Federal Reserve Financial News

Bitcoin (BTC) price broke above $29,800 on April 26, totaling 9.6% gains in 24 hours, reaching as high as $30,024 on Bitstamp. Some commentators argue that the 50% drop in First Republic Bank (FRB) shares on April 25 has been the catalyst for Bitcoin’s rally.

The New York Federal Reserve published new rules for counterparties looking to use its money market balancer, casting uncertainty over intentions by stablecoin issuer Circle to use the Fed's systems.

The United States Treasury and a number of top U.S. financial regulators suggested new rules to make it easier for the Federal Reserve to designate nonbank institutions as systemically important, making it easier to supervise and regulate them.

United States Federal Reserve Board governor Michelle Bowman spoke at Georgetown University on April 18 to “offer a perspective” on central bank digital currency (CBDC). The Fed plays an important role in the conversation about CBDC, Bowman said. Her examination of the problems a CBDC might solve and the design and policy issues it entails showed little enthusiasm.

Bitcoin (BTC) price rallied over 10% between April 9 and April 14, marking the highest daily close in more than ten months. While some analysts may argue the move justifies a degree of decoupling from traditional markets, both the S&P 500 and gold are near their highest levels in over six months.

The show Macro Markets, hosted by crypto analyst Marcel Pechman, which airs every Friday on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity.

Bitcoin (BTC) price maintained the $30,000 support as lower-than-expected U.S. Consumer Price Index (CPI) data released on April 12. The official inflation rate for March increased 5% year on year, which was slightly less than the 5.1% consensus. It was the lowest reading since May 2021, but is still significantly higher than the Federal Reserve's 2% target.

Bitcoin (BTC) traced $30,000 on April 12 as looming United States macroeconomic data heightened nerves.

Bitcoin (BTC) price has finally broken the $30,000 level after the key price zone lasted as a ten months resistance level. BTC price rallied 6.5% on April 10 and the much-awaited price gain ended an agonizing 12-day period of extremely low volatility, which saw the price hovering close to $28,200. Bulls are now confident that the bear market has officially ended, especially considering the fact that BTC price has gained 82% year-to-date.

cryptocurrency markets were trading higher on Monday. Bitcoin (BTC) rose 1.37% to $28,300, whereas Ethereum (ETH) was above the $1,850 level. BTC volume in the last 24 hours stood at approximately $12.43 billion, rising 30.14% in the last 24 hours. «Most cryptocurrencies rose over the weekend as markets reacted to the non-farm payrolls report, which showed that 236,000 jobs were added to the U.S. economy last month. Bitcoin was back above the US$28,000 level,» Edul Patel, Co-founder and CEO at Mudrex, said. «BTC's support now lies at US$27,900, while the resistance lies at US$29,200. On the other hand, Ethereum is attempting to move towards the US$1,900 level and is currently trading flat at the US$1,850 level ahead of the Shanghai update scheduled for April 12th,» Edul added. Other top crypto tokens were also trading higher. BNB, Dogecoin, Solana and Shiba Inu rose up to 2%. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 0.85% in the last 24 hours.

Presidential hopefuls Robert F. Kennedy Jr. (RFK Jr.) and Ron DeSantis are rallying against the Federal Reserve’s FedNow payments system claiming it would pave the way for a Central Bank Digital Currency (CBDC).

Bitcoin (BTC) rose to its highest level in ten months on April 10 as traders await this week's April 12 consumer price index report to gain deeper insight into the Federal Reserve's fight against sticky inflation. If the report shows inflation dropping, it could be the next possible catalyst that further's BTC's upward move. 

Despite regulatory pressure and worsening macroeconomic conditions, Bitcoin (BTC) demonstrated bullishness holding near $28,000 for the past week. Furthermore, professional traders have maintained leveraged long positions on margin and in futures markets, indicating strength.

Bitcoin (BTC) could rally toward $50,000 in 2023, according to a historical price fractal highlighted by popular market analyst Mags.

Bitcoin (BTC) showed little interest in moving higher at the April 7 Wall Street open as fresh United States macro data boosted bets on further interest rate hikes.

Bitcoin's (BTC) 43% rally between March 10 and March 20 surprised options traders and this is proven by the minimal14% of the $1.12 billion open interest set to expire on April 7 being placed at $28,000 and higher. 

Robert F. Kennedy Jr. filed documents with the United States Federal Election Commission on April 5 to run as a Democratic presidential candidate in 2024, according to multiple news reports. He is expected to officially announce his candidacy on April 19 in Boston, Massachusetts. As reports of his candidacy spread, Kennedy tweeted his position on central bank digital currency (CBDC).

On April 4, the U.S. dollar index (DXY), which measures the greenback's performance versus the basket of six leading foreign currencies, dropped by 0.5% after demand for workers in the world's largest economy declined.

Ether (ETH) has breached $1,900 for the first time in over seven months, a week before staking withdrawals are enabled in the next major update for the second-largest cryptocurrency by market capitalization.

Bitcoin (BTC) might have shown strength after successfully defending the $28,000 support amid unfounded rumors regarding Binance, but an interesting development to note is BTC is becoming less correlated to traditional markets after the U.S. Federal Reserve elected to provide emergency liquidity to banks. 

The United States Federal Reserve began its most aggressive quantitative tightening efforts in March 2022, raising benchmark interest rates in the year since from near-zero to 4.75% to 5% annually. While the central bank has successfully brought down inflation to some degree, the increasing interest rates are starting to cause cracks in the global banking industry.