Bitcoin Price Stuck at $41K as Traders Eye Fed Rate’s Decision
As the crypto market braces for the Federal Reserve’s decision, traders are showing caution, evidenced by a 40% drop in trading volume over the last 24 hours.
As the crypto market braces for the Federal Reserve’s decision, traders are showing caution, evidenced by a 40% drop in trading volume over the last 24 hours.
Investors will be eyeing major announcements ahead this week such as jobs report, Federal Reserve rate decision, and Apple’s earnings.
US equity market remains upbeat and optimistic ahead of the CPI data release for the month of July 2023.
After a strong rally in growth stock and other tech companies, analysts are advising investors for a sectorial rotation to defensive stocks.
The DIJA rally is going strong and withstanding pressure from sentiments surrounding the Fed’s increase in interest rates.
Technology stock popped up on Wednesday with easing yields. Analysts still expect the Federal Reserve to proceed with a rate hike later this month.
In other SVB-related news, the Financial Group, which was the holding company of SVB, is exploring ways to sell off its other units.
The current climate is impacting the Dow Jones, and the average forecast for the index in 2023 is not very optimistic.
Amid the crypto bear market, Ark Invest has acquired an additional stake in GBTC, spending over $1.5 million on more than 170,000 shares.
Following strong earnings reports from several financial companies, the Dow Jones Industrial Average is currently rallying.