DOGE's bullish fractal also gains support from expectations of interest rate cuts, the upcoming Bitcoin halving, and Elon Musk's influence.
Interest Rate News
Interest rate is defined as the annual rate of return on an asset when lent or the amount charged by a lender when borrowing, usually expressed as a percentage and calculated on an annual basis. It is applicable when lending or borrowing and is paid in fiat currencies or even a cryptocurrency. The interest rate can be calculated over a duration of time as simple interest or can be compounded, where both the principal and accumulated interest over the previous period are subjected to interest rate calculations.
While interest rates vary among asset classes, digital currencies like stablecoins and altcoins offer higher returns when held in cryptocurrency saving accounts, especially when compared with the savings rate for fiat currencies like the United States dollar.
Considered to be the cost of money, the interest rate determines the attractiveness of an asset for a lender and is usually higher for assets that suffer from higher depreciation. The interest rate for borrowers with a good credit rating is lower than for those with a poor credit rating, while lenders in need of capital generally provide a higher interest rate on funds deposited with them as compared with those that are flush with funds.
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Bitcoin futures and options indicate growing strength at BTC’s $70,000
11638Bitcoin price hits $70,000 as GBTC outflows taper and the other spot BTC ETFs heat up again.
3216Bitcoin price is down today as a swift reversal in market sentiment triggered a wave of liquidations.
2250BTC, ETH and a few large-cap altcoins are redounding today, but data continues to point to an “overheated” market.
2159The entire crypto market tumbled today as Bitcoin price dropped below $63,000 and large-cap altcoins sold off.
10873The funding rate for Bitcoin perpetual futures has been reset after $370 million in contracts was liquidated. Is that a good sign?
19548Amid rising national debt levels in the United States, influencers on X say Bitcoin is the only realistic solution to sidestep inflation.
44006Unlike traditional interest rates, Bitcoin staking reward rates are determined by the users who participate rather than central banks.
8085Broader market uptrends and Solana's network outage have triggered this week’s rise in ADA price.
1670Powell said the Federal Reserve needs “more confidence” in the U.S. economy before it can begin cutting rates.
7376The price of Bitcoin dipped 2.5% after the Fed pressed pause on interest rates and dampened any hope of rate cuts next month.
9961Open interest in the crypto futures market represents the total number of outstanding contracts, providing insights into potential trend movements.
A startling number of Bitcoin margin longs recently opened at Bitfinex, but their muted impact on BTC price raises suspicion.
36728Macroeconomic factors will pressure Bitcoin’s price in 2024 despite the bullish narratives, says Bloomberg Intelligence senior commodity strategist Mike McGlone.
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