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The debt ceiling is unlikely to hold as the government faces increased pressure from interest rate payments, a potential catalyst for Bitcoin and cryptocurrencies. The U.S. Federal Reserve made a significant announcement on Sept. 14, revealing accumulated losses of $100 billion in 2023. What’s more, this situation is expected to worsen for the Fed, according to Reuters. But for risk assets like Bitcoin (BTC), this may actually be a blessing in disguise.  The Fed in the red The primary reason behind this financial setback is that the interest payments on the Fed’s debt have surpassed the earnings generated from its holdings and the services it provides to the financial sector. As a result of this development, investors are now scrambling to grasp how this will impact interest rates and the demand for provably scarce assets like BTC. Fed earnings remittances due to the U.S. Treasury, USD (millions). Source: St. Louis Fed Some analysts are of the opinion that the Fed’s losses, which com...

Bitcoin (BTC) has usually been promoted as an inflation hedge, but amid the worst years in over a decade of growing inflation worldwide, the bear market surged for the leading cryptocurrency that has been outperformed by other inflation hedge assets in the short term. In this context, the Frax Price Index (FPI) — a token created in the Frax Finance ecosystem supposedly pegged to the US CPI — seems to be outperforming Bitcoin by close to 40% since its deployment, from the end of September 2022 to press time. FPI price chart since inception. Source: CoinMarketCap Although it is still an experimental project that must be looked into with caution, the FPI performance against BTC can also pose as a valuable indicator of how Bitcoin has been performing as an inflation hedge in this last year. “The system will adjust every month according to an on-chain Consumer Price Index oracle so that holders of the FPI will increase their dollar-denominated value each month according to the repor...

BTC price bounces and the U.S. dollar falls from fresh twenty-year highs as PMI numbers reignite talk of recession. Bitcoin (BTC) headed for multi-day highs after the Aug. 23 Wall Street open as United States economic data tripped up the dollar. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar suffers as data shows incomes "squeezed" Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it eyed $21,700 at the time of writing, near resistance in place since last week’s near-12% drop. The pair gained momentum as the U.S. Purchasing Managers Index (PMI) prints for August showed a drop versus the month prior , hitting the lowest levels since May 2020 at the height of the first round of COVID-19 lockdowns. “The S&P Global Flash US Services Business Activity Index posted at 44.1 in August, down from 47.3 in July, to indicate a further reduction in overall services activity,” a press release from curator S&P Global stated. “The decrease ...

Bitcoin keeps up the gains with U.S. stocks with hours to go until a decision on rate hikes and comments from Fed Chair Powell. Bitcoin (BTC) set new one- month highs on the Dec. 14 Wall Street open on the day of key events for the United States Federal Reserve. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bitcoin bullish with Ustocks into FOMC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,126 on Bitstamp, beating the $18,106 high from the day prior. U.S. stocks edged higher as markets eagerly awaited feedback from the Fed after the November Consumer Price Index (CPI) print showed inflation slowing beyond expectations. Dec. 14 was set to see a decision on rate hikes for the month from the Federal Open Market Committee (FOMC), together with a speech from Fed Chair Jerome Powell. The latter event tends to spark considerable volatility, with pundits closely scrutinizing Powell’s language for hints about longer-term economic policy. “With FO...

Two investment moguls are betting on different directions for inflation and Treasury yields, with potentially negative impacts on Bitcoin. Warren Buffett and Bill Ackman are two of the most successful investors in the world, but they have taken opposing views on the bond market in recent months. Only one can be right. Billionaire investor Bill Ackman says he is shorting US Treasuries. if long-term inflation is 3% not 2%, the 30y Treasury yield could rise to 5.5%. In contrast, Warren Buffett has announced buying positions in 10y US Treasuries. Shorting US 10y bonds seems… pic.twitter.com/X2zSPzJ91Y — Holger Zschaepitz (@Schuldensuehner) August 5, 2023 Buffett has been buying short-term Treasury bills, while Ackman has been shorting long-term Treasury bonds. Could both of these investors be right? Warren Buffett is the chairman and CEO of Berkshire Hathaway, one of the world's largest investment holding companies. Buffett’s worth is estimated to be over $100 billion. Bill Ackma...

Sui was accused of dumping locked and non-circulating staked SUI tokens on Binance. Sui Foundation — the team behind the Sui network and its native SUI token — has denied allegations that the firm un locked SUI staking rewards and “dumped” them on cryptocurrency exchange Binance . The Foundation knocked back the claim in a five-part Twitter thread on June 27, stating that none of the locked or non-circulating tokens, including SUI staking rewards had been sold: "Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise." "All insider token allocations remain subject to and compliant with their lock ups and other restrictions on transfer,” the foundation added. The purpose of this communication is to share information regarding the tokenomics of the Sui Network including the SUI token supply and certain distributions of SUI tokens. Here’s what you need to know: — Sui Foundation (@SuiFoundation...

Bitcoin is up $1,000 on the day as bets on $30,000 hitting soon reappear in advance of the BTC price monthly close. Bitcoin (BTC) recovered recent losses at the March 31 Wall Street open as traders looked for a strong monthly close. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView PCE delights risk assets as with BTC price up $1,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading to $28,556 on Bitstamp after the opening bell, up $1,000 from the day’s lows. The fresh gains followed encouraging macroeconomic data from the United States, with the February Personal Consumption Expenditures (PCE) index modestly beating expectations in some areas. “We are making progress in the fight against inflation,” an official White House statement about the PCE numbers read. “Today’s report shows annual inflation down by nearly 30 percent from this summer, against a backdrop of low unemployment and steady growth.” More evidence of a decline in the US Inflation Rat...

Bitcoin price action is on a knife edge as analysis hopes that the monthly close can echo a positive end to the week. Bitcoin (BTC) keeps pushing for a bullish end to February as the monthly close starts another week’s price action. The largest cryptocurrency looks set to preserve its gains as it closes the second month of 2023 — and is keeping bulls’ hopes alive in the process. Can the good times continue? The coming week could mean decision time for a key area of BTC price action around $25,000. Analysts are eyeing a breakout toward $30,000 if support can become more permanent, while concerns nonetheless remain that a trip back towards resistance reclaimed in January is still on the cards. Amid a quiet week for macroeconomic data, any catalysts for determining whether BTC/USD goes up or down may come from within Bitcoin itself. One thing is for sure, on-chain data shows — long-term Bitcoin hodlers are in no mood for selling yet, and at current prices continue to add to their BTC exp...