4 bearish factors for Bitcoin this week

The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar Bitcoin might give up some of its 2023 gains on a hawkish Fed All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening The Federal Reserve’s monetary policy decision is scheduled this week.

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Fed Completes First Test With Digital Dollar, Releases Results

In its New York subsidiary, the U.S. Federal Reserve (Fed) completed the first test of Project Cedar, the initiative testing a central bank digital currency (CBDC). The New York Innovation Center (NYIC) carried out this first phase and highlighted the potential for digital assets and blockchain technology to improve legacy payment rails. Related Reading: Twitter […]

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Bitcoin Price Eyes Fresh Upside Break After Fed Interest Rate Hike

Bitcoin price dipped a few points against the US Dollar after the fed rate hike. BTC remained supported and might eye a fresh increase above the $20,500 resistance. Bitcoin corrected further lower and tested the $20,000 support zone.

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Creation Of A CBDC Not Important For The Long-Term Status Of The US Dollar, Says Fed Board Member

Creating a US Central Bank Digital Currency (CBDC) before other major jurisdictions is not essential for the long-term status of the US Dollar. This is the personal opinion of Governor Christopher J.

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Goldman's Bullish Dollar Forecast Could Spell More Bad News for Bitcoin

Goldman Sachs strategist Kamakshya Trivedi doesn't expect the Fed to begin easing policy until 2024.

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Long-Term Status Of The US Dollar Not Dependent On Creation Of US CBDC, Says Fed Board Member

The long-term status of the US Dollar will not be affected even if other major jurisdictions adopted a Central Bank Digital Currency (CBDC) before a US CBDC. This is the personal opinion of Governor Christopher J.

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Digital Dollar May Not Happen Soon, Here's Why

Fed Governor Christopher Waller argues that there is no compelling reason to introduce a U.S. CBDC

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Fed governor Waller says US CBDC would not enhance things the world loves about US fiat

The U.S. and the world benefit from the primacy of the U.S. dollar in the world economy, but it is stablecoin, not a CBDC, that will enhance the fiat’s place, according to Waller.

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FED Governor: No Good Reason to Have a U.S. CBDC

Speaking at a security symposium at Harvard University, Fed Governor Christopher A. Waller maintains that the U.S. dollar can survive without a Central Bank Digital Currency (CBDC). The post FED Governor: No Good Reason to Have a U.S. CBDC appeared first on BeInCrypto.

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IMF’s Georgieva Warns Central Banks to Hoard Reserves, Follow Fed Hikes

The official's comments might be relevant to bitcoin traders, since the largest cryptocurrency's has proven to be correlated with the dollar's strength in foreign-exchange markets.

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Bitcoin Gains Momentum on Fed Pivot Narrative, but Some Banks Anticipate Dollar Rebound

Bitcoin rose above $20,000 soon before press time, extending Monday's "ISM-induced" gains as dollar continued to lose ground.

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TA: Bitcoin Price Could Take Major Hit After Fed Rate Hike

Bitcoin started another decline from the $19,500 resistance against the US Dollar. BTC is at risk of a sharp decline below the $18,500 and $18,000 levels. Bitcoin started another decline after the fed increased rates to 3.

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US Stablecoin Bill Negotiations Wrestled Over Digital Dollar Approval: Source

Democrats pushed for a provision directing the U.S. Federal Reserve to move forward on a digital dollar, but the negotiations concluded with a new directive for another Fed study in this year’s ongoing legislative effort to regulate stablecoins, according to a person familiar with the talks.

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Bitcoin 'nuke' warning as Fed rate hike decision looms — Dollar index hits 20-year high

Polls suggest that the Fed is likely to raise rates by 75 basis points as Bitcoin price clings to $19,000.

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Pundit Predicts Strong Recovery For Bitcoin As The Fed Pumps Brakes On The Dollar

After plummeting for nearly a year, Bitcoin could soon find a bottom as the Fed turns its attention to suppressing the dollar's ascent.

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Republican lawmakers call for answers on digital dollar from Fed vice chair

The House members asked for clarification on whether the Fed may be considering an “intermediated model” for a digital dollar that could require authorization from Congress.

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House Republicans Want Answers From Fed on Digital Dollar

Rep. Patrick McHenry and others from the House Financial Services Committee sent a letter demanding clarity from Fed Vice Chair Lael Brainard on the topic.

