Good morning. Here’s what’s happening:Market moves: Bitcoin and ether go down and then up; altcoin prices are mixed.Technician's take: BTC appears oversold into the Asia trading day, but upside remains limited.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.PricesBitcoin (BTC): $42,463 +0.8%Ether (ETH): $3,166 … [Read more...] about First Mover Asia: Fed Tightening, Economic Woes Continue to Spook Crypto Investors
Fed
First Mover Asia: Bitcoin, Altcoins Climb Following Fed Reserve Chief's Inflation Reassurances
Good morning. Here’s what’s happening:Market moves: Bitcoin led a broad crypto recovery ahead of the U.S. CPI release.Technician’s take: Buyers started to return to the market, although the upside seemed limited to the $45,000 level.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.PricesBitcoin (BTC): $42,806 … [Read more...] about First Mover Asia: Bitcoin, Altcoins Climb Following Fed Reserve Chief's Inflation Reassurances
Powell Tells Senate Fed Will Release Its Crypto Report ‘Within Weeks’
At Tuesday’s hearing, Powell was asked by Ranking Member Sen. Pat Toomey (R-Pa.) whether, if the Fed was given authorization from Congress to pursue a CBDC, if that would mean that a CBDC could not coexist with “well-regulated, privately-issued stablecoins.” Source link … [Read more...] about Powell Tells Senate Fed Will Release Its Crypto Report ‘Within Weeks’
Fed Chair Jerome Powell Appears Before the Senate Banking Committee
Federal Reserve Chair Jerome Powell has run the U.S. central bank for the last four years, but his most significant work may have come in the past two years during the COVID-19 pandemic. President Joe Biden recently nominated Powell to a second term helming the Fed. The Senate Banking Committee will question the bank regulator on Tuesday. They will likely focus on current … [Read more...] about Fed Chair Jerome Powell Appears Before the Senate Banking Committee
Bitcoin Approaches Death Cross as Goldman Foresees 4 Fed Rate Hikes This Year
That said, the technical indicator’s past record as a predictor of bear markets is mixed. According to research by Kraken, many of bitcoin’s previous death crosses, including those seen in 2014 and 2018, coincided with “either a sell-off in the days that followed or a continued macro downtrend that confirmed a bear market.” Source link … [Read more...] about Bitcoin Approaches Death Cross as Goldman Foresees 4 Fed Rate Hikes This Year