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There’s no room for slacking when it comes to monetary policy tightening, Powell says, as Bitcoin takes a breather from yearly highs. Bitcoin (BTC) staged another retest of $30,000 support on June 28 as the United States Federal Reserve stayed hawkish on inflation. BTC/USD 1-hour chart. Source: TradingView Powell on rate hikes: “More restriction coming” Data from Cointelegraph Markets Pro and TradingView showed BTC price action sticking to a narrow range at the Wall Street open. This accompanied fresh comments on economic policy from Fed Chair Jerome Powell. Speaking during a two-day discussion with other central bank heads at the European Central Bank Forum on Central Banking 2023 in Sintra, Portugal, Powell reiterated Fed consensus for further interest rate hikes this year. Having paused the hiking cycle, which began in late 2021, this month, Powell nonetheless stressed that there was still room for further policy tightening. “Really, policy hasn’t been restricted for very long,” ...

BTC’s rally to $29,400 comes as the all important CPI report releases on April 12 and traders debate whether the Federal Reserve will pivot. Bitcoin (BTC) rose to its highest level in ten months on April 10 as traders await this week's April 12 consumer price index report to gain deeper insight into the Federal Reserve's fight against sticky inflation. If the report shows inflation dropping, it could be the next possible catalyst that further's BTC's upward move.  On April 10, BTC price soared 3.37% to over $29,300 after a quiet Easter weekend. Interestingly, Bitcoin's intraday gains appeared alongside a drop in U.S. equities, a rare decoupling that highlights the coin's diminishing risk-on characteristics. BTC/USD year-to-date returns versus U.S. stock indexes. Source: TradingView The pre-CPI dynamic could be in effect The Bureau of Labor Statistics will release March consumer price index (CPI) data on April 12, which expects to show Inflation down to 5.1% fr...

Ether has broken the $1,900 resistance level for the first time in months and is currently sitting above $1,911. Ether (ETH) has breached $1,900 for the first time in over seven months, a week before Staking withdrawals are enabled in the next major update for the second-largest cryptocurrency by market capitalization. CoinMarketCap data shows the last time Ether was over $1,900 was on Aug. 16, 2022, amid a broader crypto sell-off at a time when the United States Federal Reserve was hiking the Federal Funds rate at a record pace to combat inflation. The Ethereum Shanghai hard fork, set to occur on April 12, will implement EIP-4895 — allowing validators and stakers to withdraw staked ETH from the beacon chain — in addition to other EIPs which aim to help increase transaction speeds while reducing transaction costs. Alright, let's talk about the Ethereum Shanghai Upgrade! It's a hard fork scheduled to occur in March 2023. Stakers and validators will be able to withdraw staked ET...

$675 million in BTC options are set to expire on Feb. 17, but bears could aim to take control by pushing Bitcoin price below $22,000. While the U.S. Federal Reserve (FED) continues to monitor the overheated economy, the most likely scenario is further interest rate hikes to curb inflation. The unintended consequence is the heightened government debt cost, creating a bullish environment for scarce assets such as commodities, stock market and cryptocurrencies. Bitcoin’s price gain practically extinguished bears expectation for a sub-$21,500 options expiry on Feb. 17, so their bets are unlikely to pay off as the deadline approaches. Bitcoin investors' primary concern is the possibility of further impacts from regulators following the staking rewards program by the Kraken exchange being halted by the U.S. Securities and Exchange Commission on Feb. 9 and the crackdown on Binance USD (BUSD) stablecoin issuing on Feb. 13. Even if the newsflow remains negative, bulls still can profit in ...