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Market Wrap: Bitcoin Inches Higher but Sluggish Volume Shows Reluctance to Invest

While BTC technical indicators are signaling traders to buy, Fed actions and the strength of the U.S. dollar suggest that traders should wait. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today's crypto markets.

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CryptoSlate Wrapped Daily: Fed’s Powell hawkish on inflation as BTC tumbles, Taliban ban crypto

The biggest news in the cryptosphere for August 26 includes Federal Reserve Chairman Jerome Powell’s indication that recovery from the burgeoning inflation levels is still far from being done, and another stablecoin losing its peg from the United States Dollar as the bear market continues.

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CoinShares: A dovish Fed and weaker dollar could benefit Bitcoin

Bitcoin (BTC) is likely to outperform in the face of a dovish flip from…

The post CoinShares: A dovish Fed and weaker dollar could benefit Bitcoin appeared first on CoinJournal.

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TA: Bitcoin Price Restarts Increase After Fed Rate Hike But Resistance Intact

Bitcoin started a fresh increase above the $22,000 resistance zone against the US Dollar. BTC must clear $23,000 and $23,700 to continue higher. Bitcoin started a fresh increase after the fed hiked interest rates by 75bps.

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The FED Measures Inflation In Bitcoin Terms, Tries To Fool The General Public

The tables have turned. The FED concedes defeat and acknowledges bitcoin. Of course, they twist both numbers and words to try to make it seem like the dollar is the better money, but we all know what’s going on.

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BTC price rejects at $23K as US dollar declines from fresh 20-year highs

The Fed rate hike does not offer much relief as a downtrend in stocks resumes, dragging Bitcoin with it.

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Circle’s Disparte Calls CBDCs ‘a Preposterous Idea’ in Digital Dollar Debate

You know it’s going to be a fiery conversation when one of the panelists says “F**k the Fed” in his opening statement.

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Fed forgets long-term dollar devaluation when pricing eggs in BTC

The U.S. Federal Reserve has released a blog post showing the instability of Bitcoin against the U.S. dollar when buying eggs, however, the crypto community was quick to point out the reality of the situation.

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US Fed Vice Chair Says Digital Dollar Would Take 5 Years to Launch

The Federal Reserve’s Lael Brainard says it will take years to build a U.S. CBDC and that the project can only start once Congress and the White House sign off.

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Circle Asks US Fed Not to Step on Its Toes by Launching a Digital Dollar

Circle Internet Financial weighs in to give a crypto industry view that the U.S. Federal Reserve should pass on launching its own digital dollar, arguing that it could strangle private-sector efforts such as Circle’s to manage their own dollar-based tokens.

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Wall Street Says a Fed Digital Dollar Spells Destruction for Banks

Wall Street bankers are arguing that the Federal Reserve launching its own digital dollar could crack the foundations of banking as we know it, according to letters that industry lobbyists sent to the U.S. central bank.

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Dollar Touches Trend Line That Brings The Best Bitcoin ROI

Bitcoin price is still in a short-term downtrend. Meanwhile, the dollar has gone completely parabolic in the face of Fed monetary policy tightening and record-setting inflation numbers. The spike in the DXY has reached the 103 level and at the same time touched a trend line that has in the past kicked off some of […]

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Timing A Dollar (DXY) Trend Reversal And Its Impact On Bitcoin

The DXY Dollar Currency Index is above the 100 level for the first time since the pandemic struck and lax monetary policy sent Bitcoin — and inflation rates — soaring.  When or will the trend weaken, and what might continued strength or sudden reversal mean for Bitcoin and the rest of crypto? Fed Rate Hike […]

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Bitcoin Plunges to $40K as Dollar Rallies

The Bitcoin price is struggling to recover after the Fed entered an aggressive tightening cycle

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Bitcoin Holds Above $40K After Fed Hike, Avalanche’s AVAX Leads Gains Among Crypto Majors

Demand for bitcoin was supported by the strengthening of stock indices and the weakening of the dollar, analysts said.

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Bitcoin Drops for Third Straight Day as Dollar Hits 21-Month High, US Wages Eyed

A continued uptick in wages would imply more inflation and strengthen the case for rate hikes by the Fed.

