Tuesday, August 16

Markets Rebound After FOMC Meeting, But Bitcoin Bears Still Have Short-Term Advantage By CoinTelegraph

Markets Rebound After FOMC Meeting, But Bitcoin Bears Still Have Short-Term Advantage

The price of () has been on a downward trend from the all-time high of $ 69,000 on November 10, when the Labor report showed inflation to be above 6.2% in the United States. While this news could be beneficial to non-inflationary assets, the rejection of VanEck’s physical Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) on November 12 took by surprise to some investors.

Bitcoin / USD price on Coinbase (NASDAQ :). Source: TradingViewWhile the denial of the ETF application was generally expected, the reasons given by the regulator may be concerning to some investors. The US SEC alleged the inability to prevent market manipulation in the Bitcoin market in general due to unregulated exchanges and the large trading volume based on the stablecoin (USDT).

The analysis of the broader structure of the market is extremely relevant, especially considering that investors closely monitor the meetings held by the US Federal Reserve regardless of the magnitude of the upcoming reduction in the bond and asset buyback program. From the Fed, Bitcoin moves have been tracking U.S. Treasury yields for the past 12 months.

Read the full article on Cointelegraph

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Reference-es.investing.com

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