Bitcoin and the crypto market haven’t been the only assets falling over the past week or two.
This week marked one of the stock markets and commodity market’s worst performances in history, with the S&P 500 and Dow Jones falling by around 12% from their all-time highs established just earlier this month. It was so bad that Thursday marked the Dow Jones’ worst performance in history, when it shed over 1,000 points in a single trading session.
JUST IN: Over $6 trillion has been wiped off global stock-markets in the worst week since the Global Financial Crisis
— The Spectator Index (@spectatorindex) February 28, 2020
The Federal Reserve, the United States’ central bank, has obviously been pushed to react to the potentially flagging economy.
And analysts say that the potential response from the monetary authority will be astronomically bullish for Bitcoin and other crypto-assets moving forward.
Federal Reserve Implies Rate Cuts, Adding to Bitcoin & Crypto’s Bull Case
Over the past few weeks, as the coronavirus-caused disease COVID-19 has spread around the world, analysts (from crypto to fiat) have been fearing the worst for the economy; while a small portion of the world has been infected, dozens of millions have been affected in some way — travel bans, event cancellations, school closures, etc. — leading to data showing consumption is slowing.
The Federal Reserve has obviously been pushed to respond to the growing fears. Chairman Jerome Powell said Friday:
“The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. […] We will use our tools and act as appropriate to support the economy.”
Statement from Federal Reserve Chair Jerome H. Powell: https://t.co/IDTpinSICO pic.twitter.com/nJuYfVbujY
— Federal Reserve (@federalreserve) February 28, 2020
Market participants, from those on Wall Street to those dabbling in crypto assets, immediately took this as a sign that the Federal Reserve is preparing to cut its already-historically-low policy interest rate.
Indeed, the year-end futures for the Fed Funds rate just hit 0.63%, meaning investors expect the central bank to continue to cut rates into the end of 2020 to stimulate the economy.
Crypto investors have taken this likely impending rate cut as proof of BTC’s long-term validity.
Ikigai Asset Management’s Travis Kling accentuated that the Federal Reserve’s latest comment confirms that “radical monetary policy remains.”
This is relevant to Bitcoin because Kling thinks the more “irresponsible” central banks and governments are with money, the more BTC makes sense, for the crypto asset is scarce, hard-capped, non-sovereign, global, immutable, decentralized, and a digital store of value — much unlike the fiat that dominates the world today.
Here's the BRILLIANT trick the market is playing right now-
Central bankers have *zero* choice. Global rate cuts & heavy QE ASAP.
Market implying *96%* odds of 50bps cut in March. That was 0% yesterday.
Corona ends up ok. Big GDP hiccup but ok. Radical monetary policy remains.
— Travis Kling (@Travis_Kling) February 28, 2020
Featured Image from Shutterstock origin »
Following a significant market downturn in the first week of October, the NFT market has begun to showcasing signs of recovery and resilience. Even though [...]
The cryptocurrency market has recovered from its early slump this week and looks set to end the week bullish. Bitcoin is trading above $111k while altcoins are currently in the green. Binance’s BNB token is the second-best performer among the top 10 cryptocurrencies by market cap, and could rally higher thanks to the positive news […]
The crypto market is crashing this week, with Bitcoin plunging below $112,000 and Ethereum falling to $4,160. The market capitalization of all coins has plunged to $3. 9 trillion, down from the year-to-date high of over $4.
This week saw major crypto movements, from geopolitical tensions causing market losses to the GENIUS Act advancing and new token listings on Coinbase.
The post What Happened in Crypto This Week: Market Action and News You Missed appeared first on BeInCrypto.
This week, Bitcoin investors will closely monitor US economic data, including CPI, jobless claims, PPI, and retail sales, as they could influence crypto market trends and Federal Reserve policies.
NFT market momentum was evident this week alongside broader crypto gains, as Bitcoin surpassed $103,000. CoinMarketCap data shows that the overall crypto market cap has grown to $3. 6 trillion from last week’s $3.
The global crypto market cap added $140 billion, spiking 6.3% to close the week above a two-month peak of $2.35 trillion. Bitcoin (BTC) championed the recovery, breaking past $68,000 and sparking a strong rally across the altcoin market. Here are…
The global crypto market staged a recovery last week, posting a 2. 79% increase and closing with a market capitalization of $2. 21 trillion. This surge added $60 billion to the market’s overall valuation.
The crypto market might be gloomy but sentiment remains positive. The launch of the much-anticipated zkSync (ZK) earlier this week is at the heart of the market buzz. Worth noting is the SEC’s approval of ETH ETFs—the excitement still lingers.
