Tag: rate

Bitcoin drifts into weekly close while Fed rate hike looms as next major BTC price trigger

[ad_1] Bitcoin (BTC) upped the volatility into the weekly close on March 13 as markets braced for geopolitical and macro economic cues. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Long-awaited Fed action set to come this week Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it again came close to testing $38,000 support during Sunday. The pair had seen a quiet end to the week on Wall Street, the weekend proving similarly calm as the status quo both within and outside crypto continued without surprises. Now, attention was already…

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Crypto investors hedging out risks ahead of March rate hike

[ad_1] On-chain data analysis from Glassnode shows that Bitcoin investors are hedging out risks in order to stay protected against Federal Reserve interest rate hikes in March. Glassnode’s The Week On-Chain newsletter from Feb. 14 indicates that the most significant trend in Bitcoin (BTC) right now is the flat futures term structure through March. This is strongly attributed to “investor uncertainty regarding the wider economic impact of a tighter US dollar.” The rate hike is already priced in to spot markets, according to Cointelegraph contributor Michaël van de Poppe, but…

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Precious Metals, Cryptocurrencies, Stock Markets Falter Following Powell’s Rate Hike Statements – Economics Bitcoin News

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[ad_1] Equities, crypto markets, and precious metals did well during the early morning trading sessions on Wednesday, just before the U.S. central bank wrapped up its Federal Open Market Committee (FOMC) meeting. While the Fed said in a statement that the benchmark interest rate would rise soon, the central bank’s lead Jerome Powell said the committee “is of a mind to raise the federal funds rate at the March meeting.” Powell’s statements following the meeting, alongside discussions of reducing the balance sheet, were viewed as hawkish among investors and global…

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Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for Miners – Mining Bitcoin News

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[ad_1] Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis Members Want Miners in Kazakhstan to Register With Government, Pay More for Power A group of deputies from the Mazhilis, the lower house of Kazakhstan’s bicameral legislature, have voiced concerns over the growing electricity demand. The parliamentarians believe the surge is due…

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Bitcoin Mining Hash Rate Free Fall

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[ad_1] The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. In last Thursday’s Daily Dive, we covered the hash ribbons indicator and what it meant for the price of bitcoin. Since that writeup, hash rate has fallen even more, and it seems that the exodus out of China is the catalyst. Since the beginning of May when hash rate was…

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Fed Expects 2 Rate Hikes in 2023, Stock Market Plunges, Powell Anticipates Higher Inflation – Economics Bitcoin News

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[ad_1] The Federal Reserve on Wednesday told the public that it has forwarded the time frame for raising interest rates. “Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” the Federal Open Market Committee (FOMC) said in a statement. The Meeting Before the ‘Meeting’ – Fed Expects Two Rate Hikes in 2023 After a number of market players waited for the Federal Reserve to reveal some signals, they got some on June 16, when…

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Hash Rate Bitcoin Price Dips

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[ad_1] Mimesis Capital: Inside The Event Horizon, Report #17 Why Hash Ribbons Predict Local Bitcoin Bottoms So Accurately Theory: When the bitcoin price hits a certain level, selling pressure starts to exponentially disappear. Bitcoin mining is a ruthless industry. Over the long run only the most efficient mining firms will survive. The tendency for the mining industry to attract large amounts of competition combined with simplicity and beauty of the Bitcoin protocol could give us a method to predict local “price floors” for bitcoin. Halvings Blockware Solutions, a bitcoin mining…

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Bitcoin funding rate flips negative after $48K retest — Was it a bear trap?

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[ad_1] As Bitcoin (BTC) lost the $52,000 support on April 22, the futures contracts funding rate entered negative terrain. This uncommon situation causes the shorts, investors betting on price downside, to pay fees every eight hours. While the rate itself is mildly damaging, this situation creates incentives for arbitrage desks and market makers to buy perpetual contracts (inverse swaps) while simultaneously selling the future monthly contracts. The cheaper it is for long-term leverage, the higher the incentives for bulls to open positions, creating a perfect “bear trap.” BTC-margined perpetual futures…

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