Reserve

Cryptocurrency

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-rebounds-following-key-economic-reports" rel="noopener noreferrer nofollow">Bitcoin Rebounds Following Key Economic Reports</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/deciphering-bitcoins-trajectory-an-analysts-insightful-perspective" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value witnessed a resurgence following the release of pivotal economic updates. The market’s response was largely influenced by the Federal Reserve’s meeting minutes and a surprisingly strong earnings report from tech giant NVIDIA. Contrary to expectations of more aggressive statements, the Fed’s minutes conveyed a cautiously optimistic tone. The central bank is poised to follow through with a 75 basis point rate reduction, despite certain members expressing concerns about a potential stall in the downward inflation trend. The implications of these worries are to be further examined with the release of incoming March inflation data, which is predicted to introduce heightened market fluctuations.</p>
<h2 id="the-influence-of-federal-reserve-and-nvidia">The Influence of Federal Reserve and NVIDIA</h2>
<p style="text-align: justify">The Federal Reserve’s minutes did not showcase excessively negative sentiment, maintaining a steady approach to rate cuts. The uncertainty around inflation’s trajectory persists among members, with March’s data anticipated to clarify the situation and possibly incite significant market activity.</p>
<h2 id="stock-market-positivity-and-cryptocurrency-correlation">Stock Market Positivity and Cryptocurrency Correlation</h2>
<p style="text-align: justify">Following NVIDIA’s earnings triumph, Bitcoin ascended past the $52,200 mark, signaling a positive outlook for the upcoming US stock market opening. Considering the historically positive correlation between cryptocurrencies and the US stock market, similar upward trends in cryptocurrency values are expected in reaction to stock market gains.</p>
<p style="text-align: justify">As the day’s trading nears its conclusion, investors should brace for increased volatility. There’s a looming apprehension that the start of trading in Asian markets might instigate a fresh selling spree, potentially setting up the conditions for another bull trap.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-rebounds-following-key-economic-reports" rel="noopener noreferrer nofollow">Bitcoin Rebounds Following Key Economic Reports</a></h5>

Bitcoin Rebounds Following Key Economic Reports

Mục lục

BH NEWS

Các bài viết khác được xuất bản trên 21 thg 2, 2024

LBank Exchange Will List PAPOCOIN (PAPO) on February 23, 2024

Chainlink (LINK) drops, while Dogecoin (DOGE) holders flock to Pushd (PUSHD) presale as 20x seems...

What about “Coinbase and Korean Premium” in Bitcoin? CryptoQuant Analysts Commented and Explained...

Solana TVL hits $2B after a year – A sign of recovery or not?

Turkey’s Central Bank Assesses First Phase of Digital Lira

Sam Altman’s WorldCoin Hits New ATH as Wallet Gains 1M Users; $GFOX Presale 90% Sold-Out

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!