Ethereum's native token Ether (ETH) plunged sharply hours after the U.S. Federal Reserve released the minutes of their December meeting, showing that they eye a faster timetable for hiking interest rates in 2022. The minutes showed that the Federal Open Market Committee (FOMC) is in favor of raising short-term rates "sooner or at a faster pace than participants had earlier anticipated." According to the CME Group, trading in the interest-rate futures market showed a two-thirds possibility of the first increase in March. Ether turned lower after the minutes were released, dropping by over 13.50% to as low as $3,300. Its …

The year-long calls for a $100,000 Bitcoin (BTC) price have fallen to the wayside since the asset struck a new all-time high at $69,000, but traders are not completely dismayed. At the moment, most analysts view the current price range as an optimal accumulation zone. For the past week, markets had been a bit rocky as investors across the globe grew increasingly nervous about today's Federal Open Market Committee meeting, but today's confirmation that the Federal Reserve would enact 3 rate hikes and gradual tapering in 2022 appears to have been priced in to last week's market volatility. Data from …

Cardano (ADA) may rally by nearly 30% in the coming days as it hints at forming a classic bullish reversal pattern. Sharp ADA rebound underway Dubbed "triple bottom," the pattern typically occurs at the end of a downtrend and consists of three consecutive lows printed roughly atop the same level. Meaning, triple bottoms indicate sellers' inability to break below a specific support level on three back-to-back attempts, which ultimately paves the way for buyers to take over. In a perfect scenario, the return of buyers to the market allows the instrument to retrace sharply towards a higher level, called "neckline," …

Ethereum's native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment. And now, as the ETH price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators. ETH price rising wedge First, Ether appears to have been breaking out of "rising wedge," a bearish reversal pattern that emerges when the price trends upward inside a range defined by two ascending — but converging — trendlines. Simply put, as the Ether price nears …

Global financial market took a hit on Nov. 30 after comments from U.S. Federal Reserve Chair Jerome Powell hinted that inflation and the Omicron Covid-19 variant are growing threats and that the bank's easy money policies could end sooner than anticipated. Prior to Powell's comments, Bitcoin (BTC) had been on the rise and the digital asset had rallied 6% from a low of $55,840 in the early trading hours on Nov. 30 to an intraday high at $59,200, but the price was hammered back below $57,000 after the Fed's remarks. At the time of writing, Bitcoin has managed to climb …

Bitcoin (BTC) looks to reclaim $45,000 on Oct. 1 as the United States dollar retreated lower after hitting its one-year high. Bitcoin’s tight inverse correlation with the greenback over the past month suggests that a weakening dollar could push BTC’s price even higher in the coming sessions. Dollar drops following labor market shock In detail, the U.S. Dollar Index (DXY), which measures the dollar’s strength against a basket of six foreign currencies, including the euro and sterling, hit 94.50 Thursday for the first time since Sept. 28, 2020. But it retreated on news of rising U.S. jobless claims against the …

According to the Wall Street Journal, central bank digital currencies (CBDCs) could actually negatively impact interest rates by giving policymakers an additional tool. In his article, "Digital Currencies Pave Way for Deeply Negative Interest Rates," senior columnist James Mackintosh argues that the difference between a CBDC and cash would be highlighted if interest rates fell below zero. People would be more inclined to hold on to physical cash to “earn zero” rather than lose money on a digital dollar issued by the central bank. This means the central bank will have more leverage with interest rates if it issues digital …

Dollar traders have kept a close eye on a potentially bullish "inverse head-and-shoulders" pattern building in the U.S. dollar index (DXY) chart. Meanwhile, the smell of a stronger greenback is weakening Bitcoin's (BTC) upside case, especially as the flagship cryptocurrency struggles to break out of its current $30,000-35,000 trading range. Three troughs, one price ceiling In detail, the inverse head-and-shoulders (IH&S) pattern forms after a downtrend. It contains three successive troughs, with the middle trough (head) being the deepest than the other two (shoulders). Ideally, the two shoulders are of equal height and width. All three troughs hang by a …

A crypto exchange has launched a new tool that pays interest on dozens of cryptocurrencies. CoinZoom says it is striving to be more than a crypto exchange for its customers — delivering an environment where they can invest and spend their assets, and watch them grow. The new feature, which is called CoinZoom Earn, is being rolled out in the coming weeks. No fees are charged when crypto balances are transferred to this tool. Interest is accrued daily and compounds on a monthly basis — with interest payments set to be made regularly. These returns can either be redeemed, reinvested …

Bitcoin’s (BTC) price continued its downtrend Wednesday ahead of the testimony from United States Federal Reserve Chairman Jerome Powell. The spot BTC/USD exchange rate fell to its 17-day low of $31,600 following a 3.46% intraday dip. Meanwhile, CME futures tied to the pair plunged 3.41% to $31,515, extending their week-to-date losses to 9.5%. Bitcoin had powered to $35,000 at the beginning of July, as bulls continued to defend support levels around $30,000 against each downside attempt. Independent market analyst Will Clemente III noted that entities with a low history of selling kept absorbing Bitcoin at lower levels from speculative traders, …

The world runs on consumer spending and consumer saving. It is everyday people who actually power the most important parts of the global economy and the global financial system. For consumers, this system runs through their retail bank. It is where most people save, spend and pay their taxes. This is the battleground for the coming fight: the battle for global consumer deposits. Make no mistake, this will be the fight of the century. It will change the shape of the world more fundamentally than the internet has already. The internet was about information. DeFi is about capital — and …

The ghost of stock market crash is back again to haunt Bitcoin (BTC). It happened last in March 2020. Back then, the prospect of the fast-spreading coronavirus pandemic led to lockdowns across developed and emerging economies. In turn, global stocks crashed in tandem, and Bitcoin lost half of its value in just two days. Meanwhile, the U.S .dollar index, or DXY, which represents the greenback's strength against a basket of top foreign currencies, has now climbed by 8.78% to 102.992, its highest level since January 2017. The huge inverse correlation showed that investors dumped their stocks and Bitcoin holdings and …