$BTC and other cryptos did not react much following the U.S. central bank’s latest interest rate increase. JPRubin23, GWilliamsJr_CMT and _jocelynyang_ report
Bitcoin and ether’s significant decline in recent months is providing bullish investors the opportunity to accumulate at a favorable cost basis. Larger crypto investors are continuing to explore this opportunity.
Bitcoin has been trading in a narrow range for nearly five months, with support at about $19,000 a good portion of the time. Ether has dipped as low as $1,000 but has mostly hovered around $1,300 over the same period. Now, both have stepped up a rung, with support above $20,000, and $1,500, respectively.
The increases come amid a fourth consecutive 75 basis point interest rate hike by the Federal Open Market Committee in the Federal Reserve's fierce battle to stem inflation without throwing the U.S. economy into a steep recession. Crypto markets have largely responded to the central bank’s monetary gyrations and other macroeconomic events, usually rising with encouraging news and dipping when investors are more pessimistic. Such reactions are normal in asset markets of all stripes.
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.
Market Wrap: Cryptos Rise in an Eventful Week; Bitcoin Hovers Over $21K, Ether Soars$BTC took a late-week turn upward after jobs data arrived stronger than expected to cap an eventful week of economic indicators. JPRubin23, GWilliamsJr_CMT and _jocelynyang_ report
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Rebounds on Friday, as NFP Report Looms – Market Updates Bitcoin NewsCryptocurrency prices rebounded on Friday, as markets prepared for the latest U.S. nonfarm payrolls report.
Read more »
Women Will Save Bitcoin: Chatting With Bitcoin Maximalist Tim Draper“Long-term, it’s gonna be all about the women,” Draper told me today at Web Summit in Lisbon, Portugal. “Women control 80% of retail spending, and they are only one of six Bitcoin wallets.”
Read more »
Fidelity Investments Launching Commission-Free Retail Crypto Trading for Bitcoin and Ether – Exchanges Bitcoin NewsFidelity Investments is launching a service to allow retail investors to trade bitcoin and ether commission-free. $BTC $ETH cryptocurrency crypto
Read more »
Bitcoin Options Giant Deribit Loses $28 Million in Hot Wallet Hack – Bitcoin NewsThe world’s largest bitcoin options exchange, Deribit says that the firm’s hot wallet was siphoned for nearly $28 million on Nov. 1, 2022.
Read more »