| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $29365 | 0.80% |
| ETHEREUM | $1872 | 1.02% |
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.23 T | 1.40% |
| TRADING VOLUME | $39.00 B | 16.42% |
| Indices | LTP | Change (%) |
|---|---|---|
| Xfinance | $46.53 | 3648.60% |
| DOEX | $0.00055 | 541.57% |
| Sifchain | $0.00027 | 247.15% |
| YOLOCash | $0.00100 | 123.29% |
| Bounce | $11.96 | 98.57% |
| Indices | LTP | Change (%) |
|---|---|---|
| Hector Network | $0.033 | 99.00% |
| CVNX | $0.0018 | 56.28% |
| BotPlanet | $0.00028 | 43.59% |
| Aion | $0.0043 | 42.88% |
| Gloden Ball | $0.0000031 | 39.70% |
Bitcoin and Ether rise post Fed's anticipated rate hike.
On Thursday morning in Asia, Bitcoin experienced some gains, although it fell short of breaking through the resistance level at $29,500. The reason for this restrained performance was the Federal Reserve's anticipated quarter-point increase in interest rates. Additionally, the central bank indicated the possibility of another rate hike in September. Concurrently, Ether and the majority of the top 10 cryptocurrencies also saw an upward movement in their prices.
Major Events Around the World
Federal Reserve Chair Jerome Powell addressed the press after a Federal Reserve meeting, expressing his views on the current state of the US economy and the outlook for the coming months. He emphasized that achieving the central bank's inflation containment goal of 2 per cent still requires substantial progress. Powell remarked that the complete impact of the ongoing monetary policy tightening on the economy is yet to be fully observed.
The United States House Financial Services Committee has made significant progress by passing two crypto regulatory bills. These bills aim to bring much-needed clarity to the cryptocurrency industry, particularly in defining the jurisdictional boundaries between the US securities and commodities regulators. This development marks a significant step towards establishing a more defined regulatory framework for crypto firms operating in the United States.
On Wednesday, the U.S. House Financial Services Committee conducted a pivotal markup of legislation, aimed at establishing definitive regulations for the digital asset industry within the country. During the opening remarks, the committee chair focused on key aspects of the proposed regulations, including crypto regulations, market structure, and the Howey Test. This move signifies a significant effort by the committee to bring clarity and transparency to the rapidly evolving digital asset sector in the United States.
COIN GABBAR Views: What impact will the FED decision have on the Crypto market? Will BTC reach a new yearly high or face a collapse? Stay tuned for the latest news at www.coingabbar.com
Also read: Japan Firms To Reveal Metaverse Projects: Know Why
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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