Economy News

On Tuesday, cryptocurrency values experienced a downturn, with Ethereum dipping below the $2,500 mark amid rising geopolitical tensions triggered by Iran’s missile strikes on Israel.

Jrome Powell, Chair of the US Federal Reserve, continues to express optimism about achieving the inflation target of 2%.

Economists are now anticipating a 0.25% interest rate reduction from the European Central Bank (ECB) in October, moving away from prior predictions of a cut in December.

On Tuesday, Pan Gongsheng, the Governor of the People’s Bank of China, revealed a set of economic stimulus measures, marking what some economists view as the central bank’s largest intervention since the Covid-19 pandemic.

Over the past eight years, Bitcoin’s price has shown a consistent positive correlation with the People’s Bank of China’s (PBOC) balance sheet.

Arthur Hayes, co-founder of BitMEX, believes that the quantitative easing (QE) policies being implemented by various governments will have a positive impact on Bitcoin and the overall crypto market.

A prominent cryptocurrency analyst believes the digital assets market will remain strong even if the Federal Reserve reduces interest rates.