HomeCryptoFederal Reserve Chair Powell's 'Critical' Warning Triggers $60,000 Bitcoin Price Surge and...

Federal Reserve Chair Powell’s ‘Critical’ Warning Triggers $60,000 Bitcoin Price Surge and Crypto Market Crash

-


Bitcoin Price Drops as Billionaire Bitcoin Buyer Flips on Cryptocurrency

The cryptocurrency market is in turmoil as Bitcoin has suddenly crashed back toward $60,000 per bitcoin after a billionaire bitcoin buyer revealed they’ve flipped on bitcoin. The bitcoin price has struggled over the last month, dropping almost 15%, sparking fears of a “true correction.”

One of the biggest bitcoin bulls recently stated that the cryptocurrency could eventually replace the U.S. dollar, adding to the uncertainty in the market. Federal Reserve chair Jerome Powell has warned of a “critical period” for the Fed, calling deficit levels “unsustainable.”

Treasury secretary Janet Yellen also issued a serious warning over the spiraling $34 trillion U.S. debt pile, which some believe could help propel the bitcoin price to $1 million over the next 18 months. Traders in the bitcoin, crypto, and stock markets are closely watching the Fed for signs of interest rate cuts.

The Federal Reserve recently left interest rates unchanged and signaled only one cut in 2024, with more to come in 2025. Eyes are now turning to the release of the Fed’s June meeting minutes and Friday’s jobs report, which could further impact market expectations.

Analysts at BlackRock, the world’s largest asset manager, have issued a warning about an “unprecedented” scenario unfolding that could affect the bitcoin price and the crypto market. They predict that central banks may need to keep interest rates higher than pre-pandemic levels to tackle inflationary pressures.

The market is on edge as investors navigate through these uncertain times, with the future of Bitcoin and the broader cryptocurrency market hanging in the balance. Stay tuned for more updates as the situation continues to evolve.

LATEST POSTS

Binance resumes Mastercard purchases for cryptocurrencies

Binance Resumes Mastercard Cryptocurrency Purchases After Regulatory Setbacks Binance Resumes Mastercard Crypto Purchases After Regulatory Hurdles Binance, the world's largest cryptocurrency exchange, has once again opened...

ETH has increased by 59.37% since the beginning of the year

Frequently asked questions (FAQs) The price of ethereum, one of the most popular cryptocurrencies, is currently trading at $3,803.73 as of 8 a.m. ET. This...

Bain Capital Crypto secures $35 million Series A funding for M^0, a platform for creating digital currency

M^0 Raises $35 Million in Series A Funding for Decentralized Stablecoin Protocol M^0, a cryptocurrency protocol, is making waves in the decentralized finance world with...

Bitcoin open interest skyrockets, traders caution of potential market volatility

Bitcoin's Open Interest Surges Over $2 Billion in Three Days, Triggers Speculation of Price Whipsaw The cryptocurrency market is buzzing with excitement as Bitcoin's open...

Most Popular