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Markets

Bitcoin's Correlation to S&P 500 Hits 17-Month High

The 90-day correlation between the top cryptocurrency and the S&P 500 has risen to its highest level since October 2020.

Bitcoin's fortune appears closely tied to stocks. (Pixabay, modified by CoinDesk)

Markets

Fed Chair Powell’s Hawkish Stance on Inflation Could Hurt Crypto

Interest rate hikes could drive down crypto, especially because of its strong correlation with traditional financial markets, analysts say.

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during the National Association of Business Economics (NABE) economic policy conference in Washington, D.C, U.S., on Monday, March 21, 2022. The theme of this year's annual meeting is "Policy Options for Sustainable and Inclusive Growth." (Valerie Plesch/Bloomberg via Getty Images)

Markets

3 Reasons Bitcoin Is Staying Resilient to Powell's Hawkish Remarks

The inversion of the yield curve signals the Fed may compromise in the future, so it's a good sign in part, one trader said.

Bitcoin tops $43K even as Powell opens the doors for a 50 basis point rate hike. (CoinDesk, Highcharts.com)

Videos

CME Open Interest Suggests Downtrend Is Over

Federal Reserve Chariman Jerome Powell says the Fed will consider more aggressive rate hikes to tame inflation. The statement sent bitcoin trading in the red Monday along with traditional markets.

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Markets

Market Wrap: Bitcoin Pulls Back After Fed Chair's Comments; Volatility Oversold

Some traders expect greater price swings after month-end volatility selling.

U.S. Federal Reserve (Shutterstock)

Videos

Kazakhstan Mining Crackdown Affecting Bitcoin Hashrate

CoinDesk's Christie Harkin joins the “Week in Review” panel to discuss Kazakhstan’s efforts to repress illegal crypto mining operations, and how that has impacted the bitcoin hashrate. Plus, CoinDesk Market Analyst Damanick Dantes explains how the Fed interest rate hike has influenced bitcoin’s volatility. 

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Videos

Crypto Markets Brace for Global Rate Hikes

Hany Rashwan, 21Shares CEO and founder, shares his analysis on the current state of the crypto markets as macro factors, namely the interest rate hikes from U.S. Federal Reserve, Bank of England and Taiwan. Plus, a conversation on the ongoing regulatory issues of Ripple (XRP).

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Videos

Russian Bank Given Crypto License; China To Monitor Outflows

Russia’s sanctioned Sberbank obtains crypto license from central bank. China’s Weibo allows users to mint NFTs of their social media posts. China says it will closely monitor capital outflows following Fed hike, but what might that mean for the digital yuan?

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Finance

First Mover Americas: Bitcoin Downtrend Intact, Recession Fears May Weigh

The latest moves in crypto markets in context for March 18, 2022.

(Vladimir Kazakov/Getty images)

Videos

Bitcoin Holds Above $40K After Rate Hike, Showing Bullish Strength

BTC held above $40,000 Thursday amid a broader uptick in global equities after the Fed announced its 0.25% interest rate hike. Analysts say this is bullish strength, reflecting that long-term buyer interest has migrated from $30,000 to $38,000 due to inflation and geopolitical tensions.

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