By E. Vázquez Bécker. The main assets in the market have skyrocketed in the last 24 hours, especially after the publication of inflation data in the US, with the bitcoin (BTC) rising around 18% and sitting above $26,400. He ethereum (ETH), for its part, it adds 10% and stands at $1,750.
According to some experts, this is due to the fact that the fall of the SVB has produced sensible changes in the plans of the Federal Reserve of the United States FED as far as monetary policy is concerned.
This unexpected bitcoin reaction will be a boost to the financial policy of President Nayib Bukele of El Sakvador, who made bitcoin a legal tender in the country against the United States‘ ok
The New York Times has insisted that El Salvador’s financial experiment with cryptocurrency is a failure
Despite the fierce and constant attacks that the Salvadoran president receives for his financial policy, last February he approved and sanctioned the Digital Assets Issuance Law with the evident intention of redoubling his commitment to bitcoin in the country without caring about distrust what has caused
After surpassing 26,000 this Wednesday and reaching new highs, bitcoin is in the midst of a rarely seen recovery. Faced with this expectation, everyone wonders if Bukele will take the opportunity to sell upwards, wait for the currency to continue to rise, or will he run the risk of new purchases in the face of the long-awaited $100,000 that many people dream of.
.
Related news
Six keys that investors should take into account after the bankruptcy of SVB
As equity markets bleed to death the crisis unleashed by the bankruptcy of Silicon Valley Bank (SVB), the ‘cryptos’ have been buoyant after falling as much or more than traditional values in the early stages of this turbulent event. According to some experts, this is because the fall of SVB will completely change the plans of the Federal Reserve (Fed) as far as monetary policy is concerned. So much so that prestigious firms such as Goldman Sachs forecast that the central bank will not raise rates in March, while Nomura warns that the FOMC could decide to cut 25 basis points next week.
“In theory, the worst of the crisis should be behind usgiven that the US government guaranteed all bank depositors which sank last week. But the crisis will surely make the Fed think twice about what to do at next week’s meeting,” explains Ipek Ozkardeskaya, a senior analyst at Swissquote Bank. This expert emphasizes that the prices of the futures of the Federal Reserve funds suggest that there are just over 70% chance of a 25 basis point rise next month, and just under 30% chance that there will be no rate hike. “This is a big change from last week”sentence.
https://geo.dailymotion.com/player/x87lq.html?video=x7ta1ee&scaleMode=fill&mute=true&syndicationKey=273776&customConfig[customParams]=21682672808%2C22693487498
Stay
Next
— / —
The collapse of SVB “could advance the recession in the US”
The US Justice and the SEC investigate Signature Bank and its managers
DCG points to Santander or HSBC as potential partners for ‘crypto’ companies
Coinbase Reveals Over $200 Million Exposure to Signature Bank
The People’s Bank of China keeps rates unchanged and increases the injection of funds
Read more…
Related news
Nomura sees a 25 basis point cut from the Fed next week due to the financial crisis
What has finished tipping the balance and triggering the price of ‘cryptos’? The CPI reading for February in the United States. Both headline and core inflation have eased to 6% and 5.5%, respectively, meeting market expectations. “He base effect, in which we will finally begin to compare the months of war with the months of war, will not come into play until March, as Russia invaded Ukraine at the end of February last year,” recalls Ozkardeskaya.
In monthly terms, the general index advanced 0.4% in February, matching market expectations and representing a slowdown from the 0.5% it grew in the first month of the year. As for the underlying rate, growth in the period was 0.5%, one tenth above the previous month’s record and consensus expectations (+0.4%).
According to Michael van de Pöppe, CEO and founder of the investment firm Eight, the ideal for the price of the queen cryptocurrency would be to see some period of consolidation before the inflation data is published.
@CryptoMichNL
#Bitcoin sweeping the highs here as it’s testing range high at $25K.
You’d preferably want to see some period of consolidation (CPI day today) before continuation.
If markets sweep range high at $25.2K, make a bear. div and fall back, I’d be looking for shorts to $23K. https://t.co/bs4HFbxBMT
06:50 – 14 Mar 2023
“Bitcoin is testing the $25,000 high range. If the markets sweep through the range high at $25,200, make some bearish fun and pull back, I would be looking for shorts to $23,000,” he adds.
In the rest of the ‘altcoins’ market, notable increases. Polygon (MATIC), dogecoin (DOGE), polkadot (DOT) o litecoin (LTC) They go up about 10%. For his part, he Cardano (ADA) and the sunny (SUN) rise more than 8% and 13%, respectively, while ripple (XRP) adds 6%.
Related news
Advertising
5 elements of your car that you should check before going on vacation this summer
Subscribe to Bolsamania’s daily newsletter for free
Receive in your email: breaking news, technical analysis or the market close
You will receive the most relevant information of the day in real time
The most read – Bolsamania
- Credit Suisse sinks: the largest shareholder rules out investing more and drags the bank
- The Ibex 35 collapses more than 4% due to fear of the collapse of Credit Suisse
- Technical analysis office: Santander, BBVA, Sabadell, Bankinter, CaixaBank, Unicaja, Ibex…
- Why is Inditex falling on the stock market despite its profit record?
- Sabadell, BBVA, Bankinter, Santander and Caixa sink again due to uncertainty
- Sharp falls on Wall Street with regional American banks in focus
- Five values that should be taken into account by a technician this Wednesday
- EUR/USD under pressure due to doubts raised by the ECB meeting
- The listing of several large European banks is suspended after the sharp falls
- Inditex achieves a record profit of 4,130 million in the first year of Marta Ortega
The most read – Analysis
- Technical analysis office: Santander, BBVA, Sabadell, Bankinter, CaixaBank, Unicaja, Ibex…
- Why is Inditex falling on the stock market despite its profit record?
- Five values that should be taken into account by a technician this Wednesday
- EUR/USD under pressure due to doubts raised by the ECB meeting
- It is very important that the Nasdaq is held by these prices
The most read – Crypto
- Circle (USDC) has been able to access its $3.3 billion in stored SVB
- The ‘cryptos’ moderate their rebound after the US CPI: bitcoin tests $ 25,000
- The United States asks to suspend the purchase agreement of Binance US for Voyager
- The US Justice and the SEC investigate Signature Bank and its managers
- The ‘cryptos’ skyrocket: bitcoin exceeds $ 26,000 after the CPI
2023 © Bolsamania.com
Do you want us to notify you of the most important stock market news?