Ethereum Price Plummets 9% As Fed Chair Passes Hawkish Remarks
The crypto community has witnessed another price plunge after the just concluded Federal Reserve annual meeting. Many investors already anticipated a new turn in asset prices after Jerome Powell spoke on the approach to combat inflation. But from the turn of events, Powell tipped the scale against investors’ expectations. As a result, many cryptocurrencies and equities have already started a downward price trend. Ethereum (ETH) and many other cryptocurrencies have lost some August 25 price gains. After the meeting, ETH’s price tanked 9% and stood at $1555. But the bears....
Related News
After spending more than two weeks trading in the mid-$90,000 range, Bitcoin (BTC) is starting to climb toward the psychologically significant $100,000 mark. The flagship cryptocurrency surged past $99,000 following dovish remarks from Atlanta Federal Reserve Bank (Fed) President Raphael Bostic. Bostic’s Dovish Remarks Propel Bitcoin Beyond $99,000 Recently, Federal Reserve Chair Jerome Powell’s hawkish […]
U.S. equities rallied following the FOMC’s 75 bps hike in interest rates, only to crash as Fed Chair Powell hinted at higher-than-expected terminal rates.
As the price of Ethereum picks up again, bullish sentiment among investors has improved. Large Ethereum investors are quietly increasing their exposure to the altcoin following the recent move above the $2,000 price level. Another development acting as a catalyst to this renewed confidence is the latest remarks from Tom Lee about the asset’s outlook. […]
In remarks made on December 4, US Securities and Exchange Commission (SEC) Chair Paul Atkins expressed an optimistic outlook for the cryptocurrency industry. Atkins emphasized the SEC’s intent to modernize its rules to facilitate an on-chain market environment, leveraging distributed ledger technology and the tokenization of financial assets. SEC Chair Advocates For Crypto Tokenization Atkins […]
Risk assets take a major blow as Fed Chair Jerome Powell stays firmly hawkish on inflation and monetary policy. Bitcoin (BTC) and altcoins lost big on Aug. 26 after the United States Federal Reserve delivered hawkish remarks on economic policy.Across the board, risk assets took a major hit — U.S. equities shed around $1.25 trillion in a single session.Analyst: Powell retiring "soft landing" rhetoricAs comments by Fed Chair, Jerome Powell, suggested that larger rate hikes were still firmly on the table despite recent data hinting that inflation was already slowing, investors rushed to cut....