Bitcoin holding above key support level remains encouraging sign
at its meeting on Wednesday, but it did imply that rates could remain higher for a longer period.
This decision may have triggered the sell-off in the equities markets: the S&P 500 is down more than 2% and the Nasdaq is down about 3% this week. , on the other hand, demonstrated relative strength, holding at the same price of $26,600 as last week and outperforming over the past 30 days., explains Bitcoin's recent outperformance relative to the equities market. The fact that Bitcoin and the major cryptocurrencies have managed to stay above their crucial support levels remains an encouraging sign.Key facts explaining BTC's steady price actionhighlighted some key points that may explain Bitcoin's steady price.
The Federal Reserve kept interest rates unchanged this week, yet their dot plot suggests a rate hike is on the horizon for later this year. Plus, there are only two cuts expected through 2024. This has led to the highest 10-year yields since 2007 and added pressure on stock…
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.
Mining Bitcoin Or Ethereum Can Be Daunting, Bitcoin Spark Ends Mining FearsThe decentralized platform has made an immense surge in market capitalization. This is pivoted by the entrance of various projects that seem eye-catching
Read more »
RYDER CUP '23: Facts and figures for the 45th Ryder CupFacts and figures for the 45th Ryder Cup matches at Marco Simone in Italy. The Americans are the defending champions, but they have not won on European soil since 1993.
Read more »
19 Facts About Cats That You Probably Won't Know Unless You Own OneI want a cat now.
Read more »
In Case You're Having A Bad Day, Here Are 13 Wholesome Nature Facts For YouPlants have siblings!
Read more »
Rapper Jhayco Shares 5 Fun Facts With Us WeeklyRapper Jhayco caught up with Us Weekly during National Hispanic Heritage Month
Read more »
How To Stop Your Emotions From Driving Your Life, From An Existential TherapistPractical ways to separate your feelings from facts.
Read more »