It is a green week in the crypto landscape, with tokens trading on the upside—a stark contrast to the previous week. While the market took a downturn amid Bitcoin’s dip, the bulls have been able to force a rally.
This week, the Bitcoin and crypto market is poised for significant movements driven by a series of high-impact events. From regulatory decisions to major industry conferences, these developments are expected to influence investor sentiment and market dynamics.
A curated weekly summary of forward-focused crypto news that matters. This week, the market readies itself for the next Fed interest rate decision, DCG offers a recovery plan for out-of-pocket Genesis creditors, and a large chunk of short-term BTC holders are holding at a loss.
Invezz. com reported how liquidations surpassing $1 Billion deteriorated the crypto market last week. That triggered negative sentiments as Bitcoin plunged toward the $25K region. However, the narrative has changed over the past 24 hours as the market gradually recovers from the massive liquidations.
The largest cryptocurrency’s push past $20K this week has turned the market more bullish. The outlook hinges on the Federal Reserve’s messaging next week – about its plans for December. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today's crypto markets.
The crypto market has extended its losses over the past week, as it continues to gain downside momentum. Main cryptocurrencies in the top 10 by market cap are trading in the red with very few preserving some of their gains from last week.
The general sentiment in the crypto market seems to be turning bearish as Bitcoin and Ethereum record losses over today’s trading session. The two larger cryptocurrencies by market cap still record some gains over higher timeframes but seem poised for a dicey week.
Bitcoin price action is subdued this week with Mt Gox jitters spooking the market. Blockstream has partnered with El Salvador to issue $1B in Volcano Bonds. It’s this week’s crypto market sentiment report.
According to our last weekly update – Bitcoin dropped below 9200$, and Ethereum dropped below 220$. Last week, whole cryptocurrency market saw a major drop Last week’s altcoins picks – BAND, VET and DUSK failed to reach targets.
According to our last weekly update – Bitcoin dropped below 9500$, and Ethereum dropped below 240$. Last week was slow for overall cryptocurrency market. Last week’s altcoins picks – POE, STORM and FUEL failed to reach targets.
Tron is presently lacking any significant relevancy in the market, something reflected by Google Trends which revealed that Tron had declined to a search index score of only 36 over the last week after registering a complete score of 100 in the 2nd week of January, 2019.
Last week’s market struggle came to an end with a change of trend on Sunday. As the new week got underway, the market saw a fresh wave of green. The change in trend began with altcoins. As we reported earlier, this began with top coins, ETH and XRP.
After a Bearish start into the week, the Bulls have taken over and painted the market’s green. For better parts of last week, the Bears dominated the various markets. The trend continued over the weekend as well as the start of the day.
While investors entered this past week expecting for the crypto market to fall further, it has become apparent that the market has temporarily staved off a move lower. Whether this recovery was a result of positive fundamentals or just a “dead cat bounce” remains to be seen.
Crypto Market Updates Show Trading Volume Hits Near 3 Month High, Recovering After Bitcoin ETF Letdown Cryptocurrency investors can rest a bit easier with the conclusion of this week as the market looks set to rebound to reach a market cap of $300 billion after a series of corrections. The two days saw roughly $15 […]
The latest alternate coin to stake claim to 33rd ranking by market cap is Digibyte. The run-up to this position has been spectacular in the past week, as the currency gained in value and closed ahead of the cryptocurrency like Maker, PundiX, Augur and Verge.
As we enter a new week, the cryptocurrency markets are snaking up and down in a motion that could only otherwise be experienced on a rollercoaster. We can only expect this volatile start to the week to continue over the coming hours and days.
EOS/USD Medium-term Trend: Ranging Resistance levels: $ 9. 0, $9. 5, $10. 0 Support levels: $9. 0, $8. 5, $8. 0 Last week, price of EOS was in a sideways trend. The EOS/USD pair was fluctuating between the resistance level at $9.
Huobi has made its plans to enter the US market crystal clear. Its new trading platform, known as HBUS, went live last week. The new marketplace is now accepting registrations from US residents. The “official” launch will occur on July 10.
Huobi, the fourth largest cryptocurrency exchange platform by volume, has begun operations in Australia. The move comes less than a week after the platform launched its London-based office aimed at serving the EU market.
Happy Sunday one and all. We are back with the Crypto Refresh, a concise analysis and reminder of the weeks cryptocurrency news, in the words of Crypto Daily. This week we have seen a very unsteady market.
