Blue-chip cryptocurrencies Bitcoin and Ethereum surged Thursday as Federal Reserve minutes suggested that U.S. interest rate cuts may commence within weeks. The minutes validated bets on a rate cut next month and said the “vast majority” of policymakers felt that if data came in as expected, a September cut was likely to be appropriate. As … Read more
Bitcoin and Ether prices surged on Tuesday, reflecting a recovery across global markets battered by recent sell-offs. This bounce-back was supported by reassuring statements from central bank officials and positive U.S. economic data. US economic data released on Monday suggested that a recession isn’t imminent. The July ISM Services PMI exceeded economists’ expectations, registering at … Read more
Major cryptocurrencies fell in Thursday’s trade following the Federal Reserve’s decision to keep the key interest rate unchanged. Overnight, the US Federal Reserve maintained its key interest rate at 5.25–5.5% for the eighth consecutive time, as expected, while signaling the possibility of a rate cut in its next meeting in September. The Federal Open Market … Read more
Ahead of tonight’s US Fed meeting, where Jerome Powell is expected to signal the timing and number of potential rate cuts, cryptocurrency markets traded lower on Wednesday, with Bitcoin and Ethereum leading the decline. At 1:48 pm IST, Bitcoin (BTC) was trading 1.3% lower at $66,088, while Ethereum fell nearly 1.11% to $3,313. Meanwhile, the … Read more
Following a postponement in rendering a decision on Fidelity’s Ethereum Exchange-Traded Fund (ETF) application, Commissioner Hester Peirce of the U.S. Securities and Exchange Commission (SEC) has indicated that the approval process for an Ethereum ETF will diverge from the path witnessed in the case of Bitcoin ETFs. Peirce, also known as “crypto mom” in the … Read more
2023 has been a mixed year for the cryptocurrency industry. While the downturn seen in early 2022 continued through the first half of 2023, there were some silver linings in the form of Bitcoin ETF applications by traditional finance heavyweights such as BlackRock. This provided the much-needed support for the legacy coin to gain value … Read more
