And there are certainly people in congress that are saying we need to regulate the heck out of this. It’s just too soon to say which side it will be closer to at this stage. But we’re trying to keep our finger on the pulse of regulatory developments so that we can get a better sense of what’s going to happen.
- However, a drop below expectations of 54.5 could hint at inflation or job worries, denting risk appetite.
- Some of the more mainstream fintech players are more active in the crypto space.
- Amid the crypto black Monday woes, this week’s US economic data will be crucial for Bitcoin and altcoin markets.
- Reuters reported that Binance allegedly commingled collateral with user funds and that’s of course raising some red flags.
So if there is regulatory clarity and the guardrails are defined, and large banks and financial institutions know what they can play in, they will likely play in that space. It’s just a matter of getting that clarity which we just don’t have today. Yeah, so I feel like 2023 might be a year of sideways action, mostly.
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While such indices don’t predict price movements, they often reflect broader shifts in investor thinking. “US Core Inflation Rate and CPI (Thu10) and Initial Jobless Claims (Thu10) are top-tier market movers, likely impacting USD, bond yields, and Fed rate expectations amid tariff uncertainties,” one user noted. However, rising continuing claims suggest that job-finding challenges persist. JPMorgan is the first Wall Street bank to forecast a US recession following Trump’s tariffs. According to the bank, the FED might be forced to cut rates before the next meeting.
Before the last Bull Run, there was a lot of builder activity in the space and major household names began announcing initiatives in crypto. Firms like Visa, Mastercard, PayPal and Square, and others, released products and services in the space and that built a foundation for bullish sentiment which led into that Bull Run. It’s unlikely that we will see similar announcements in 2023, so we’re kind of missing that foundation. We’ll still experience volatile swings, but I feel that they could just as equally go both ways, either up or down.
Despite JPMorgan’s fears and urges, the ongoing crypto market bloodbath notwithstanding, no emergency meetings are announced for April as per the Fed’s official calendar. Accordingly, the next likely date for any policy changes, like the rate cut JPMorgan mentioned, is May 6-7. Amid the crypto black Monday woes, this week’s US economic data will be crucial for Bitcoin and altcoin markets. Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member.
The differences between a bull and bear market are simple yet complex. A bull market fuels optimism, risk-taking, and price surges, while a bear market brings fear, sell-offs, and a test of investor resilience. These events collectively shape the crypto market sentiment this week, intertwining monetary policy, economic health, and investor psychology.
In the Ether
Yes, you can access historical cryptocurrency market data via the /v1/global-metrics/quotes/historical API endpoint. This allows you to retrieve past global market metrics, such as market capitalization and Bitcoin dominance, based on specified time ranges and intervals. These minutes detail discussions on interest rates, inflation, and economic growth, influencing market sentiment. If the tone is hawkish, suggesting tighter policy or fewer rate cuts, Bitcoin could face downward pressure as investors favor safer assets like bonds, bolstered by a stronger US dollar. The CoinDesk 20 Index (CD20) has emerged as a useful lens for tracking this institutional shift.
Crypto Daybook Americas: A Bizarre $5.4B Loss Has Left Investors Devastated
Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. The Consumer Price Index (CPI), which will be released on Thursday, is another critical US economic indicator for https://hor-tax.com/ participants to watch. The data measures inflation through changes in consumer goods and services prices. Winds have already been shifting in favor of a broader institutional reentry. Securities and Exchange Commission rescinded Staff Accounting Bulletin (SAB) 121, easing restrictions on how publicly traded companies treat client-held crypto assets. That move removed a major roadblock for banks and institutions to participate in crypto custody and lending.
How can you buy cryptocurrencies?
With so many crypto projects and products available, it can be hard to decide which ones are the best fit for your specific needs. Which is why we’ve created an extensive section specifically for reviewing and ranking projects in the market. From dApps and staking solutions to Telegram trading bots and exchanges, we provide in-depth reviews and curated top lists to help you confidently choose the right products in the crypto space. “[Cantor’s launch] will set an interesting trend, because bitcoin is a very liquid asset that trades 24/7 around the world.