Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$83,375.00
-1.91%$1,802.64
-3.98%$2.03
-4.36%$596.07
-0.84%$0.999936
-0.01%$117.15
-6.80%$0.161924
-6.18%$0.645535
-5.28%$0.23198
-2.65%$1,802.66
-3.88%$83,300.00
-1.94%$3.68
-9.19%$9.41
0.09%$12.86
-5.53%$1.00
0.00%$0.258687
-3.27%$2,170.58
-3.67%$18.19
-6.11%$2.27
-7.92%$0.00001216
-1.76%$0.161585
-3.58%$83.04
0.48%$6.27
0.28%$3.98
-2.90%$303.02
-0.78%$4.54
-1.13%$0.999713
-0.01%$1.001
0.05%$1,802.98
-3.93%$0.625166
-6.89%$1,915.28
-4.12%$27.82
-0.04%$213.78
-0.91%$11.54
-14.33%$5.94
-2.79%$5.20
-2.04%$1.046
0.00%$0.00000705
-5.20%$2.41
-7.04%$46.93
-1.62%$83,396.00
-1.89%$34.25
0.09%$22.13
-2.27%$0.096189
-6.70%$0.755669
-4.09%$0.799413
-2.65%$5.06
-4.49%$16.09
-2.92%$0.994526
-0.37%$152.12
-4.80%$1.16
-0.16%$1.00
0.00%$4.31
-1.12%$0.02153509
-5.80%$9.13
-11.79%$206.34
-9.95%$83,199.00
-2.00%$2.70
-3.67%$4.04
0.29%$0.316078
-11.73%$3.22
-9.04%$0.062948
-5.86%$2.77
-9.78%$0.183863
-6.60%$0.1754
-6.63%$0.460841
-7.85%$0.302665
-7.23%$83,289.00
-1.78%$10.37
-4.42%$0.787412
-2.65%$0.691974
-6.23%$0.430001
-5.31%$4.29
3.52%$1,802.68
-4.12%$1,271.16
-7.84%$1,873.88
-4.04%$0.373072
-7.31%$0.065841
-1.60%$1.03
-3.42%$1.002
0.24%$66.12
-3.93%$0.390043
-2.55%$122.08
-6.96%$0.729885
-6.76%$2,040.69
-3.97%$0.574678
-5.54%$0.997691
-0.01%$1.001
0.07%$14.88
1.28%$0.00001095
-11.08%$0.466023
-8.88%$1.001
0.08%$8.27
-4.68%$0.16395
-5.44%$0.01295226
-3.60%$0.08168
-6.86%$0.779797
-3.42%$3,144.27
0.07%$82,657.00
-1.76%$0.999461
-0.04%$0.819894
-6.49%$596.79
-0.90%$1,914.99
-4.07%$0.561468
-0.58%$3,130.33
-0.32%$0.514549
-1.94%$6.22
-12.56%$83,296.00
-1.70%$0.63944
-2.07%$0.0144774
-7.61%$2.03
-10.44%$0.256704
-4.85%$1.00
0.03%$0.00000063
-3.93%$39.04
-4.43%$0.104265
-0.77%$0.161042
-6.20%$30.04
-5.15%$0.999635
-0.00%$0.364718
-4.67%$149.69
-7.12%$1,876.95
-4.03%$1.81
-2.56%$1.00
-0.01%$0.00005431
-6.69%$1.72
-8.41%$15.10
-5.95%$2.78
-7.44%$0.998048
-0.01%$128.73
-6.63%$0.070117
-1.57%$6.25
-12.93%$0.130711
-7.69%$0.00973174
-6.74%$0.999982
0.02%$1.001
0.06%$80,559.00
-4.16%$0.599279
-4.77%$0.463693
-4.17%$2.81
-7.91%$27.45
0.99%$0.413593
6.95%$1.001
0.09%$0.232692
-6.03%$15.41
-5.90%$1.56
-16.56%$1,914.78
-3.99%$2.67
-6.00%$83,273.00
-2.02%$0.00000043
-1.79%$83,328.00
-1.53%$0.00452773
-8.47%$0.16171
-6.23%$0.661576
-6.78%$1,802.66
-4.00%$110.54
0.01%$45.30
3.61%$0.995099
-0.38%$0.427809
-16.91%$1.12
-2.33%$1,802.66
-3.97%$1.047
-3.08%$0.078097
-5.95%$0.390916
-24.60%$1,801.55
-4.06%$1.10
0.18%$0.04011786
-6.17%$0.083868
10.68%$0.129862
-9.95%$0.00001899
-4.26%$5.71
-6.17%$0.371224
-10.59%$83,323.00
-1.88%$0.568338
-2.28%$0.182641
3.26%$1,880.67
-4.05%$0.00631232
0.35%$0.998818
-0.03%$0.433039
-6.05%$0.999683
-0.17%$0.803847
-3.73%$0.00637144
-4.84%$1,806.94
-3.87%$0.00000163
7.55%$1,845.87
-1.66%$0.403498
-4.95%$0.186577
-5.37%$0.344062
-5.55%$4.60
-7.81%$0.996888
-0.44%$1.52
4.74%$0.00005779
-2.58%$0.03088051
-3.72%$0.116332
32.83%$116.20
-2.93%$0.531157
-3.46%$0.00355408
-5.33%$0.03007695
-4.55%$0.00472344
-8.09%$0.999198
-0.03%$0.0086992
-1.31%$1,783.49
-4.10%$2.57
-5.03%$1.00
0.06%$1,804.05
-3.95%$1.12
-11.14%$0.224185
-5.43%$2.87
-1.88%$1.13
-5.20%$83,209.00
-1.99%$0.603166
-3.10%$3,122.70
-0.16%$81,985.00
-3.94%$21.33
-4.03%$0.222822
-5.94%$0.00292361
-5.79%$1,907.92
-3.71%$3.26
-7.96%$0.512073
-2.29%$0.1825
-4.58%$1,971.39
-4.03%$0.00041807
-6.68%$15.01
-3.46%$0.117001
-0.62%$1,959.64
-3.80%$21.37
0.44%$0.234057
-8.04%$0.02946849
-1.55%$1,673.39
-1.96%$1,832.65
-2.30%$0.100298
-4.07%$0.03247902
-5.16%$0.00297414
-9.26%$0.649048
-5.08%$0.907912
-2.29%$0.482993
-5.41%$0.05916
-8.09%$0.516249
-1.55%$0.01084574
-3.19%$0.999675
0.02%$0.997322
-0.08%$0.00205078
-7.69%$83,930.00
-1.18%$0.265329
3.76%$1,943.55
-3.60%$0.00440252
