The crypto market pushed higher as efforts to shore up the banking sector and bets that the US may start cutting interest rates later this year bolstered investor sentiment. Moneyweb Bitcoin
The crypto market pushed higher as efforts to shore up the banking sector and bets that the US may start cutting interest-rates later this year bolstered investor sentiment. Bitcoin, the largest token, rose as much as 4.9% and was trading at about $25,610 as of 10:45 a.m. in Singapore on Friday. Second-ranked Ether added roughly 3%, while smaller tokens like Solana and Polkadot also jumped.
“Any sign of interest-rate cuts should push funds to riskier assets, which is likely to be enough to bring more institutional funds into the crypto market, regardless of whether macro traders understand or believe in the longer-term Bitcoin investment thesis,” wrote Noelle Acheson, author of the “Crypto Is Macro Now” newsletter. Bitcoin has climbed about 55% so far this year and is in touching distance of the highest level since June 2022.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin near highest level since June in broad crypto rally - TechCentralEfforts to shore up the banking sector and bets that the US may start cutting interest rates later this year have bolstered investor sentiment.
Read more »
Gold and bitcoin surge | The CitizenBitcoin broke above R470 000 in SA and flirted with $26 000 on Tuesday, as investors digested a week of frightful news from the banking sector. 📈 Read more here 👇
Read more »
Bitcoin surges to highest price in 9 monthsBitcoin has climbed about 55% so far this year and is in touching distance of the highest level since June 2022.
Read more »
Nigeria: Fuel Subsidy Removal - No Plan for Palliatives Yet for Nigerians - GovtUnder the federal government's 2022 to 2023 Medium-Term Expenditure Framework, a proposal of N3.3trillion was only made for fuel subsidy between January and June 2023.
Read more »
Comrades to finish at Kingsmead after seven year breakThis year’s Comrades Marathon Down Run, scheduled for Sunday, 11 June 2023, will have a different finish as it returns to the Hollywoodbets Kingsmead Stadium after a seven-year break.
Read more »