Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
posted its biggest single-day gain in nearly two months on Wednesday as weak U.S. economic data raised the probability that the Federal Reserve will join its advanced nation peers in easing monetary policy with rate cuts over the summer months.
According to data sources TradingView and CoinDesk, the leading cryptocurrency by market value rose over 7.5% to $66,250, the largest percentage rise since March 20. Like other risk assets, BTC is sensitive to expected changes in the monetary policy stance of major central banks and rallies when the cost of borrowing fiat money is forecast to decline.less than consensus estimates in April, signaling a renewed downward shift in the cost of living in the world’s largest economy.
Prospects for liquidity easing over Summer should support equities, giving investors adequate confidence"to remain further out on the risk curve,"in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Markets Week Ahead: Markets Risk-On, BoE Decision, Gold, Nasdaq, BitcoinRisk markets regained all their early losses this week and continue to press higher. A benign FOMC and a weak US Jobs Report boosted markets going into the weekend.
Read more »
Smart Bitcoin Statement Issued by Michael Saylor as BTC Dumps 4.15%Prominent Bitcoin advocate Saylor has made smart Bitcoin statement, addressing his X community
Read more »
Roger Ver Arrest Major Statement Made by Samson MowBitcoin maximalist Samson Mow has shared his take on recent arrest of Bitcoin OG Roger Ver
Read more »
Australia and Japan markets slip as Fed decision looms, most Asian markets closedMost markets in the region are closed for the Labor Day holiday, except Australia and Japan
Read more »
Australia and Japan markets set to slip as Fed decision looms, most Asian markets closedMost markets in the region are closed for the Labor Day holiday, except Australia and Japan
Read more »
Australia and Japan markets set to slip as Fed decision looms, most Asian markets closedMost markets in the region are closed for the Labor Day holiday, except Australia and Japan
Read more »