25.2 C
Friday, April 12, 2024
Home News Updates Bitcoin Falls to Below $40,000 as Wall Street in ‘Full De-Risking Mode’

Bitcoin Falls to Below $40,000 as Wall Street in ‘Full De-Risking Mode’

He said the outlook for Bitcoin remains “mostly bullish” but added that if “long-term growth prospects start taking a bigger hit from aggressive [Federal Reserve] tightening, institutional investors might scale down their bets.”

Analysts at Fundstrat agreed that tensions between Russia and Ukraine were “driving increased selling pressure” across crypto markets, and Yuya Hasegawa, an analyst at Bitbank, said the situation at the Ukraine border “can make or break Bitcoin’s price.” Hasegawa also pointed to the possibility of a rate hike of 50 basis points at the Fed’s next meeting in March.

The minutes from the Federal Reserve’s meeting in January, released Wednesday, showed that officials are open to the possibility of faster interest-rate increases later this year, as well as other policy-tightening measures, if inflation continues to run high.

During the central bank’s Jan. 25-26 meeting, Fed Chairman Jerome Powell reinforced expectations the Fed would begin raising interest rates in March. While Fed officials expect inflation to moderate throughout 2022, more aggressive action might be needed if prices don’t move lower.


Please enter your comment!
Please enter your name here

Most Popular

President William Ruto Signed Four Universal Health Coverage (UHC) Bills Into Law.

The four bills include the Primary Health Care Bill, Facility Improvement Financing Bill, Digital Health Bill and the Social Health Insurance Bill. The Primary Health...

Tanzanians Flee The War In Israel And Return Home

9 Tanzanians who were in Israel have returned home today October 18, 2023 and were received by the Deputy Minister of Foreign Affairs and...

Israeli President Herzog Slams BBC’s For Refusing To Call Hamas Terrorists During Talks With Rishi Sunak

Israeli President Isaac Herzog slammed the BBC for what he said was a 'distortion of the facts' over its reporting on Hamas during a meeting with British Prime Minister Rishi Sunak...

Watch Videos And Subscribe On Our Channel Special4uTV

https://www.youtube.com/@Special4uTV https://youtu.be/-iwDgQHEGBw   https://www.youtube.com/watch?v=Lz7hbB6xhfc      

Recent Comments