Bitcoin hits 17-month high as Powell strikes less hawkish chord
Investing.com-- Bitcoin prices rose on Thursday after the Federal Reserve struck a less hawkish tone than markets were expecting, with broader cryptocurrencies also advancing as the dollar weakened and traders bet on no more interest rate hikes.Fed Chair Jerome Powell struck a seemingly less hawkish tone on future rate hikes. While he still left the door open for one more rate hike this year, Powell also acknowledged that monetary conditions had tightened substantially in recent months.
Bitcoin crossed the $35,000 mark for the first time since May 2022. A series of high-profile bankruptcies in the crypto market- including Terra, Three Arrows Capital and most notably FTX, had triggered deep declines in crypto prices over the past year. The world’s largest crypto token had sunk to as low as $15,000 in late-2022.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
15 Years After the Bitcoin White Paper, Bitcoin Builder Culture FlourishesAubrey Strobel is the host of The Aubservation podcast, and an advisor to Lolli and Trust Machines.
Read more »
Powell likely to underscore inflation concerns even as Fed leaves key rate unchangedFor the first time in nearly two years, the Federal Reserve is set Wednesday to keep its key short-term interest rate unchanged for a second straight policy meeting — the clearest sign to date that the Fed is edging closer to the end of its rate-hiking campaign.
Read more »
Powell likely to underscore inflation concerns even as Fed leaves key rate unchangedFor the first time in nearly two years, the Federal Reserve is set Wednesday to keep its key short-term interest rate unchanged for a second straight policy meeting — the clearest sign to date that the Fed is edging closer to the end of its rate-hiking campaign.
Read more »
Powell likely to underscore inflation concerns even as Fed leaves key rate unchangedFor the first time in nearly two years, the Federal Reserve is set Wednesday to keep its key short-term interest rate unchanged for a second straight policy meeting — the clearest sign to date that the Fed is edging closer to the end of its rate-hiking campaign.
Read more »
WATCH LIVE: Jerome Powell to speak after Federal Reserve kept interest rates steadyEden Villalovas is a breaking news reporter. Eden graduated from the University of Colorado, Boulder, in May 2022, where she served as the managing editor of the Bold.
Read more »
USD/CHF oscillates at around 0.9100 as Fed keeps rates on hold, eyes on Powell conferencesThe USD/CHF retreats some from daily highs reached at 0.9107, though it remains trading within the 0.
Read more »