Search results for Beth Hammack
Crypto
Fed minutes signal higher rates for longer, pressuring bitcoin sentiment
Hawkish U.S. Federal Reserve minutes raised concerns that interest rates could remain at elevated levels for longer than expected, increasing pressure on risk assets such as bitcoin. The minutes of the April 28 to 29 meeting showed many officials wanted to remove any easing bias and said additional rate hikes could be needed if inflation proves persistent. The Fed held rates at 3.50 to 3.75 percent, but the meeting produced four dissents, the most since 1992.
Crypto
Bitcoin long-term holdings rise as market watches U.S. monetary policy
Bitcoin long-term holdings rose to about 15.26 million BTC, the highest since August last year. Over the past 30 days, long-term holder wallets absorbed an additional 316,000 BTC, reversing a decline seen late last year. Holdings could rise further as 800,000 BTC moved from Coinbase last year passes the six-month threshold. Attention is turning to upcoming FOMC minutes, with analysts watching for signals on rates and risk sentiment.
Finance
KOSPI recovers 4,100 in intraday trade after AI bubble fears trigger selloff
South Korea\'s KOSPI, which opened sharply lower amid renewed debate over a bubble in the artificial intelligence industry and caution ahead of U.S. economic indicators due this week, narrowed losses and regained the 4,100 level in intraday trade. The won opened weaker versus the dollar. Foreign and institutional investors were net sellers in the main market, while individuals bought. The KOSDAQ also recovered quickly after an early drop.