Federal Reserve Financial News

cryptocurrency markets were trading mixed on Friday. Bitcoin, Dogecoin and Solana were trading with cuts, while BNB, XRP and Tron were trading with gains. Bitcoin (BTC) fell 1.91% to $28,074, whereas Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $19.14 billion, falling 17.89% in the last 24 hours. «Bitcoin was seen consolidating above the US$28,000 pivot level in the past 24 hours following a recent surge above the US$29,000 level. This consolidation could be due to the anticipation of the upcoming US GDP report,» Edul Patel, Co-founder and CEO at Mudrex, said. «There is a key bullish trend line forming with support near US$27,900. BTC’s immediate resistance now lies at the US$28,500 level and then US$ 28,850 zone. However, BTC has not yet acquired enough strength to make a sharp move but the key uptrend support remains intact,» Edul added.

Since May 2022, the Bitcoin (BTC) margin markets on the Bitfinex exchange have been plagued by an unusually high open interest of over $2.7 billion. This information alone should raise a red flag, especially in light of Bitcoin's price decline from $39,000 to less than $25,000 during the same period.

cryptocurrency markets were trading higher on Wednesday with a 3.7% increase in the global crypto market cap. Bitcoin (BTC) rose 3.86% to $28,101, while Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $19.07 billion, rising 2.97% in the last 24 hours. «Most cryptocurrencies rose in the past 24 hours following improved US Consumer Confidence in March. Bitcoin regained its position above the US$28,000 level. BTC has the potential to recover the US$30,000 level it lost during the June 2022 bear market. If BTC continues to stay above US$27,000 and attempts to take by storm the US$28,600, we might see it growing upward,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. XRP zoomed nearly 12%. Cardano, Polygon and Litecoin were also trading with gains. The global cryptocurrency market cap was trading lower around $1.18 trillion, rising 3.73% in the last 24 hours.

In this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub built on the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Ecosystem.

Regulation continues to be the primary concern for Bitcoin bulls, especially after the Commodity Futures Trading Commission (CFTC) sued Binance for trading and derivatives law violations. The regulator wants Binance to repay the trading profits, revenues, salaries, commissions, loans and fees it received from US citizens, as well as paying civil penalties for the violations.

The United States Federal Reserve has been “too heavy-handed” in taming inflation, said pro-Bitcoin (BTC) Tesla and Twitter CEO Elon Musk.

cryptocurrency markets were trading in the red on Tuesday. Bitcoin (BTC) fell 2.66% to $27,048, whereas Ethereum (ETH) was below the $1,750 level. BTC volume in the last 24 hours stood at approximately $18.55 billion, rising 26.88%. «The crypto market is feeling the pressure of CFTC action against Binance as BTC price has slipped around the $27,000 level which is a drop of nearly 3% in the last 24 hours. We can expect the market to remain choppy in the coming weeks owing to the latest developments,» Shivam Thakral, CEO of BuyUcoin, said. Other top crypto tokens were also trading lower. BNB declined over 5%. Dogecoin, Polygon and Litecoin were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.13 trillion, falling 1.96% in the last 24 hours.

The United States Senate Banking Committee held a hearing March 28 on the regulatory response to recent bank failures. Officials from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve and Treasury testified. FDIC chair Martin Gruenberg spoke about the causes of the failures of Silicon Valley Bank (SVB) and Signature Bank, including the role of digital assets, and the agency’s responses to the crisis.

cryptocurrency markets were trading mixed on Monday. Bitcoin, Tron and BNB were trading with gains, while Ethereum, Cardano and Litecoin were trading with cuts. Bitcoin (BTC) surged 1.16% to $27,832, whereas Ethereum (ETH) was below the $1,750 level. BTC volume in the last 24 hours stood at approximately $14.36 billion, rising 10.14% in the last 24 hours. «Bitcoin started the new week by consolidating above the US$27,000 support level. BTC started a downside correction after it failed to clear the US$28,000 resistance zone last week. However, bulls seem to be active near the US$27,000 support,» Edul Patel, Co-founder and CEO at Mudrex, said. «BTC’s immediate resistance now lies at the US$28,150 level. A close above this level may start another major increase. Meanwhile, on the other hand, Ethereum also continued to trade above the US$1,700 level,» he added.

