Solana Name Service

Bank

Bitcoin

Elon Musk

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-markets-react-to-global-financial-moves" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Markets React to Global Financial Moves</a><br></p>
<p style="text-align: justify">Last week in the cryptocurrency realm, significant movements were observed. <a href="https://en.bitcoinhaber.net/the-economic-effects-of-bitcoins-inflation-on-investment-results" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> and various altcoins encountered increased volatility following the U.S. Federal Open Market Committee (FOMC) meeting. Concurrently, the Bank of Japan’s decision to maintain its interest rates stirred the market, resulting in price fluctuations for Bitcoin, which in turn influenced overall market volatility.</p>
<h2 id="how-did-the-fomc-and-boj-decisions-influence-the-crypto-sector">How Did the FOMC and BoJ Decisions Influence the Crypto Sector?</h2>
<p style="text-align: justify">The Federal Reserve’s decision to lower interest rates by 50 basis points caused notable shifts in the cryptocurrency sector. Bitcoin experienced a 7% increase over the week, climbing from $59,000 to $63,000. The Bank of Japan’s decision to keep interest rates steady at 0.25% led to heightened speculation about potential future price trajectories. In light of the Fed’s rate cuts, BitMEX co-founder Arthur Hayes voiced concerns at Token2049, warning of risks to the cryptocurrency market.</p>
<h2 id="what-was-binance-s-impact-on-market-dynamics">What Was Binance’s Impact on Market Dynamics?</h2>
<p style="text-align: justify">This week, <a href="https://en.bitcoinhaber.net/binance-spurs-growth-in-crypto-innovations-with-its-s6-incubation-initiative" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, a leading cryptocurrency exchange, expanded its token support offerings. By introducing the KDAUSDT USD-Centered perpetual contract, Kadena’s price surged by about 30%. Additionally, the listing of <a href="https://en.bitcoinhaber.net/investors-pull-funds-from-solana" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> Name Service (FIDA) led to a rapid price increase, and the TON-based Catizen (CATI) observed a price rise exceeding 30%. Following its listing on the UXLINKUSDT futures, UXLINK saw a weekly gain of 110%, highlighting Binance’s influence on the market.</p>
<p style="text-align: justify">Other global crypto developments included significant happenings such as:</p>
<ul style="text-align: justify">
 <li>BY Mellon exempted from the SEC’s SAB 121, allowing crypto custody services.</li>
 <li>Bitcoin critic Peter Schiff predicted Bitcoin could drop to $20,000.</li>
 <li>Vitalik Buterin’s transfer of 1.3K ETH sparked Ethereum price speculation.</li>
 <li>Circle’s partnership with Sony to introduce bridged USDC on Soneium Layer 2.</li>
 <li>Elon Musk and El Salvador President Nayib Bukele discussed emerging technologies.</li>
</ul>
<p style="text-align: justify">The cryptocurrency market continues to be influenced by global economic decisions and the actions of major exchanges. Interest rate decisions from central banks and new listings by large exchanges pose both opportunities and risks. Investors must navigate these fluctuations with caution and informed strategies to seize potential benefits while mitigating risks.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/crypto-markets-react-to-global-financial-moves" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Markets React to Global Financial Moves</a></h5>

Crypto Markets React to Global Financial Moves

Table of Contents

BH NEWS

Other articles published on Sep 22, 2024

U.S. Debt Concerns Loom Over Elections

These 6 Cryptocurrencies to Watch Closely in the New Week Due to Expected Developments

Top 7 Altcoins Expected to Multiply Investments by 20,000%

Bitcoin Critic Highlights “Another Reason to Sell Bitcoin”

Eth whale makes $131.72M profit by HODLing through the bear market

Trump lags behind Harris in fundraising and ad spending as election nears

Join our free newsletter for daily crypto updates!