Bitcoin has been trading in a tight range after the Federal Open Market Committee (FOMC) meeting. The Fed maintained its interest rate, citing 'somewhat elevated' inflation. Meanwhile, Tether announced plans to mint USDT on Bitcoin's base layer and Lightning Network, utilizing the Taproot Assets protocol. Kraken also resumed crypto staking in the US after a two-year hiatus due to SEC regulations. Additionally, the news highlights the potential for BTC and ETH ETFs to list soon, with recent updates on S-1 filings signaling a near future launch.
has been tightly consolidating between the $100K-$105K price range post-FOMC update. As expected, the Fed held the interest rate unchanged, stating that ‘inflation was somewhat elevated.’At press time, the king coin was valued at $104K, a few hours before the key U.S. PCE price index report.
The stablecoin issuer noted that the update is powered by Taproot Assets, a new protocol on the Bitcoin network. This protocol enhances functionality by allowing tokenized assets like USDT.“By enabling USDt on the Lightning Network, we are not only reinforcing Bitcoin’s foundational principles of decentralization and security but also creating practical solutions for remittances, payments, and other financial applications that demand both speed and reliability.
BITCOIN USDT STAKING Etfs INFLATION
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin’s response to FOMC could push BTC above $110KBitcoin next moves hangs in the balance ahead of FOMC meeting and key US inflation data. Is a new all-time high likely or a dump?
Read more »
Bitcoin's Network Activity Decline Sparks Concerns About Price TrajectoryBitcoin's lackluster performance and a significant drop in network activity have raised concerns among investors and analysts. The cryptocurrency's price has been trading within a tight range, suggesting uncertainty about its future direction. While this stagnation could indicate market resilience, it also points to a potential price decline if selling pressure intensifies.
Read more »
Stablecoin Outflows Signal Market Caution Amidst BTC DeclineCrypto markets are experiencing a risk-off sentiment, leading to stablecoin outflows and a decline in Bitcoin price. Analyst Dark Fost highlights the reversal of stablecoin flows on Binance, mirroring a similar trend observed before Bitcoin's summer slump in 2022. Persistent outflows indicate market caution, potentially fueled by hawkish FOMC minutes, news of the U.S. government selling seized Bitcoin, and the rising dominance of Tether (USDT).
Read more »
MicroStrategy's Bitcoin Bets Deliver Stellar Returns in 2024MicroStrategy's aggressive Bitcoin purchases in 2024 have paid off handsomely, with its stock, MSTR, becoming the top-performing asset globally. MSTR's stock surged 358% year-over-year, sharing the top spot with Palantir Technologies. Bitcoin ranked third, while Nvidia came in second. \MicroStrategy's founder, Michael Saylor, a staunch Bitcoin proponent, believes the cryptocurrency will consistently outperform most U.S. stocks. The firm acquired a significant amount of Bitcoin (446.4K BTC), controlling 2.2% of the total supply as of late 2024. The most aggressive buying spree occurred in the fourth quarter, with over 107K BTC acquired in November alone.\While the pace of acquisition slowed in December, the firm plans to launch a massive equity issuance program to further accelerate its Bitcoin strategy. Despite a recent dip following a Bitcoin sell-off, MicroStrategy's bold bet on Bitcoin continues to generate significant returns.
Read more »
Gold down slightly; no big reaction to FOMC leaving rates unchangedThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
– Exploring key price levels to watch as FOMC meeting looms aheadBitcoin can expect some price volatility ahead of the FOMC meeting. Explore key levels, charts, and potential BTC price action scenarios...
Read more »