On Wednesday, there was a distinct stumbling-near-the-finish-line quality to the crypto market. Although the Federal Reserve's rate cut announced that day was welcome, if expected, speculation about future slices wasn't as encouraging. Bitcoin (CRYPTO: BTC), which vaulted above the $100,000 price level recently and seems determined to stay there, nevertheless was down by almost 5% as of 4 p.m. ET.
The Fed cutting interest rates less than expected in 2025 will still be bullish for stocks, according to Fundstrat's Tom Lee.
Financial market commentator Peter Schiff on Tuesday criticized Michael Saylor’s comparison of MicroStrategy Inc.‘s (NASDAQ:MSTR) debt-financed Bitcoin (CRYPTO: BTC) buying strategy to Manhattan real estate. What Happened: In an X post, Schiff disagreed with Saylor’s analogy. “Real estate generates rents, which can be used to service and repay debt. Bitcoin doesn’t generate any income to make interest or principal payments,” he argued. It's wrong for @saylor to compare his leveraged buying of #B
Bitcoin's price dipped Wednesday after Federal Reserve Chairman Jerome Powell said the central bank is not looking to hold the cryptocurrency.
Markets are pricing in a 95% chance the Fed will cut rates 25 basis points at their December policy meeting. The outlook in 2025 is less certain.
(Bloomberg) -- The worst Treasuries selloff since 2013 on a Federal Reserve meeting date is likely to prove short-lived, according to a survey of Bloomberg Terminal subscribers.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousBenchmark 10-year Treasuries will yield 4.4% at the time of the central bank’s March gathering, from about 4.51% now, according to the median of 81 responses in a Markets Live Pulse survey. The poll was conducted Wednesday after policym
Stocks eyed a rebound Wednesday, with the blue-chip Dow looking to snap its longest losing streak since 1978
NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. "We're not allowed to own bitcoin," Powell said at a press conference following the Fed's latest two-day policy meeting, in which policymakers cut rates as expected while signaling a less certain path for monetary policy in the months ahead. In terms of the legal issues around holding bitcoin, "that's the kind of thing for Congress to consider, but we are not looking for a law change at the Fed," Powell said.
(Bloomberg) -- The Federal Reserve did what markets expected Wednesday. But that didn’t stop investors from dumping risk assets in droves.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousStock sold off violently at the end of the session after the Fed cut interest rates by a quarter of a percentage point, its third straight reduction, and Chair Jerome Powell indicated that the central bank will likely put further reductions on hold while inflation stays abov
