Fed didn't stop to paused - page 2. | Bitcointalksearch.org

This past May 31, the Fed continued to raise interest rates. And the reason is

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"Bitcoin Recedes to $27K as Fed's Mester Favors Unabated Tightening"

Because the Fed said,

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there is no compelling case to halt the liquidity tightening. The Fed's unrelenting tightening has roiled risk assets, including cryptocurrencies. Which means there is no compelling reason for the Fed to pause and stop raising interest rates. It was announced that it ended just Wednesday that said President Loretta Mester in an interview.

And when Lorreta Mester said this, the value of Bitcoin immediately fell by 2% in the market. And not only Bitcoin was affected but also Nasdaq and other assets as well. But the dollar index increased by 0.27% assets. And Gold is not affected much. And I think what the Fed did is that it can be aggressive without causing the industry to collapse, this is what they decided because they think inflation is still high.

So now the traders are no longer expecting the Fed to cut rates this year. Actually this is not good for Bitcoin, Although there is a lot of good news happening in other parts of the world like China and Hongkong, but still the U.S influence is greater in the crypto market. If you look at the price of Btc now, it is under our resistance level, which only proves that the pump in the past is very weak.

What do you think about this matter and give us an opinion.

Referrence: https://finance.yahoo.com/news/bitcoin-recedes-27k-feds-mester-072628064.html

Topic: Fed didn't stop to paused - page 2. (Read 173 times)