Bitcoin neared the $19,000 level after central bankers renewed inflation warnings on Wednesday at the European Central Bank’s (ECB) annual forum. By shauryamalwa
Bitcoin fell toward the $19,000 level in Asian afternoon hours after central bankers renewed inflation warnings at the European Central Bank’s annual forum on Wednesday.
The asset dropped 5.5% in the past 24 hours, and is on track for a record 40% monthly decline. Other large cryptocurrencies also weakened, with ether notching a 9.9% 24-hour drop and Solana’s SOL falling as much as 11%. Total cryptocurrency market capitalization lost 4.3%.Federal Reserve Chairman Jerome Powell reiterated the Fed's commitment to increasing interest rates to curtail inflation.
“Is there a risk we would go too far? Certainly, there’s a risk,” Powell said. “The bigger mistake to make – let’s put it that way – would be to fail to restore price stability.” Powell said the Fed had to raise rates rapidly, Reuters reported, adding that a gradual increase could cause consumers to feel that higher prices of commodities would persist. About a week ago, his commentsU.S. equity market futures fell following Powell’s comments, with S&P 500 futures losing 1.59% and those on the tech-heavy Nasdaq 100 falling 1.9%. Asian markets were in the red with Japan’s Nikkei 225 losing 1.54% and the Asian-focused index Asia Dow losing 1.14%.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
US inflation expectations drop to the lowest levels since FebruaryUS inflation expectations, as per the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, print a two-day south-run to ref
Consulte Mais informação »
Bitcoin holds $20K as ECB warns inflation may never return to pre-COVID lowsInflation could be permanently higher, says the ECB as Bitcoin and BTC price action stay muted.
Consulte Mais informação »
Fed's Bullard: Essay on need to stay ahead of inflationSt. Louis Fed President James Bullard said in an essay written on Tuesday that lessons from 1974 and 1983, when the Federal Open Market Committee face
Consulte Mais informação »
Fed's Daly: Inflation bridles the economyReuters has reported that San Francisco Federal Reserve Bank President Mary Daly on Tuesday said she believes the US economy will slow to below 2% ann
Consulte Mais informação »
Bitcoin price drops 3% to ten-day lows as Ethereum inches close to $1KBTC price drops 3% in just one hour with $20,000 now overhead for Bitcoin bulls.
Consulte Mais informação »
Gold Price Forecast: XAU/USD bears eye $1,800 ahead of Fed’s preferred inflation dataGold Price (XAU/USD) licks its wounds around the intraday low of $1,815 as traders await the key US data during early Thursday morning in Europe. Even
Consulte Mais informação »