Forex and other markets news
14.03.2023, 19:16
Bitcoin is hot, it surpasses $26,000.
Bitcoin is hot, it surpasses $26,000.
Bitcoin surged past $26,000, standing above 900,000 baht, hitting a 9-month high today. By rising for the 4th day in a row as investors ease concerns about inflation and the collapse of Silicon Valley Bank (SVB).
Bitcoin rose 10% to $26,533 on the day. which is the highest level since June 2022
The US released the Consumer Price Index (CPI) for February, in line with analyst expectations. and a slowdown from January It indicates that inflation has passed its peak. And will be a factor supporting the Federal Reserve (Fed) to slow down the rate hike.
In addition, investors were concerned about the collapse of SVB after the US introduced deposit protection measures. and established the "Bank Term Funding Program" to prevent the SVB crisis from spreading to other financial institutions
Edward Yardini, president of research firm Yardini, said the SVB collapse would result in the Fed ending its rate-raising cycle earlier than expected.
Bitcoin used to surpass $69,000 in November 2021. which is the highest level in history before sinking below $20,000 in June 2022. amid concerns that The Fed's acceleration in raising interest rates and shrinking its balance sheet will drag down liquidity in the market.
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