{"id":518391,"date":"2023-02-01T21:26:51","date_gmt":"2023-02-01T21:26:51","guid":{"rendered":"https:\/\/wncen.com\/?p=518391"},"modified":"2024-06-11T11:22:21","modified_gmt":"2024-06-11T11:22:21","slug":"fed-to-put-off-interest-rate-hikes-bitcoin-rallies-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fed-to-put-off-interest-rate-hikes-bitcoin-rallies-heres-why\/","title":{"rendered":"FED To Put Off Interest Rate Hikes, Bitcoin Rallies: Here&#8217;s Why"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Bitcoin is shaking off sellers of January 30, price action on late February 1 shows.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">The FED Raises Interest Rates<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The spark in BTC demand is because of Federal Reserve (FED) Chair Jerome Powell\u2019s comments on the general economy and the central bank&#8217;s monetary policy stance going forward.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In recent months, Bitcoin and crypto prices have been sensitive to inflation readings. News that inflation fell in December 2022 triggered a bull run, with analysts predicting the end of the FED\u2019s hawkish regime in early February.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/why-ark-invest-believes-bitcoin-could-emerge-as-multi-trillion-dollar-market\/\">Why Ark Invest Believes Bitcoin Could Emerge As Multi-Trillion Dollar Market<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Surprisingly, after the FED raised rates, pushing the current fund rate to 4.75%, BTC and crypto prices fell. It was until an hour later when Jerome Powell took to the podium in a highly anticipated presser.\u00a0<\/span><\/p>\n<div class=\"jeg_video_container jeg_video_content\"><\/iframe><\/div>\n<p><span data-preserver-spaces=\"true\">Minutes after the chair began speaking, BTC prices rallied from $22,780 to over $23,500, adding about 3.5%.<\/span><\/p>\n<figure id=\"attachment_518393\" aria-describedby=\"caption-attachment-518393\" style=\"width: 1264px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-518393\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-on-February-1-.png?resize=1264%2C527\" alt=\"Bitcoin Price on February 1-\" width=\"1264\" height=\"527\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-on-February-1-.png?w=1264 1264w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-on-February-1-.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-on-February-1-.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-on-February-1-.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-on-February-1-.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-on-February-1-.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-518393\" class=\"wp-caption-text\">Bitcoin Price on February 1| Source: BTCUSDT on Binance, TradingView<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The chair\u2019s comments on inflation and labor expectations and the route the central bank plans to take in the next few months triggered demand across the financial markets, including Bitcoin.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-monthly-signals-bulls-ready-stampede\/\">Bitcoin Monthly Signals Stack Suggesting Bulls Are Ready To Stampede<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Most importantly, Powell relayed what was mostly expected by traders and investors.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The chair confirmed that inflation has been improving, decreasing in most core sectors, excluding housing. In December, when inflation dropped to 6.5%, it was the sixth consecutive time the critical metric has been tapering after peaking in mid-2022.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While dropping inflation is welcomed, the FED chair said the central bank needs to see more evidence that the critical metric will continue falling in months ahead. Since their intervention and hiking interest rates seem to work, the central bank will maintain a \u201crestrictive stance for sometimes\u201d.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Monitoring Inflation<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Nevertheless, the FED maintains that ongoing rate increases would be appropriate to manage inflation. However, for inflation to fall, the chair adds, the economy has to register below-trend growth characterized by soft labor market conditions.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Amid all this, the FED will monitor inflation and \u201cstay the course until the job is done\u201d.<\/span><\/p>\n<blockquote><p><span data-preserver-spaces=\"true\">Reducing inflation is likely to require a period of below-trend growth and softening labor market conditions. The historical record cautions strongly against prematurely loosening policy. We will stay the course until the job is done.<\/span><\/p><\/blockquote>\n<p><span data-preserver-spaces=\"true\">Deterioration of macroeconomic conditions wouldn\u2019t be a concern for the FED because their goal is to see \u201csustained changes to broader financial conditions\u201d in the long term.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, Chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is shaking off sellers of January 30, price action on late February 1 shows. The FED Raises Interest Rates The spark in BTC demand is because of Federal Reserve (FED) Chair Jerome Powell\u2019s comments on the general economy and the central bank&#8217;s monetary policy stance going forward.\u00a0 In recent months, Bitcoin and crypto prices have been sensitive to inflation readings. News that inflation fell in December 2022 triggered a bull run, with analysts predicting the end of the FED\u2019s hawkish regime in early February. Related Reading: Why Ark Invest Believes Bitcoin Could Emerge As Multi-Trillion Dollar Market Surprisingly, after the FED raised rates, pushing the current fund rate to 4.75%, BTC and crypto prices fell. It was until an hour later when Jerome Powell took to the podium in a highly anticipated presser.\u00a0 Minutes after the chair began speaking, BTC prices rallied from $22,780 to over $23,500, adding about 3.5%. The chair\u2019s comments on inflation and labor expectations and the route the central bank plans to take in the next few months triggered demand across the financial markets, including Bitcoin.\u00a0 Related Reading: Bitcoin Monthly Signals Stack Suggesting Bulls Are Ready To Stampede Most importantly, Powell relayed what was mostly expected by traders and investors. The chair confirmed that inflation has been improving, decreasing in most core sectors, excluding housing. In December, when inflation dropped to 6.5%, it was the sixth consecutive time the critical metric has been tapering after peaking in mid-2022. While dropping inflation is welcomed, the FED chair said the central bank needs to see more evidence that the critical metric will continue falling in months ahead. Since their intervention and hiking interest rates seem to work, the central bank will maintain a \u201crestrictive stance for sometimes\u201d. Monitoring Inflation Nevertheless, the FED maintains that ongoing rate increases would be appropriate to manage inflation. However, for inflation to fall, the chair adds, the economy has to register below-trend growth characterized by soft labor market conditions.\u00a0 Amid all this, the FED will monitor inflation and \u201cstay the course until the job is done\u201d. Reducing inflation is likely to require a period of below-trend growth and softening labor market conditions. The historical record cautions strongly against prematurely loosening policy. We will stay the course until the job is done. Deterioration of macroeconomic conditions wouldn\u2019t be a concern for the FED because their goal is to see \u201csustained changes to broader financial conditions\u201d in the long term. Feature image from Canva, Chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":518392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,2007,2438,87756],"class_list":["post-518391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-fed","tag-inflation","tag-jeremy-powell"],"acf":[],"yoast_head":"\n<title>FED To Put Off Interest Rate Hikes, Bitcoin Rallies: Here&#039;s Why<\/title>\n<meta name=\"description\" content=\"The FED is halting interest rate hikes on falling inflation, boosting Bitcoin and crypto assets across the board.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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