County Jerome Financial News

Cleveland Federal Reserve President Loretta Mester said Wednesday she sees interest rates rising considerably higher before the central bank can ease off in its fight against inflation.

Bitcoin (BTC) price may climb by more than 50% in September, a month otherwise considered ominous for the cryptocurrency due to its poor historical returns. 

Bitcoin reclaiming the $20,000 mark, its major support and psychological level. Bitcoin fell below $20,000 on Sunday as part of a wider cryptocurrency-market retreat, amid concern about the Federal Reserve's rate-hike path, Reuters reported. Fed Chair Jerome Powell's speech at the Jackson Hole conference spooked the traders across the world of all riskier asset classes. Despite the recovery, the total market cap of the crypto space remained below the $1 trillion mark. The global cryptocurrency market cap was trading higher at the $980.62 billion mark, rising more than 3 per cent in the last 24 hours. However, the total trading volume dropped about 20 per cent to $64.88 billion.

New York Federal Reserve President John Williams said Tuesday he expects interest rates to continue higher and to remain at those levels until inflation is subdued.

The largest token was trading at 19,999 at 22.30 IST Sunday. That's after a two-day drop of 7.6%, moving in tandem with US stocks on Friday after Fed Chair Jerome Powell's speech at the Jackson Hole conference. The wider crypto market retreated Sunday, with the MVIS CryptoCompare Digital Assets 100 Index dropping 1% in its fourth straight day of declines. «Money is flowing out of risky assets. Crypto followed the sharp adjustment of the US stock market,» after Powell's remarks, said Cici Lu, CEO at Venn Link Partners. «Markets didn't like what he had to say and Bitcoin is resuming as a high-beta asset.» The $20,000 level acted as support for Bitcoin when it hit lows in recent months, but the cryptocurrency had worked its way higher in recent weeks. Before Saturday, it hadn't been below $20,000 since July 14, and had even crossed above $25,000 earlier in August.

Between 22 and 28 August,  Chainlink, the widely used oracle network, noted 14 integrations of four of its services across two chains, its latest adoption update revealed.

Out of the $123.13 million taken out of the cryptocurrency market in the last 24 hours, Bitcoin [BTC] liquidations within the same period totaled $25.30 million, data from Coinglass revealed. 

Federal Reserve Chairman Jerome Powell proclaimed Friday that the central bank has an «unconditional» responsibility for inflation and expressed confidence that it will «get the job done.»

Bitcoin had a rude awakening on Monday after its price briefly dropped below $20,000 (€20,017) following tough comments on interest rate hikes from the US Federal Reserve chief.

Bitcoin dropped below $20,000 on Monday as investors dumped risk assets after the Federal Reserve affirmed its commitment to an aggressive tightening path.

Bitcoin dips below $20,000 After Fed Chair says rate hikes in play on high inflation

While it is no news that the general cryptocurrency market struggles due to the downturn of the broader financial markets, some crypto-assets appear to have been dealt the worst hand. A look at SAND revealed the token as one of the most hit by the downturn over the past few days.

The United States equities markets plunged on Aug. 26 following Federal Reserve Chair Jerome Powell’s speech where he reiterated the central bank’s hawkish stance. Continuing its correlation with the equities market, Bitcoin (BTC) and the cryptocurrency markets also witnessed a sharp selloff on Aug. 26.

Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control.

Avalanche [AVAX] has reached another milestone recently despite the drawdown from Jerome Powell. Ava Labs executive Patrick Sutton confirmed that Avalanche has reached an all-time high in monthly transactions. In his tweet, Sutton confirmed that Avalanche completed 32.7 million transactions in August with seven days to spare.

Bitcoin dipped below $20,000 on Saturday, continuing a drop that has taken it down nearly 60% from its year high.

The wreckage has fallen again on Solana [SOL] as the crypto markets laboured in recent days. One of the primary reasons for the latest slaughter is Federal Reserve Chairman Jerome Powell’s latest speech. His remarks saw major cryptocurrencies lost their respective supports and seemingly SOL is one of the hardest-since assets right now.

The cryptocurrency market declined with the broader financial markets as of 26 August. This decline followed the hawkish remarks made by Federal Reserve Chair Jerome Powell at the Fed’s Jackson Hole, Wyoming economic conference on 26 August. 

Bitcoin (BTC) analysts were keen to draw fresh price targets on Aug. 27 after the largest cryptocurrency briefly fell below $20,000.

Bitcoin (BTC) and altcoins lost big on Aug. 26 after the United States Federal Reserve delivered hawkish remarks on economic policy.

Government-bond yields edged higher on Friday after Federal Reserve Chairman Jerome Powell said that signs of slowing inflation haven’t given the central bank the all-clear to ease its tough stance against rising prices.