Bitcoin Surges Amid Fed Rate Cuts and BoJ Steadiness: Binance Leads with New Listings
The post Bitcoin Surges Amid Fed Rate Cuts and BoJ Steadiness: Binance Leads with New Listings appeared on BitcoinEthereumNews.com.
The crypto market experienced significant turbulence following the Federal Reserve’s and Bank of Japan’s latest rate decisions. Binance made headlines with several new token listings this week. Key figures like Vitalik Buterin and institutions like BNY Mellon were also in the spotlight with impactful moves. A comprehensive overview of the latest developments in the crypto market, focusing on major rate decisions and Binance’s flurry of new listings, alongside insights from key industry figures. Impact of Fed and BoJ Rate Decisions on Crypto Market The latest Federal Reserve decision to cut interest rates by 50 basis points has induced considerable price volatility in the crypto market. Bitcoin experienced a price increase, closing the week at $63K, up from $59K the previous week. Concurrently, the Bank of Japan has maintained its interest rates at 0.25%, fueling further speculation about market movements. These rate decisions have played a pivotal role in the recent price dynamics observed across various cryptocurrencies. Market Sentiment Post-Rate Cuts Arthur Hayes, co-founder of BitMEX, expressed concerns about the potential repercussions of the Fed’s rate cuts on the crypto market. Speaking at Token2049, Hayes cautioned that the rate cut could precipitate a market crash. Despite these warnings, investor sentiment has remained relatively optimistic, driven by the seasonal bullish tendencies of Q4 for risk assets. This combination of caution and optimism has created a unique landscape for current and potential crypto investors. Binance Expands with New Token Listings This week, the cryptocurrency exchange Binance has significantly broadened its range of supported tokens. Among the new additions, the KDAUSDT USD-Margined perpetual contract led to a notable 30% increase in Kadena’s price. Additionally, the listing of Solana Name Service (FIDA) resulted in a marked price surge for the token. Other noteworthy listings include CATI and UXLINK, each experiencing substantial gains upon their inclusion…
Filed under: News - @ September 22, 2024 6:46 am