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Fed's Lael Brainard hints at US playing a lead role in development of CBDCs

“A U. S. CBDC may be one potential way to ensure that people around the world who use the dollar can continue to rely on the strength and safety of U.

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Boston Fed and MIT release the first results of their CBDC research

Dubbed Project Hamilton, exploratory research between the Federal Reserve of Boston and the Massachusetts Institute of Technology’s (MIT) released the first round of results in modeling a digital dollar.

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The Fed’s proposed CBDC: a dystopian nightmare or a necessary evolution of the dollar?

The United States Federal Reserve has taken its first step towards issuing a central bank digital currency (CBDC). The post The Fed’s proposed CBDC: a dystopian nightmare or a necessary evolution of the dollar? appeared first on CryptoSlate.

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Here's why the Fed isn't very optimistic about a U.S dollar CBDC despite benefits

After being in the pipeline for quite some time, the U. S Federal Reserve's white paper on the development of central bank digital currency (CBDC) was finally released on Thursday. The Fed has stateThe post Here's why the Fed isn't very optimistic about a U.

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Does a Fed digital dollar leave any room for crypto stablecoins?

Could stablecoins be undone by a Federal Reserve that takes consumer deposits? Would retail banks be hobbled?

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Fed issues discussion paper on benefits and risks of a digital dollar

"The Federal Reserve would only pursue a CBDC in the context of broad public and cross-governmental support," said the recently published paper.

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Key Highlights from Fed's Report on Digital Dollar

The Fed says that a US CBDC might help preserve the dollar’s hegemony

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US lawmaker proposes bill aimed at limiting Fed's ability to issue CBDC

Having the Fed require users to open accounts to access the benefits of a digital dollar would put it "on an insidious path akin to China’s digital authoritarianism," according to Tom Emmer.

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Crypto and Fed digital dollar can coexist, says Fed Chair Jerome Powell

Powell says nothing would prevent a well-regulated stablecoin from coexisting with a US CBDC.… The post Crypto and Fed digital dollar can coexist, says Fed Chair Jerome Powell appeared first on Coin Journal.

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Bitcoin’s Correlation With The Tech-Heavy Nasdaq and S&P 500 Hits A Multi-Month Low

Meanwhile, the dollar is surging as the Fed turns hawkish, which is not a good look for Bitcoin as it historically has a negative correlation with the DXY index. The post Bitcoin’s Correlation With The Tech-Heavy Nasdaq and S&P 500 Hits A Multi-Month Low first appeared on BitcoinExchangeGuide.

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Bullish Week: Overwhelming Bitcoin Buying Sends OI to May Level While Net Dollar Longs Are Surging

Traders are net-long on the US dollar for 12 straight weeks thanks to the Fed suggesting a possible tapering next month. Meanwhile, bitcoin adoption as legal tender is expected to grow even more strongly in the coming years.

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Fed Launching Digital Dollar Review This Week, Hong Kong’s Central Bank Publishes Technical Whitepaper on Retail CBDC

Meanwhile, Bank of Japan Governor Haruhiko Kuroda showed concerns towards stablecoins which are “closely linked to the central bank currency,” as they could have “some impact on the financial system.

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Digital dollar advocate will retire as Dallas Fed president

At a November 2020 virtual conference, Rob Kaplan said "it is critical that the Fed focuses on developing a digital currency in the coming months and years."

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Cleveland Fed President Supports Tapering in November and is “Open Minded” about a Digital Dollar

Cleveland Federal Reserve President Loretta Mester said Friday she supports the US central bank to start tapering its bond purchases at the next monetary policy meeting. Mester during a speech to the Ohio Bankers League said, “In my view, the economy has met those conditions, and I support starting to dial back our purchases in […] The post Cleveland Fed President Supports Tapering in November and is “Open Minded” about a Digital Dollar first appeared on BitcoinExchangeGuide.

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US Fed on Digital Dollar - 'More important to do this right than to do it fast'

Countries around the world are scrambling to launch their CBDC projects as cryptocurrencies continue to become part and parcel of the financial system. The United States Federal Reserve seems to be inThe post US Fed on Digital Dollar - 'More important to do this right than to do it fast' appeared first on AMBCrypto.

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Fed still undecided about digital dollar, says Chair Jerome Powell

Fed Chair Jerome Powell says there is no pressure to rush any central bank digital currency development plans.

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