-3.65%$0.596787
-5.13%$0.02602513
-7.89%Reading
Bitcoin (BTC) experienced a drop to $29,147, dipping below $29,500 for the first time since June 21.
The latest dip comes amid uncertainty ahead of the U.S. Federal Reserve's policy rate decision this week.
Since March 2022, the Fed has implemented its fastest rate hike policies in decades, raising the benchmark borrowing rates from zero to a range between 5% and 5.25%.
Rate hikes are one of the central bank's primary tools to slow down inflation by increasing borrowing costs. This can also have the effect of slowing the rise of stocks and, of late, cryptocurrencies.
In June, annual inflation decreased to 3% compared to 9.1% a year ago, bolstering market hopes that the Fed would ease its hawkish stance. Last month, the central bank went ahead and paused its hike for the first time in ten consecutive meetings.
In June, the Fed suggested that they may need two more rate hikes this year to combat inflation.
Now, though, the market awaits the policy rate meeting, with the CME FedWatch Tool posting a 99.8% probability that the Fed will announce a 25-basis-point hike in this week's meeting.
The expectations of a rate hike have also bolstered the dollar, as the dollar index (DXY), which measures the dollar’s value against major reserve currencies, rose above 100 points last week, enjoying a 1.31% gain.
The Nasdaq index also slipped below 15,500 points with a 0.84% decline last week.
The futures market opened with a slight positive rise of 0.19% this morning with the index trading around 15,475 points.
If the Fed increases its hawkishness in the latest meeting, hinting at a prolonged rate hike regime or announcing more than one rate hike for the rest of the year, the markets could witness a significant sell-off due to fears of a potential recession.
Conversely, if the Fed's language suggests that this rate hike will be the last one for this cycle, the markets may receive a green signal to move upwards.
CoinGecko data shows that Bitcoin's trading volumes have also decreased significantly leading up to the Fed's meeting, with three consecutive days of less than $10 billion in daily volumes since last Friday.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
On Wednesday, U.S. equity futures and major cryptos fell sharply after President Donald Trump announced sweeping new tariffs on 185 countries, rattling global markets and triggering a broad risk-off move. The Kobeissi Letter described the scene as “truly insane to watch,” noting that markets reversed violently as Trump unveiled tariff rates nation by nation during his "Make America Wealthy Again" event. The S&P 500 lost more than $2 trillion in market capitalization within 15 minutes. Nasdaq 100...
While Standard Chartered expects the price of Bitcoin to roughly quintuple by the end of 2029, the multinational bank says that there's an altcoin that could substantially outrun it. Layer-1 blockchain Avalanche’s utility token AVAX could jump to $250 by the end of the decade—a 1,326% spike as of this writing—according to an April report from the bank. By comparison, Standard Chartered predicts that Bitcoin’s price will rise nearly 500% to $500,000 by the end of 2029. AVAX is currently trading...
The price of Bitcoin popped and then dropped on Wednesday after the White House pressed forward with U.S. President Donald Trump’s highly anticipated tariffs. “Our country and its taxpayers have been ripped off for more than 50 years,” Trump said from the White House Rose Garden. “But it’s not going to happen anymore.” The leading cryptocurrency was recently changing hands around $85,500, down 1.1% over the past hour, according to crypto data provider CoinGecko. During Trump’s remarks, Bitcoin...