Fed
Crypto’s Worst Week of 2023
Crypto markets slammed by Fed, Silvergate, lawsuits. That story and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."
Fed’s Preferred Inflation Gauge Runs Hot; Outlook for Bitcoin Futures on CME
The January PCE Price Index – the Fed's favored inflation indicator – unexpectedly rose to 5.4%. Separately, three-month bitcoin futures listed on the CME, which is widely considered a proxy for institutional activity, are trading at an annualized premium of around 8.7% to the underlying reference index. The equivalent premium on offshore exchanges, mainly Binance, has jumped to 6.3%, the highest since January 2022.
Bitcoin Slips Below $24K Amid New Inflation Data; Coinbase’s New Layer 2 Blockchain Has Rocky Rollout
Bitcoin (BTC) failed to recapture the $24,000 support level following the release of the personal consumption expenditure (PCE) index, also referred to as the Fed's favorite inflation gauge. Plus, crypto exchange Coinbase’s new layer 2 blockchain Base had a rough start on Thursday, drawing a stream of complaints from users on social media.
Fed Approves Quarter-Point Rate Increase, Smallest Hike Since March 2022
The U.S. Federal Reserve approved a 0.25 percentage point rate increase, the smallest hike since March 2022. Caleb & Brown Director Jake Boyle discusses the latest inflation data and what this means for the crypto markets.
Fed Minutes Show Most Members Approve 25BPS Rate Hike; Counsel Says Voyager’s Binance US Sale Plan ‘Full Steam Ahead’
The latest FOMC minutes reveal that almost all Fed policymakers favored easing rate hikes to a quarter percentage point. Plans to wind up Voyager Digital by selling assets to Binance US are "on track," an attorney for the bankrupt crypto lender told a New York court on Wednesday. Coinbase (COIN) topped fourth-quarter earnings estimates Tuesday evening, but shares are sharply lower Wednesday alongside a sizable pullback in crypto.
'Disinflationary' Trends Will Soon Hit a Wall: Analyst
"It's going to be very hard to get to 2% [inflation]," OANDA Senior Market Analyst Edward Moya said, reacting to the U.S. Federal Reserve's latest interest rate hike and Chair Jerome Powell's comments that "disinflation" has started. Plus, he shares insights on how traders are reacting to the "hot" labor market.
Bitcoin Clings to $23K as Fed Raises Rates Another 25 Basis Points
Bitcoin (BTC) is hovering around $23,000 as traders react to another 25-basis-point rate hike from the Federal Reserve. Marc Ostwald, ADM ISI Chief Economist, joins "Wolf of All Streets" Crypto Trader Scott Melker to discuss how bitcoin reacts to macroeconomic conditions. Plus, their price outlook on the largest cryptocurrency by market capitalization in 2023.
Fed's Next Sharp Pivot Could Come From a Liquidity Crunch: Economist
Johns Hopkins University professor of applied economics Steve Hanke weighs in on a potential Fed pivot ahead of Wednesday's Federal Open Market Committee (FOMC) meeting. "The leading indicator will be the markets going into some kind of liquidity crunch," he said.
Bitcoin Below $23K as PCE Index Shows Cooling Inflation
Bitcoin (BTC) traded below $23,000 as the Personal Consumption Expenditures (PCE) index rose 4.4% annually last month. JMP Securities Director of Financial Technology Research Devin Ryan discusses market reaction to cooling inflation. Plus, what to expect from the Federal Reserve's meeting on Wednesday.
