The dollar retreated from a two-week top against its major peers on Thursday as investors trimmed bets that the Federal Reserve will raise interest rates this month, though the looming debt ceiling deadline gave safe haven support to the greenback. A divided U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with the […]
Bitcoin fell Wednesday to cap its first down month of the year as optimism around the debt ceiling rally fizzled. The crypto market leader lost 2.77% to trade at $27,057.81, according to Coin Metrics. Ether slipped 2.2% to $1,865.82. Both cryptocurrencies posted their first losing months in 2023. Bitcoin ended the month down 7.9%, making it its worst month […]
Hong Kong’s benchmark index briefly dipped into bear market territory Wednesday on an intraday basis, erasing the rebound gains from China’s reopening. The Hang Seng index hit a session low of 18,044.86 points. That was 20.5% below its 52-week closing high of 22,688.9 points reached on Jan. 27. A technical bear market is defined as when prices […]
Crypto markets are bracing for a downturn as liquidity tightening resumes after the U.S. debt ceiling is lifted, observers said. The replenishment of the U.S. Treasury general account and the Federal Reserve (Fed) winding down its balance sheet will remove hundreds of billions of dollars from the financial system, weighing on cryptocurrency prices in the […]
Bitcoin’s volatility has dropped to historically low levels thanks to macroeconomic uncertainty and low market liquidity. However, on-chain and options market data allude to incoming volatility in June. The Bitcoin Volatility Index, which measures the daily fluctuations in Bitcoin’s price, shows that the 30-day volatility in Bitcoin’s price was 1.52%, which is less than half of the yearly […]
Hong Kong’s benchmark index briefly dipped into bear market territory Wednesday on an intraday basis, erasing the rebound gains from China’s reopening. The Hang Seng index hit a session low of 18,044.86 points. That was 20.5% below its 52-week closing high of 22,688.9 points reached on Jan. 27. A technical bear market is defined as […]
A growing number of Republican lawmakers are calling to block a central bank digital currency from being issued in the U.S., and Rep. Alex Mooney of West Virginia is the latest to join the chorus. However, Mooney’s bill, which was introduced in the House on Thursday, is different – he is calling for something called […]
European stock markets were lower Wednesday morning as jitters remained over the U.S. debt ceiling bill ahead of the June 5 deadline. The Stoxx 600 index was down 0.5% at 8:45 a.m. London time, with food and beverage stocks down 1.1% and autos 1.05% lower. Utilities and telecoms benefited from a move toward defensives as […]
You’d expect the stock market to surge after the White House and House Republicans reached a tentative deal to raise the debt ceiling, but markets may have other plans. The stock market, for the most part, has been ignoring the serious risks associated with the United States defaulting on its debt. Even if Congress passes […]
The bitcoin price has shot back toward $30,000 per bitcoin, climbing to its highest level since early May, with the ethereum price following suit as rumors swirl of a possible China-led crypto price bull run. Now, with a deal all but done to avert a “catastrophic” U.S. debt default, markets are nervously eyeing what JPMorgan […]
OPEC will welcome the return of Iran to the international oil market once the U.S. lifts sanctions from Tehran, the secretary general of the cartel said. “We believe that Iran is a responsible player amongst its family members, the countries in the OPEC group. I’m sure there will be good work together, in synchronization, to […]
Lucrative opportunities await in far-flung corners of the crypto market, as the price of wrapped Bitcoin on Richard Heart’s new PulseChain reached an all-time high of $70,000 last Wednesday. The founder tweeted the new all-time high for Bitcoin (BTC) or wrapped Bitcoin (wBTC) after the asset spiked from $27,000 to $70,000. Bitcoin Price Roller Coaster […]
