Bitcoin (BTC) attempted to flip $17,000 to support on Dec. 1 after sealing its lowest monthly close in two years. Bitcoin gains inch up as November end Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $17,100 in a second intraday charge at higher levels. The pair managed to avoid losses as the monthly candle closed, instead seeing solid daily gains of around 4.5% for Nov. 30. Nonetheless, Bitcoin shed 16.2% for the month, making November 2022 its worst since 2019. The more buoyant mood coincided with comments from the United States Federal Reserve. In a speech on inflation …

The importance of remuneration in the design of a central bank digital currency (CBDC) was emphasized in a paper the United States Federal Reserve Board released Nov. 17. The paper, part of the Fed’s Finance and Economics Discussion Series, reviewed the theoretical literature on CBDCs in large, developed economies, with a particular view to the United States. It looked at the risks and benefits to the banking system of introducing a CBDC, with particular focus on the role of CBDC design in the implementation of monetary policy, and remuneration, that is, payment of interest, as a critical design feature. A …

The Federal Reserve Bank of New York’s Innovation Center, or NYIC, announced that it would be launching a 12-week proof-of-concept pilot for a central bank digital currency, or CBDC. In a Nov. 15 announcement, the New York Fed said the program would explore the feasibility of an “interoperable network of central bank wholesale digital money and commercial bank digital money operating on a shared multi-entity distributed ledger” on a regulated liability network. Banking giants including BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, U.S. Bank and Wells Fargo will be participating in the pilot by issuing tokens and …

The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) will launch a joint experiment with wholesale central bank digital currencies (wCBDCs). Regulators are keen to test the wCBDCs potential for cross-border wholesale payments. On Nov. 11, the MAS announced the launch of Project Cedar Phase II x Ubin+. In its framework, NYIC and MAS will leverage wCBDCs as a settlement asset in cross-border cross-currency transactions. The aim is to assess the possible ability of wCBDC to reduce settlement risk. Leong Sing Chiong, Deputy Managing Director at MAS, highlighted the concept …

While proponents of traditional finance remain keen on dismissing Bitcoin (BTC) and the crypto ecosystem as financial risks, a survey conducted by the Federal Reserve Bank of New York — one of the 12 federal reserve banks of the United States — revealed 11 factors that overshadow crypto in terms of risk in 2022. Geopolitical tensions, foreign divestments, COVID-19 and high energy prices were found to be some of the most-cited potential risks for the US economy, according to a central bank survey published by the Federal Reserve System. Out of the 14 factors that pose a financial risk, crypto …

Since March 2022, traders and so-called analysts have been forecasting a policy change or pivot from the United States Federal Reserve. Apparently, such a move would prove that the Fed’s only available option is to print into oblivion, further diminishing the value of the dollar and enshrining Bitcoin (BTC) as the world’s future reserve asset and ultimate store of value. Apparently. Well, this week (Nov. 2) theFed raised interest rates by the expected 0.75%, and equities and crypto rallied like they usually do. But this time, there was a twist. Prior to the FOMC gathering, there were a few unconfirmed …

The Federal Reserve Bank of New York Innovation Center has released a report on the first phase of its Project Cedar wholesale central bank digital currency (wCBDC) Nov. 4. The Fed still has no plans to issue a CBDC, NY Fed executive vice president and head of markets Michelle Neal said at a presentation in Singapore, but it has investigated foreign exchange spot settlement “from the perspective of the Federal Reserve.” Its prototype wCBDC, intended for use by financial institutions rather than the public, was able to implement transactions dramatically faster and more securely than the current standard. A foreign …

Much like a pandemic, inflation has spread throughout the world, clouding the future with dark uncertainty. Disagreement over how to best manage soaring prices in the United Kingdom nearly caused its economy to collapse and subsequently led to the resignation of Prime Minister Liz Truss after just 44 days in office. Currently, at least 10 emerging economies are hyperinflationary, with more expected to follow. And the Federal Open Market Committee (FOMC), the part of the U.S. Federal Reserve responsible for keeping prices stable, just announced higher interest rate hikes in the midst of a return to positive gross domestic product …

On this week’s episode of Market Talks, we welcome Jake, also known as “Korean Jew Crypto” on Twitter and the founder of “The Trading Dojo,” a platform that provides quality coaching and education to help traders identify profitable trades on their own. The wide reaching interview covered KJ’s take on how to trade the Federal Open Markets Committee and Consumer Price Index events, along with his views on how Federal Reserve policy is impacting crypto prices. According to KJ: “In regards to what Powell said, and the way the news cycle has been, a few weeks ago I was adamant …

Bitcoin (BTC) has been lingering above $20,000 for the past 9 days, but worsening conditions from traditional markets are causing traders to doubt if the resistance will hold. On Nov. 3, the Bank of England raised interest rates by 75 basis points to 3%, its largest single hike since 1989. The risks of a prolonged recession also increased as the monetary policy committee struggled to contain inflationary pressure. The U.K. monetary authority noted that its most recent growth and inflation projections present a "very challenging" outlook for the economy. The statement from the committee added that "high energy prices and …

Bitcoin (BTC) saw instant volatility on Nov. 2 as the United States Federal Reserve enacted a fourth consecutive 0.75% interest rate hike. Fed hints more hikes to com Data from Cointelegraph Markets Pro and TradingView showed BTC/USD initially dropping to $20,200 before momentarily rebounding to $20,800. The Fed confirmed the 0.75% hike, which marks its most intensive hiking schedule in forty years, in a statement. “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal …

A $250 surprise rally took place between Oct. 25 and Oct. 26, pushing Ether (ETH) price from $1,345 to $1,595. The movement caused $570 million in liquidations in Ether’s bearish bets at derivatives exchanges, which was the largest event in more than 12 months. Ether price also rallied above the $1,600 level, which was the highest price seen since Sept. 15. Let’s explore whether this 27% rally over the past 10 days reflects any signs of a trend change? It is worth highlighting that another 10.3% rally toward $1,650 happened three days later on Oct. 29, and this triggered another …