Economy


Markets

Bitcoin Holds Support Ahead of Fed Minutes, March Rate Hike Probability Rises

The Fed’s asset purchase program is set to end in March.

Bitcoin holds range support ahead of Fed minutes (TradingView)

Markets

Volatility Ruled Crypto Markets in 2021, From $69K Bitcoin to Elon Musk’s ‘Dogecoin to the Moooonn’

NFTs exploded, Coinbase stock went public, El Salvador bought the dip and China cracked down on bitcoin miners, while Solana’s SOL tokens and Polygon’s MATIC shot up by multiples of 90 or more. Here’s how crypto traders played it.

Tesla CEO Elon Musk (Getty Images, modified by CoinDesk)

Markets

Fed Speeds Up Stimulus Withdrawal, and Bitcoin Jumps

The Fed will reduce its bond purchases by $30 billion every month to wind them down early next year, doubling from the current pace of withdrawal of $15 billion every month.

Federal Reserve Chair Jerome Powell speaks Wednesday at a press conference. (Federal Reserve, modified by CoinDesk)

Markets

US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls

Prices for bitcoin, seen by a growing number of investors as a hedge against inflation, jumped 2% after the CPI report from the U.S. Department of Labor’s Bureau of Labor Statistics.

Consumer Price Index Report (CPI report) data shows fast rise in inflation. (Bureau of Labor Statistics)

Markets

Market Wrap: Bitcoin Extends Losses While Traders Remain Bullish on Ether

Weekly returns were mixed as some altcoins outperformed. Meanwhile, macro headwinds could cause investors to reduce exposure to speculative assets next year.

Bitcoin 24 hour price chart (CoinDesk)

Markets

Bitcoin Turns Lower as Fed Chair Suggests Inflation No Longer ‘Transitory’

Federal Reserve Chair Jerome Powell’s turnabout suggests the U.S. central bank might move more quickly to tighten monetary policy – potentially a negative for speculative assets including bitcoin.

Federal Reserve Chair Jerome Powell testifies Tuesday before the U.S. Senate Banking Committee. (C-Span)

Markets

Bitcoin Slips to $55K as Renewed COVID Concerns Jolt Traditional Markets

The cryptocurrency appeared set for a breakout above $60,000 after Thursday’s rise, but COVID fears played spoilsport.

Bitcoin drops below $58,000 on Nov. 26 amid growing covid fears (CoinDesk, highcharts.com)

Markets

Biden to Renominate Powell as Fed Chair and Appoint Brainard as Vice Chair

The president cites Powell’s stewardship of the economy during the pandemic.

Fed Chair Jerome Powell speaks Wednesday at a virtual press conference. (Federal Reserve, modified by CoinDesk)