Bitcoin rallies after BOJ’s 1.25% hike, but the real yen-carry test starts next week
The Bank of Japan announced a policy-rate increase to about 1.25% on Sept. 18, yet the visible Bitcoin and currency response showed limited signs of a disorderly yen-carry unwind. The BOJ voted 7-2 to lift its target for the uncollateralized overnight…
Bitcoin’s $80,000 ceiling looks fragile after stocks shrugged off near-5% Treasury yields
Bitcoin failed to break $80,000 on Sept. 11 as US stocks climbed about 1% and long-dated Treasury yields stayed near levels not seen in years. Bitcoin registered an intraday high of $79,890, still short of the $80,000-$82,000 resistance zone identified…
Why Bitcoin initially held its gain as rate traders put September hike odds at 85%
August’s inflation report left the Federal Reserve with a mixed signal: gasoline drove much of the headline increase, but monthly core inflation accelerated. That combination kept Governor Christopher Waller’s conditional case for a rate hike in play…
Bitcoin tests critical $76,000 support cluster during macro energy shock
Bitcoin fell below $77,000 on Sept. 10 as oil rose above $100, and a global bond selloff pushed traders toward another Fed hike. BTC reached an intraday low of $76,676.07, Nasdaq 100 futures fell 0.7%, and the 10-year Treasury yield climbed to 4.93%…
Strong jobs just triggered a hawkish UBS reversal that could pressure Bitcoin through December
UBS’s new forecast of two Federal Reserve rate hikes this year extends Bitcoin’s potential macro headwind through December. The issue reaches beyond September’s decision: investors may have to weigh the cost of holding a non-yielding…
Bitcoin’s faces a weird new macro reality as the Fed turns off the tap and Treasury opens the floodgates
Bitcoin’s current rally started when the Treasury Department announced on Aug. 19 that, beginning Sept. 9, it would at least double the maximum size of certain buyback operations for government bonds with 10 to 30 years left to maturity, raising…
Fed stablecoin research exposes how the same dollar could count twice in M1 or M2
A Federal Reserve staff note published Sept. 4 sketches a route for regulated payment stablecoins to enter M1 or the broader M2 money supply. Its accounting framework requires adjustments before gross circulation could enter either measure. Payment…
Fed Chair Kevin Warsh triggers a $488 million crypto liquidation cascade as rate-hike expectations rise
Bitcoin fell below $77,000 Friday after Fed Chair Kevin Warsh revived the threat of higher interest rates at Jackson Hole. Data from CryptoSlate shows the largest cryptocurrency dropped to as low as $76,909 before recovering to $77,712 as of press time,…
The next currency crisis may be harder to contain because of stablecoins, New York Fed report shows
A New York Federal Reserve study found that dollar stablecoins are more likely to flow into wallets tied to countries experiencing currency or banking crises. Wallets linked to countries experiencing some form of financial crisis were 1.8% more likely to…
Bitcoin’s $69,000 breakout now hinges on yields after Fed warns more tightening may be needed
Bitcoin ran from around $64,100 to nearly $70,000 within hours on Aug. 19, once the US Treasury unexpectedly doubled its planned buybacks of long-dated government debt. The move pushed bond yields lower and forced roughly $1.4 billion of crypto short…