Bitcoin Grinds Near $30K. Is the Rally Over? Elon Musk, the maverick CEO of Tesla and Twitter, known for his unorthodox views, recently expressed his criticism of the US Federal Reserve’s “heavy-handed” approach to inflation containment. In a series of tweets on March 29, Musk sparred with Twitter users on the topic of American macroeconomic […]
Triple Bottom Produces the Expected Results. What’s Next? Last Wednesday the Federal Reserve raised the interest rate by 25 basis points, a decision that had been widely anticipated by the market, with an 81% chance of a hike being priced in beforehand. The market’s year-end target rate fell from 4.36% to 4.26% following the decision. […]
Coinbase Under Fire. SEC Issues Wells Notice. As the initial quarter of 2023 reaches its end, we can safely say that Bitcoin has demonstrated exceptional performance and is on the brink of surpassing the $29,000 mark. After the Federal Reserve decided to increase interest rates by 25 bps on Wednesday, BTC encountered a decline, but […]
EUR/USD Floats Below 1.0700. Near-Perfect Triple Bottom. Amid banking disasters, mergers, and near-saves, the US Dollar is showing seesaw price action and is getting ready for the first Rate meeting since the Silicon Valley Bank debacle. The Fed is in a precarious position because inflation is still high but the banking crisis would be exacerbated […]
Bitcoin Breaks Through, Challenges 9-Month High Lately, the drama surrounding major banks has been wilder than a bull on roller skates, yet among all this, Bitcoin and altcoins are making serious gains, challenging previous highs. Silicon Valley Bank (SVB), which is (or was) basically royalty in the financial industry, was closed by the California Department […]
CPI Ahead: Here’s Why This Release Is More Important Than Ever. The banking industry just took another hit: Silicon Valley Bank (SVB) collapsed and sent waves of fear across the finance sector. The probability of a 25-bps rate hike is now 95.2%, while the probability of a pause is 4.8%, according to CME’s FEDWATCH tool. […]
Silvergate Liquidation, Extra Tax for Miners, KuCoin Lawsuit. Despite a stellar start to 2023, Bitcoin’s recovery is once again stifled by the collapse of a crypto giant: Silvergate announced voluntary liquidation. The crypto-friendly bank Silvergate announced earlier this month that it is facing financial difficulties and several of its partners were quick to cut ties. […]
EUR/USD Rebounds. Will Powell’s Testimony Reveal New Rate Clues? It’s Non-Farm Payrolls week and usually, this means that we should prepare for some interesting swings and potential surprises. The last NFP release came with a huge surprise as the actual number was more than double the forecast (517K vs. 193K). The release sparked speculation about […]
Bitcoin Sheds More Than $1,400 In One Hour. Where to Next? Just when we thought that the effects of the FTX catastrophe are starting to go away, it looks like another prominent crypto figure is making headlines. And not in a good way! Crypto-friendly bank Silvergate is facing financial troubles and several of its clients […]
The Greenback Prints New Highs, Reaches Key Support vs. the Euro. The Core PCE Price Index delivered yet another surprise last week by exceeding analysts’ forecast by a hefty margin, prompting the USD to drive higher. The currency markets are currently driven by expectations that the peak Federal Funds Rate will be higher than initially […]