The total value of the market is stuck around $270 billion as the segment failed to retain bullish momentum despite the spikes higher in the past week. While most of the top coins are trading clearly above the June lows, given the dubious long-term outlook, bulls can’t really enjoy the summer lull. BTC/USD, 4-Hour Chart
In this week’s daily editions of Bitcoin in Brief we reported about Coinbase opening the floodgates for institutional money, the new crypto law in Malta, and a move by Bittrex to invade the European market.
The community exchange and crypto learning platform uses its ICO to fight the crypto market depression. The platform offers the incredible exchange rate for one week to make a powerful statement: Dacxi believes in the future of cryptocurrencies.
Bitcoin was the first blockchain based cryptocurrency and is still the market leader based on market capitalization. However, even as the benchmark in the crypto ecosystem, it remains exceptionally volatile.
Coinbase continues to grow with their new high-end investment product Coinbase Custody, while Binance had to run a system update following some issues with its Syscoin wallet API.
This week BTC has recovered nearly 13% and a few altcoins attempting to follow, while a few others surpassed BTC, but will any be able to hold on to their gains. Market Overview As usual, bitcoin commands the room, hogging all the attention and taking credit for running, or as of late, ruining the cryptocurrency market.
FOMO Moments Crypto land is falling again; Neo, Tezos, and Bytecoin are all in pain. As another week in crypto land comes to a close markets are bearish once again and all coins are falling. Total market cap has not managed to push above $270 billion and is retreating back towards $260 billion.
The Maltese Parliament has passed three bills into law that establish a regulatory framework for the country's blockchain sector, Malta Today reports. Just last week, the Parliament “unanimously voted” to approve these bills in its second reading.
The cryptocurrency market has come surging back over the past week, moving up 15% from its lows, but analysts and CEOs expect for Bitcoin to move downwards before returning to all-time highs. Bitcoin Will “Probably Hit $2,000 Before It Hits $20,000” The cryptocurrency community breathed a sigh of relief this week, as Bitcoin quickly rebounded.
One of the first regulated exchanges in Australia known as Independent Reserve, will add support to Ripple (XRP) during this week. The exchange located in Sydney will offer its users the possibility to trade Ripple, the third most important cryptocurrency according to its market capitalization.
Many factors can influence stock prices, but three matter more than most. Tim Bennett reveals what they are in this week’s short video. Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid? Image source: YouTube Video Screenshot Killik Explains: The Three Key Drivers Of Stock Market Returns […]
Bitcoin is slipping again, and the mood across the market is shifting. Traders who were celebrating six-figure prices only weeks ago are suddenly watching key levels evaporate. The move below $106,400 was the first real warning sign, the collapse through $99,000 confirmed that the market is no longer treating those supports as serious areas of […]
The post It’s foolish to pretend Bitcoin’s story doesn’t include $79k this year appeared first on CryptoSlate.
The U. S. national debt surpassed $38 trillion in early November, and denoting the stock in bitcoin reveals a larger move than the underlying BTC price since January 20. According to the U. S. Treasury’s Debt to the Penny dataset, total public debt stood at $38.
Bitcoin dropped below $106,505. 22 on Nov. 3, down 3. 6% in 24 hours, as a strengthening US dollar and sustained ETF outflows pressured crypto across the board. As of press time, Bitcoin has lost that key support level, now trading below $104,000 for the first sustained time since June.
The Federal Reserve just cut the policy rate by 25 basis points, moving the target range to 3.75% to 4.00%. However, futures markets have now removed the prospect of a further cut in December. Before yesterday’s FOMC meeting, many traders expected a third rate cut because inflation had gradually eased, the labor market showed signs […]
The post Fed cancels December rate cut, 18% chance of hike, slowing Bitcoin rally appeared first on CryptoSlate.
Bitcoin breached $116,000 for the first time in two weeks, and the usual narrative surfaced: inflation hedge. But the data tells a different story. This cycle, Bitcoin trades less like a consumer-price shield and more like a real-time barometer of dollar liquidity and discount rates.
Bitcoin price sits around $115,000 as the Federal Reserve meets this week. Policy risk concentrates around Wednesday’s Oct. 29 decision at 2 p. m. ET, followed by Chair Jerome Powell’s press conference at 2:30 p.
US inflation ticked up to 3. 0% year over year in September, and futures markets still price a Federal Reserve rate cut next week. Headline CPI printed 3. 0% on the year and 0. 3% on the month, while core CPI held at 3.
