Is Bitcoin heading for $65K? Sharplink buys $16M ETH: Market Moves
Analysts are divided on Bitcoin’s next move, but there’s some hope at last. Meanwhile, SharpLink has resumed buying Ether after an eight-week pause, and other market news.
Bitcoin (BTC) reacted positively to US Federal Reserve Chair Kevin Warsh’s remarks on stubborn inflation. Despite the gains on Wednesday, traders fear that incentives for fixed-income investments and strong earnings momentum in tech stocks will continue to pressure non-yield-bearing assets like cryptocurrencies.
The US five-year Treasury yield jumped to 4.22%, meaning traders demanded higher returns to hold government bonds. Even as inflation eventually eases and WTI crude oil prices fell to a 4-month low, investors anticipate monetary expansion.
