Day: July 27, 2023

Crypto bills pass congressional committee in ‘huge win’ for US crypto

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A key United States House panel has approved a pair of bills that could finally deliver some regulatory clarity to crypto firms — including clarifying the differences in jurisdiction between the US securities and commodities regulators. On July 26, the majority of U.S. lawmakers voted in favor of the Financial Innovation and Technology for the 21st Century Act as well as the Blockchain Regulatory Certainty Act. The House Financial Services Committee approved the Financial Innovation and Technology for the 21st Century Act in a 35-15 vote which would establish rules for…

FOMC Delivers Expected 0.25% Rate Hike, Bitcoin Holds Steady Above $29,000

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The Federal Reserve’s (Fed) decision to raise the Federal Funds Rate (FFR) by 25 basis points to 5.50%, the highest level since February 2021, had little impact on the cryptocurrency market and Bitcoin (BTC), with the event described as “very vanilla” by the Journalist Ted Talks Macro.  The FOMC indicated that achieving its 2% inflation target still has a long way to go and that it will take a data-dependent approach to future rate hikes. While some investors had been hoping for a more hawkish tone from the Fed, the…

Bitcoin Pre-Halving Patterns Suggest Bull Market Is Not Starting In 2023

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The Bitcoin halving is arguably the most important event for the blockchain due to its function. As such, it has played a significant role in when the crypto bull market starts and how long it lasts in most cases. Although there have been slight deviations in how it triggers each bull market, pre-halving data over the years suggests that it keeps to quite a tight schedule. Bitcoin Maintaining Historical Trend While most of the year has seen Bitcoin deviate from many historical trends, leading to speculation that the next bull…