Global #Federal Reserve

Following a notable upsurge in the cryptocurrency markets last weekend, digital assets have maintained their gains, driven by the Federal Reserve's recent statements.

The cryptocurrency market is poised for a major event on August 23, 2024, as Bitcoin and Ethereum face a combined options expiry worth $1.5 billion.

Benjamin Cowen, a prominent crypto strategist, has recently shared insights on the crypto market’s potential trajectory, emphasizing the Federal Reserve's role in influencing Bitcoin's performance.

The Federal Reserve Bank of Boston’s President Susan Collins recently suggested that the central bank might consider easing interest rates soon. This potential shift, with cuts possibly beginning on September 18, could significantly impact financial markets, sparking a bullish trend.

As of now, Bitcoin and major altcoins exhibit stability, yet the aftermath of the weekend's sharp liquidation has left a significant impact on the market. The recent wave of liquidations, which saw billions in leveraged positions wiped out, has created a technical pressure on prices, even though the market seems stable at press time.

Bitcoin experienced a dramatic roller-coaster week, moving from the brink of its all-time high to a significant drop. On Monday, Bitcoin surged close to $70,000 per coin on Coinbase, America's largest crypto exchange.

Bitcoin's recent attempt to break through the $70,000 price ceiling has been met with strong resistance, dashing hopes of a sustained recovery following the Federal Reserve's latest policy announcements

The financial world is watching closely as the latest US inflation data was released today. The Consumer Price Index (CPI), a key measure of inflation, came in at 0.3% for the month, meeting expectations. The annual inflation rate was reported at 3.4%, slightly below the anticipated 3.6%.

Bitcoin (BTC), the world's leading cryptocurrency, is trading near $67,250 as the market awaits the release of crucial US Consumer Price Index (CPI) data and the Federal Reserve's interest rate decision. The CPI data is expected to shed light on the state of inflation, while the Fed's rate decision could significantly impact market sentiment.

The cryptocurrency market is experiencing a welcome surge as news broke of a potential $2 billion influx of funds. This significant investment comes amidst speculation of an upcoming interest rate cut by the Federal Reserve, a development often seen as positive for riskier assets like cryptocurrencies.

Some top analysts on Wall Street are suggesting that the US Federal Reserve's potential shift in stance on inflation could serve as a catalyst for a significant surge in the cryptocurrency market, potentially amounting to trillions of dollars. This forecast is driven by the anticipation of about $6 trillion in sidelined capital returning to the market as the Fed eases its hawkish stance.

Following many days of precipitous declines, the price of bitcoin had a roughly two-fold boost following the Federal Reserve's decision not to raise interest rates, but it promptly declined again.