First Mover Asia: Bitcoin Trades Sideways, Investors Await Any Fed Interest Rate Signals; IMF Sees Growing Link Between Crypto and Asian Stocks

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Bitcoin was trading sideways but holding above $21K as investors continue their wait for federalreserve Chair Jerome Powell's next signals; the IMFNews has concerns about the rising correlation between Asia stock markets and crypto. JPRubin23 reports

Ten-year Treasury yield daily close: 3.05%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atCall this week's cryptocurrency price saga,"Waiting for Jerome."

Bitcoin was recently trading at about $21,200, roughly where it stood 24 hours ago. The largest crypto by market value has lost about 10% over the past week amid a wider crypto sell-off that has dropped digital assets total capitalization below $1 trillion. AVAX and DOT were recently up over a percentage point. But EOS and YGG fell more than 6% and 4%, respectively. EOS's decline follows a

Is the Fed is still alarmed enough about inflation but comfortable with the pace of the current economic slowdown to maintain its aggressive monetary course of 75-basis point rate hikes? Or will it go dovish and announce a more moderate 50-point hike? Investor expectations have shifted back and forth in previous days.crypto custodian Prime Trust in an attempt to claw back $17 million in crypto that the bankrupt lender alleges its former business partner still holds.

 

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