Good morning. Here’s what’s happening this morning:Market moves: Bitcoin dropped on U.S. Fed Chair Powell’s comment, while ether gained more market share.Technician’s take: Support levels remain intact, which could establish a tight trading range between $55,000-$60,000 BTC into the Asian trading day.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto … [Read more...] about First Mover Asia: Bitcoin Rally Stalls After US Central Bank Chair’s Comments; Ether Rises
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Three Arrows Capital CEO backtracks on Ethereum abandonment comments
CEO and founder of hedge fund Three Arrows Capital (3AC) Zhu Su tweeted that he has “abandoned Ethereum despite supporting it in the past,” before making a U-turn on the statement. In the Nov. 21 thread, Su claimed that Ethereum culture “suffers massively from the Founders’ Dilemma,” and that “everyone is already far too rich to remember what they originally set out to do.” Yes … [Read more...] about Three Arrows Capital CEO backtracks on Ethereum abandonment comments
Hawkish Fed comments and fears of stablecoin regulation spark market sell-off
The bullish optimism seen earlier in the week was dialed back on Nov. 4 after recent comments from United States Federal Reserve Chairman Jerome Powell confirmed that the central bank would soon start to taper its monetary policy of easing and bond-buying. These statements appear to have kicked off a series of price decreases across the crypto market and both Bitcoin (BTC) and … [Read more...] about Hawkish Fed comments and fears of stablecoin regulation spark market sell-off
Bitcoin retests $37K support, gold and stocks drop lower over Fed comments
Bitcoin (BTC) price dropped another notch to $37,365 today after a failed attempt by bulls to retake the $40,000 level. The renewed slump comes as the stock market and commodities also pulled back as a result of Federal Reserve Chair Jerome Powell’s comments related to future interest rate hikes and concerns over rising inflation which led to pdeclines for both Bitcoin and … [Read more...] about Bitcoin retests $37K support, gold and stocks drop lower over Fed comments
Hawkish Fed comments push Bitcoin price and stocks lower again
Bitcoin (BTC) and the wider financial markets faced a new wave of selling on June 18 following comments from James Bullard, the president of the United States Federal Reserve Bank of St. Louis, indicating that he expects the first interest rate increase to happen in late 2022. Bullard's comments were even more hawkish than Wednesday’s comments from Fed Chair Jerome Powell, who … [Read more...] about Hawkish Fed comments push Bitcoin price and stocks lower again