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Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement
8.3.2024
Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to decrease by more than 60%. Additionally, the central bank raised interest rates by 600 basis points. Both steps were key conditions set by the IMF which Egypt had to meet before the approval of a...
U.S. Added 275K Jobs in February; Unemployment Rate Unexpectedly Rose to 3.9%
8.3.2024
So far in 2024, bitcoin's concerns about the path of the economy or interest rates have taken a back seat to the overwhelming demand from the spot ETFs
South Korea’s Bitcoin Premium Hits 2-Year High, Surpassing Global Rates by $4K
7.3.2024
The latest data reveals that the premium on bitcoin in South Korea has escalated to its highest level in more than two years. At 7:30 a.m. Eastern Time (ET) on Thursday, the weighted global average price for bitcoin hovers between $66,800 and $67,000, whereas on the South Korean exchange Upbit...
Crypto Funding Rates Reset After Bitcoin's Sharp Pullback From $69K
6.3.2024
The market-wide resetting of funding rates means potential for a more long lasting move to record highs in bitcoin
Bitcoin Withdrawals Near Record as Investors Pull $2 Billion from Exchanges
4.3.2024
Bitcoin exchanges recorded a near-record outflow of $2.3 billion, approaching the highest withdrawal rates seen in its history with least Bitcoin assets available in all platforms since 2018.
The post Bitcoin Withdrawals Near Record as Investors Pull $2 Billion from Exchanges appeared first...
Economist Peter Schiff Says Gold Price Not Rising Fast Enough, Condemns Civil Ruling Against Donald Trump
27.2.2024
Peter Schiff, a U.S. economist and gold advocate, has attributed the lacklustre performance of gold mining companies to the rising inflation rate, which contrasts with a largely static gold price. Schiff maintains that the U.S. inflation rate would have been even higher if the U.S. Federal Reserve...
Bitcoin Funding Rates Jump to 100%, Sparking Opportunity for Savvy Traders
27.2.2024
FOMC Likely to Keep Rates Unchanged in March After Hot Inflation Report
14.2.2024
Wall Street braced for a chilly reality as hotter-than-expected inflation data sent major indexes tumbling on Tuesday. The Labor Department report revealed US consumer prices surged in January, exceeding forecasts and fueled by rising shelter costs. This unexpected heatwave extinguished...
Risk Assets Like Bitcoin Are Defying Low Fed Rate Cut Expectations: Analyst
14.2.2024
An interest rate cut isn't likely on the table, but risk assets are doing just fine
New York Community Bancorp Counters Moody’s Junk Status, Asserts Strong Deposits
8.2.2024
Just one week following a dramatic plunge in New York Community Bancorp’s shares, which tumbled 40% in a single day at January’s close, Moody’s Investors Service downgraded the bank’s credit rating to junk status. The bank’s troubles have ignited concerns over a potential...
Egypt Aims to Ease Pressure on Forex Reserves via $1 Billion Treasury Bill Auction
6.2.2024
Barely a month after raising $850 million from an auction of dollar-denominated treasury bills, the CBE was reportedly poised to raise $1 billion via similar instruments. The decision to hike overnight interest is said to be part of the central bank’s ongoing efforts to stabilize Egypt’s...
Bitcoin Slips Towards $42K as Interest Rates Soar; Chainlink's LINK Defies Crypto Slump
5.2.2024
Cryptocurrencies slid lower Monday with bbitcoin nearing $42K as soaring U.S. interest rates amid strong economic data, hawkish Powell weighed on prices
Nigeria Forex Crisis: Central Bank Removes Cap on Exchange Rate for International Money Transfer Operators
4.2.2024
The Central Bank of Nigeria announced on Jan. 31 that it had removed caps on naira payout rates that international money transfer operators are allowed to quote. The central bank said the policy change is an effort aimed at further liberalizing the foreign exchange market. The naira’s Feb.1...
Bitcoin Price Prediction as BTC Pumps Past $43,000 Resistance – $50,000 BTC Incoming?
3.2.2024
Bitcoin Price Prediction Amid evolving cryptocurrency landscapes, BTC’s ascent beyond the $43,000 threshold, marking around 0.20% uptick, fuels bitcoin price predictions of its advance towards $50,000. This momentum coincides with US legislators scrutinizing the SEC’s cryptocurrency...
U.S. Added 353K Jobs in January, Blowing Past Estimates
2.2.2024
The latest update on the labor market came less than two days after the Fed's Jerome Powell poured cold water on market hopes of a rate cut in March
US Banking Sector Volatility — Distressed Commercial Real Estate Sector Raises Default Concerns
1.2.2024
Following the U.S. central bank’s decision to keep the federal funds rate unchanged, the turbulence in the commercial real estate market has sent shockwaves through the country’s banking sector and internationally as well. On Thursday, New York Community Bancorp witnessed a further...
Bitcoin Price Prediction: BTC at $42,000 Amid PBOC Moves; Fed Keep Rate Steady at 5.50%
1.2.2024
On Thursday, Bitcoin price prediction remains a hot topic, especially as BTC hovers around the $42,000 mark, despite a recent 2% dip. This market activity unfolds against a backdrop of significant global financial events, including the Federal Reserve’s decision to maintain interest rates...
Top Crypto Gainers Today on Uniswap – PORK, LARRY, SOUTH
1.2.2024
PepeFork, LarryCoin and DeepSouth AI are the top crypto gainers today on DEXTools as the broader crypto market drops on Wednesday. Bitcoin (BTC) was last down around 1.6% under $43,000 after Fed Chair Powell pushed back against a March rate cut. After the Fed left interest rates unchanged...
Bitcoin Price Dips as Fed Chair Powell Says March Rate Cut Unlikely – Where Next for BTC?
31.1.2024
The Bitcoin (BTC) price has dipped back below $43,000 in wake of hawkish comments from Fed Chairman Jerome Powell, who on Wednesday commented that he doesn’t think it likely the FOMC will be confident enough to cut US interest rates as soon as March. ⚠️ Powell: Not Likely Committee Will...
Fed Maintains Interest Rates, Seeks ‘Greater Confidence’ on Inflation Goal; Bitcoin and Gold Hold Steady
31.1.2024
On Wednesday, Jan. 31, 2023, the U.S. Federal Reserve opted to maintain the federal funds rate unchanged. The Federal Open Market Committee (FOMC) additionally stated that the committee “does not expect it will be appropriate to reduce the target range until it has gained greater confidence...