Bitcoin slides ahead of Powell's remarks
2024-05-14 13:25PM UTC

Bitcoin lost over 2.5% on Tuesday, trending lower for the first time in four days amid risk aversion following US producer prices data, which hurt the odds of an early Fed interest rate cut. 


Now traders await more clues later today, including a speech by Fed Chair Jerome Powell in Holland. 


The Price 


Bitcoin fell 2.8% at Bitstamp today, or $1,766 to $61,151, with a session-high at $63,075. 


Bitcoin rose 2.4% on Monday, the third profit in a row amid strong purchases around the $60,000 barrier. 


Crypto Market Value 


Crypto market value fell by over $40 billion today to a total of $2.380 trillion as both ethereum and bitcoin carry losses.


US Yields 


US 10-year treasury yields rallied by a single basis point to a week high at 4.534%, hurting risk appetite.


The gains came after earlier US producer prices data, which surpassed estimates and underlined the ongoing threat of inflation.


US Rates


Following the data, the market odds of a July interest rate cut stood at 25%, and the odds of a September rate cut stood at 63%. 




Fed Chair Jerome Powell is expected to speak in Amsterdam later today, and will take audience questions on the future of inflation and interest rates.

Cryptocurrency News

Crypto News


Ripple falls as markets assess US monetary policy outlook
2024-05-22 19:35PM UTC
Ripple fell on Wednesday amid mounting pressures on high-risk assets, as markets assess the Federal ...
Crypto News


Bitcoin backs off six-week high on profit-taking
2024-05-22 12:30PM UTC
Bitcoin fell on Wednesday on track for the second loss in a row away from six-week highs on ...
Crypto News


Bitcoin rallies to six-week high after surpassing $70,000
2024-05-21 12:31PM UTC
Bitcoin gained ground on Tuesday on track for the second straight profit, scaling six-week highs ...

Cryptocurrency Technical Analysis

Crypto Analysis


Ethereum price (ETHUSD) forecast update - 24-05-2024
2024-05-24 09:13AM UTC
Ethereum (ETHUSD) Price Analysis Expected Scenario Ethereum price (ETHUSD) faces new ...
Crypto Analysis


Bitcoin price (BTCUSD) forecast update - 24-05-2024
2024-05-24 09:12AM UTC
Bitcoin (BTCUSD) Price Analysis Expected Scenario Bitcoin price (BTCUSD) resumes its ...
Crypto Analysis


Ethereum price (ETHUSD) shows mixed trades – Forecast today - 24-05-2024
2024-05-24 04:04AM UTC
Price Analysis for Ethereum (ETHUSD) Expected Scenario Ethereum price (ETHUSD) faced ...