Bitcoin has faced a rollercoaster of price action over the past few days, hitting an all-time high last Tuesday before succumbing to a sharp 15% correction. The recent volatility has sparked a mix of uncertainty and opportunity among market participants. Despite the downturn, BTC remains a focal point for investors, with eyes on whether it […]
The average 401(k) savings rate, including employee deferrals and company contributions, continued to climb in 2023, a new industry survey reported. In 2023, the average combined savings rate was 12.7%, up from 12.1% in 2022, with employees deferring 7.8% of pay and companies adding 4.9%, according to the Plan Sponsor Council of America’s yearly survey […]
The Dow plunged Wednesday on a disappointing outlook from the Federal Reserve. In the process, the blue-chip index extended its losing streak to 10 days — the longest such stretch since Gerald Ford was president. The Dow Jones Industrial Average ended the day down about 1,123 points, or 2.6%, after the Fed indicated in a […]
Bitcoin hovered around the $97,000 mark on Friday, recovering from earlier losses amid broader investors caution toward risk assets. Bitcoin dipped below the $93,000 mark earlier in the day before trading above that price in volatile trade. The digital asset was last trading at $96,597.36, according to Coin Metrics, hovering near level attained about 24 hours […]
The U.S. Securities and Exchange Commission (SEC) has approved the first crypto index exchange-traded funds (ETFs) from Hashdex and Franklin Templeton. These funds will initially hold spot Bitcoin and Ether based on their market capitalizations, with an approximate weight of 80% Bitcoin and 20% Ether. Both ETFs are expected to launch in January. The Hashdex […]
The Dow Jones Industrial Average (^DJI 0.04%), one of three major U.S. stock market indexes, had declined in nine straight trading sessions as of Tuesday, Dec. 17. The last time the Dow Jones strung together a losing streak that long was February 1978. Specifically, the index fell more than 4% during the nine trading days […]
What’s going on here? The US dollar is nearing a two-year high as of December 20, 2024, thanks to the Federal Reserve’s hawkish policies, causing ripples across global markets. What does this mean? The greenback’s rise is largely due to the Federal Reserve’s hint at sticking with high interest rates longer than anticipated, boosting the dollar index […]
El Salvador has agreed to scale back its crypto agenda in exchange for a $1.4 billion loan from the International Monetary Fund (IMF), marking a shift in the country’s quest to become a global cryptocurrency hub. After four years of negotiations, the IMF approved a $1.4 billion Extended Fund Facility loan to be disbursed over […]
Bitcoin faces a tough battle for support after a macro scare stopped the bull market in its tracks. Bitcoin BTC$95,871 price losses have passed $12,000 in two days, but crypto traders and analysts are now lining up even lower targets. BTC price analysis warns $90,000 “not the dip” Bitcoin panicked both retail and institutional investors with its drop […]
Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. “We’re not allowed to own bitcoin,” Powell said at a press conference following the Fed’s latest two-day policy meeting, in which policymakers cut rates as expected while […]
The billionaire Michael Saylor, the executive chairman of enterprise software provider MicroStrategy (MSTR -9.52%), is a prominent Bitcoin (BTC -3.59%) bull. This view has worked out nicely for him after the world’s most valuable cryptocurrency has seen its price surge 151% in 2024 (as of the afternoon of Dec. 17). Saylor has positioned MicroStrategy to raise equity and debt capital in order […]
The stock sell-off on Wall Street was “healthy,” as the Federal Reserve’s cautionary projection on future rate cuts gives investors a “reality check,” according to Jeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School. The U.S. Federal Reserve cut interest rates by a quarter percentage point at its last meeting of the […]
