy rate by 25 basis points to a range of 3.75-4.00%. This was the Fed’s second consecutive rate cut, and the decision fully aligned with market expectations. The FOMC statement noted that economic growth continues at a moderate pace and the unemployment
The inflows of funds into BTC and gold diverged, just as gold prices entered correction territory. BTC held above $113,000 on cautious trading, surpassing the performance of the precious metal. As expected, BTC shows signs of inflows shifting from gold. The precious metal entered correction territory after dipping under $4,000 per ounce. The inflows into
Dollar-backed stablecoins will emerge as a major issue in the coming year and may create difficulties for countries managing their monetary systems, a top Indian economic official warned on Wednesday. Speaking at a gathering in Mumbai, V. Anantha Nageswaran, who serves as India’s Chief Economic Adviser, pointed to potential problems these digital currencies could create.
Coinbase (COIN) is set to report third-quarter earnings Thursday after market close, and Wall Street is largely expecting a beat on revenue. According to FactSet, analysts estimate the crypto exchange will post earnings per share (EPS) of $1.14 — quadruple the $0.28 from Q3 last year — and revenue of $1.8 billion, up from $1.2
Nick Timiraos, a Wall Street Journal reporter known as the “Fed spokesman,” noted that the October Federal Open Market Committee (FOMC) meeting was different from previous sessions in many ways. The dot plot in September showed a split in opinion among Committee members: the majority of members supported continuing interest rate cuts for risk management
Welcome to the institutional newsletter, Crypto Long & Short. This week: CoinDesk Indices’ Andy Baehr provides a “Vibe Check,” telling the story of two markets — the fast money and the slow money. CoinDesk’s Sam Ewen says that it’s no surprise that internet-native communities want internet-native currencies, and why stablecoins are the logical bridge. .
All eyes around the world, including Bitcoin, gold, and global markets, are once again focused on the FED’s interest rate decision. As market activity increases ahead of the FED’s interest rate decision, investors are searching for answers to the question, “What will the FED interest rate decision be this month?” Despite the limited data release