Bitcoin and altcoins started the week in the red, but if this week’s Federal Reserve meeting aligns with investors’ general expectations, the wider crypto market could quickly rebound.
A dollar is the national monetary unit of the USA, along with some other countries, and the most common types of dollar are the US dollar, the Canadian dollar, the Australian dollar, etc. Most affairs are made with the use of USD and, besides that, after World War II, the US dollar has become the world’s primary reserve currency or worldwide currency. In 1971, the cancellation of the direct convertibility of the United States Dollar to gold was ordered by President Richard Nixon. In some countries the dollar has the status of being the de facto currency which allows using it instead of the official one. The right of issuing the US dollars belongs to the Federal Reserve System and all dollar bills that have been issued since 1861 are still legal.
As Bitcoin remains well-positioned for a steady recovery, the mining industry witnessed a 50% growth in revenue in terms of U.S. dollars.6595
Bitcoin price has flashed a few bullish signals, but traders are not too keen on adding leverage longs until after the Federal Reserve shows its cards on Feb. 1.6485
The rally in stocks could be giving Bitcoin price a boost and the crypto market could see more fireworks if the Fed confirms investor expectation that rate hikes will slow down.7028
Bitcoin retains higher levels after gaining 40% or more this month, but concerns of a BTC price correction are never far away.7754
No change in central bank policy from Japan caused ruffled feathers in forex markets, but Bitcoin remains tied to a trading zone near two-month highs.5416
Bitcoin’s chart shows a tug-of-war between bulls and bears, and this is having a slight impact on the upward price action of most altcoins.7496
Bitcoin’s price recovery in 2023 has witnessed minimal institutional buying, casting doubt on whether BTC will rally beyond $25,000.20299
The crypto exchange said there was a “timing mismatch in backing Binance-Peg BUSD with BUSD” that seemingly showed data in which the stablecoin was not fully backed.5469
DXY is cooling off and crypto and equities are starting to heat up. Cointelegraph explores how BTC and altcoins could react to the current bullish momentum in the market.8490
The crypto market is up today, reflecting market participants’ expectations that inflation is cooling ahead of U.S. CPI data.70847
The DXY has turned bearish and that could prove to be a boon for SPX, cryptocurrency and Bitcoin.12104
USDC is a U.S. dollar-backed stablecoin issued by Circle and Coinbase to combat the price swings of the highly volatile cryptocurrency market.208
The S&P 500 may try to move up in the short term and that could trigger a recovery in Bitcoin and select altcoins.14450
Aggressive interest rate hikes have wrought havoc on global markets. As a consequence, more countries may embrace Bitcoin in the years ahead.7889