However, the path higher may not be easy. The Federal Open Market Committee’s meeting on Nov. 1 may cause some volatility, but it will li be short-lived as no surprises are expected. CME’s FedWatch Tool projects a 98% probability that rates will remain unchanged.Continue Reading on Cointelegraph More
Bankman-Fried denied knowing why crypto exchange FTX began moving user funds from a bank account with Alameda to North Dimension. He suggested that banks may have been more comfortable with North Dimension in order to avoid well-known hedge funds connected to crypto, such as Alameda.Continue Reading on Cointelegraph More
ETPs are investment funds whose notes or shares are designed to track the price of a particular asset. In the case of crypto ETPs, they usually track the price of large market-cap cryptocurrencies such as Bitcoin (BTC) or Ether (ETH). Some investors prefer to get exposure to crypto prices through funds rather than holding these assets themselves, as shares of these funds can be held in a traditional brokerage account.Continue Reading on Cointelegraph More
“Lower growth and higher interest rates will certainly impact on the government’s budget,” Governor Tiff Macklem told lawmakers in the House of Commons. “I don’t think fiscal policy in Canada is in a situation where it’s unsustainable. But I do think protecting our very good fiscal position is important” for social programs and prosperity, he said.Macklem noted that Canada had the lowest debt-to-gross domestic product ratio among the Group of Seven industrialized economies. Finance Minister Chrystia Freeland is due to release the government’s Fall Economic Statement (FES), which updates fiscal and economic forecasts and often includes new spending, as early as next week.She has said the FES will contain measures to help alleviate the housing crisis and cost-of-living issues while being fiscally responsible.Macklem also reiterated his message from last week, when the bank left its key overnight rate unchanged at a 22-year-high of 5%.”We held our policy rate steady (last week) because monetary policy is working to cool the economy and relieve price pressures, and we want to give it time to do its job,” Macklem said.”We will continue to assess whether monetary policy is sufficiently restrictive to restore price stability, and we will monitor risks closely,” he said.The bank said price risks were on the rise and inflation could exceed its 2% target for another two years.The bank increased rates 10 times between March 2022 and this July to tame inflation, which peaked at a four-decade high of 8.1% last year. It has since come down, hitting 3.8% in September, but it remains way above the BoC’s 2% target.”We have made a lot of progress reducing inflation, but we are not there yet, and we need to stay the course,” Macklem said. More
Shin left Terraform in 2020 “for business reasons,” his lawyer told the court. Shin was the CEO of Chai, a payments technology company that partnered with Kwon to form Terraform in 2019. According to Chosun Biz, the lawyer added:Continue Reading on Cointelegraph More
The liquidity level between $1.33 and $1.35 has historically served as an attractive entry point for OP bulls, while the barrier range from $1.40 to $1.46 has proven to be a profit-taking zone for short-term investors. The future trajectory of OP’s current range trend is closely tied to Bitcoin’s ability to breach the $35K threshold prior to the Federal announcement.For OP to successfully break out from its near-term range pattern, it must overcome hurdles at price points of $1.50 and $1.59. Failure to do so could trigger a bearish downturn, directing the digital currency toward its reliable support floor between $1.26 and $1.28.Market indicators such as the Chaikin Money Flow and On-Balance-Volume (OBV) highlight above-average capital inflows and spot market demand for OP. These indicators suggest near-term liquidation of around $1.67M on each side.As investors watch for the Federal decision on interest rates, the performance of OP and other cryptocurrencies may be significantly influenced by these macroeconomic events and market sentiments, underscoring the interplay between traditional financial markets and digital assets.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The trading activities also encompassed an uptick in both put and call sales and buys. This resulted in the closure of previous sell positions and an increase in short-term implied volatility. The latter suggests an anticipation of heightened price volatility in the near future.This bullish trend in Ethereum contrasts with a CoinShares report that indicated $6 million outflows from the second-largest cryptocurrency. This occurred despite an overall optimistic sentiment towards Bitcoin causing inflows into altcoins.In related news, Ethereum co-founder Vitalik Buterin reportedly saw weekly gains of $42 million. At the same time, MATIC, a digital currency, experienced a 4% slide. Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks, introduced a new token contract on the Ethereum platform.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
A recent study conducted by the United Nations suggests a direct correlation between the price of Bitcoin (BTC) and the energy needed for mining operations.Continue Reading on Cointelegraph More
