{"id":494560,"date":"2022-06-30T13:04:46","date_gmt":"2022-06-30T13:04:46","guid":{"rendered":"https:\/\/ktsl888.com\/?p=494560"},"modified":"2024-06-11T14:21:12","modified_gmt":"2024-06-11T14:21:12","slug":"fed-announces-inflation-warnings-as-bitcoin-whales-remain","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/fed-announces-inflation-warnings-as-bitcoin-whales-remain\/","title":{"rendered":"Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode"},"content":{"rendered":"
Over the past few hours, the price of bitcoin has deviated from a key level of support and fallen below $19,000. The transaction history reveals that many addresses purchased Bitcoin for more than $20,000. These market players would soon liquidate their holdings to prevent further losses, which would set off a decline toward $16,000<\/p>\n
Due to major inflation worries and rate hikes indicated by central banks, particularly the US Federal Reserve, BTC has almost lost half of its value over the previous month.<\/p>\n
Bitcoin’s market valuation has fallen from $1.27 trillion in November 2021 to under $366 billion at present.<\/p>\n
Jerome Powell, the chairman of the Federal Reserve, reaffirmed the Fed’s commitment to raising interest rates in order to reduce inflation. He stated during the ECB meeting that the challenge of inflation was more concerning to him than the potential for rising interest rates to cause the U.S. economy to enter a recession.<\/p>\n
\u201cIs there a risk we would go too far? Certainly, there\u2019s a risk,\u201d Powell said. \u201cThe bigger mistake to make \u2013 let\u2019s put it that way \u2013 would be to fail to restore price stability.\u201d<\/p>\n
<\/p>\n
BTC\/USD falls below $20k. Source: TradingView<\/a><\/pre>\nPowell argued that the Fed needs to quickly raise rates because a gradual hike may give consumers the impression that increased commodity prices would not go away. He said that rate increases might be lessened before the next year.<\/p>\n
Related reading | Doom To Fail: Tether Shorts Pile In As Hedge Funds Seek To Profit From Crypto Winter<\/a><\/em><\/strong><\/p>\n
Following Powell’s remarks, U.S. equity market futures declined, with those for the S&P 500 dropping 1.59% and those for the tech-heavy Nasdaq 100 losing 1.9%. Asian markets were down, with the Asia Dow index and Japan’s Nikkei 225 both down 1.54%.<\/p>\n
Data Suggests Whales Are Waiting<\/h2>\n