After gaining 11% between March 16 and March 18, the total crypto market capitalization has been battling resistance at the $1.2 trillion level. This same level was reached on August 14, 2022 and was followed by a 19.7% decline to $960 billion over the next two weeks. During the lateralization period between March 20 and March 27, Bitcoin (BTC) gained 0.3%, while Ether (ETH) posted modest gains of 1.6%.

Bitcoin (BTC) enters the last week of March in uncertain territory as a strong weekly close still keeps $30,000 out of reach.

cryptocurrency markets were trading higher on Friday. Bitcoin (BTC) rose 2.21% to $28,262, whereas Ethereum (ETH) was above the $1,800 level. BTC volume in the last 24 hours stood at approximately $22.93 billion, falling 29.05% in the last 24 hours. «The crypto market reacted sharply to the interest rate hike announced by Fed in its latest FOMC meeting. Bitcoin was poised to test the $30,000 level but lost steam after Fed continued its hawkish stance to tame soaring inflation. Bitcoin recovered from the Fed shock today and is back above the $28,000 level, while Ethereum and other digital assets showed a similar upward trend,» Dhruvil Shah, SVP of Technology at Liminal, said. Other top crypto tokens were also trading higher on Friday. Litecoin surged over 8%. Dogecoin, XRP and Tron were also trading with gains. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 2.24% in the last 24 hours. The total volume in DeFi is currently 4.31 billion, 7.94% of the total crypto market 24-hour volume. The volume of all stablecoins is now $49.85 billion, which is 91.78% of the total crypto market 24-hour volume.

United States authorities are reportedly deliberating on extending an emergency credit line for banks, “in ways” which may provide First Republic Bank with a time buffer to address its balance sheet concerns, according to people with knowledge of the situation.

The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank's application for membership in January, including the bank's involvement in the crypto space. 

The United States’ most powerful financial regulators gathered March 24 by video conference for an unscheduled, closed meeting of the Treasury Department’s Financial Stability Oversight Council (FSOC), the department announced in a statement. Treasury Secretary Janet Yellen convened the meeting.

On March 23, Bitcoin (BTC) price recovered the $28,000 support after a brief correction below $27,000. The movement closely tracked the traditional financial sector, particularly the tech-heavy Nasdaq Index, which gained 2.1% as Bitcoin surpassed the $28,000 threshold.

As of March 22, the Fed's balance sheet surged by nearly $94.5 billion — a $297 billion increase from the last week when the banking crisis started.

cryptocurrency markets were trading in the red on Thursday after the Federal Reserve unveiled a ninth straight interest rate hike. Bitcoin (BTC) fell 1.88% to $27,698, whereas Ethereum (ETH) was below the $1,800 level. BTC volume in the last 24 hours stood at approximately $32.36 billion, down 6.07%. «The 25 basis point anticipated interest rate hike and the associated hawkish messaging from the US Fed created volatility in crypto markets with Bitcoin (BTC) dropping 3% overnight,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. «BTC enjoys good short-term support at $26,500-$26,900 levels and a strong base at $25,300. If BTC holds any of these levels in the next week, the rally can potentially continue as the rate-hike ripple settles down,» Subburaj added.

Bitcoin’s (BTC) 17.5% rally between March 16 and March 22 surprised options traders betting on price levels below $26,000. The movement resulted from investors seeking protection against persistent inflation and the ongoing banking crisis.

In this week’s episode of Market Talks, Cointelegraph welcomes Dave Weisberger, CEO and co-founder of CoinRoutes. Weisberger has over 35 years of experience in market structure, quantitative finance and trading automation. He started his career at Morgan Stanley where he built its first program and electronic trading systems. Weisberger is a strong economic freedom advocate and digital asset believer.

United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch.