- Daily Dispatch
- Posts
- Bitcoin bounces back ⛹️
Bitcoin bounces back ⛹️
Bitcoin and Ethereum have rebounded after a rough couple of days as the Federal Reserve opted not to change interest rates.
Stephen Graves
May 02, 2024
IN PARTNERSHIP WITH
📝 What you need to know
Bitcoin and Ethereum have largely recovered from Wednesday’s lows, following this week’s Federal Open Markets Committee meeting. Crypto markets tanked ahead of the Fed meeting, in anticipation that interest rates would remain unchanged.
Following the meeting, in which Federal Reserve Chair Jerome Powell stated that it was “unlikely that the next policy rate move will be a hike,” Bitcoin and Ethereum rebounded. But the short-term outlook is still bleak; with interest rates likely to remain high for the foreseeable future, investors are shying away from risk assets like stocks and crypto.
Top Stories
From Our Partner
QuickNode OnChain Report: 2024 Q1
The ever-evolving digital landscape sees continuous innovation, but in the last quarter alone, the blockchain ecosystem has witnessed remarkable transformation. Here’s a report that puts it all in perspective.
This comprehensive report is a collaboration between QuickNode, a premier Web3 infrastructure and developer platform, and Artemis, a cutting-edge institutional data platform for digital assets. Together, they offer a deep dive into the significant commercial progress unfolding across various chains and sectors within the blockchain universe.
💬 Quote of the Day
If this SEC approves a spot Ethereum ETF before the election, I will eat my HODL hat
Matthew Sigel, head of digital assets research, VanEck
