Bitcoin Soars Near $25K as Inflation, Fed Rate Hopes Rise
• Bitcoin prices remain near $25,000 as investors are optimistic about inflation data and Federal Reserve rate hikes.
• Two crypto executives suggest that the industry must learn from the failings of Signature, Silicon Valley and Silvergate banks in order to develop successful banking relationships.
• Gold prices are steady at $1,909 while the S&P 500 and Nikkei 225 both dipped slightly.
Crypto Market Optimism
Bitcoin prices have held steady near $25,000 over the past 24 hours as investors remain upbeat about recent inflation data and Federal Reserve rate hikes. While Gold prices are steady at $1,909, other major market indices such as the S&P 500 and Nikkei 225 have seen a slight dip in value.
Learning From Banks
Two prominent crypto executives have suggested that the industry must learn from the mistakes made by Signature Bank, Silicon Valley Bank and Silvergate Bank if it hopes to foster productive banking relationships. These executives argued that crypto businesses need to take more responsibility for their actions if they want to be taken seriously by traditional financial institutions.
Alex Thorn, Head of Firmwide Research at Galaxy Exchange will be speaking on „Bitcoin and Inflation: It’s Complicated“ during Consensus 2023 this March 15th. The event provides an opportunity for participants to discuss critical issues affecting cryptocurrency markets today.
The CoinDesk Market Index (CMI) is currently up 24.6 points with Bitcoin (BTC) trading at $24,936 (+577), Ethereum (ETH) trading at $1,715 (+38), Binance token (BNB) trading at $321 (+22), Ripple (XRP) trading at $0.36 (+0.06), and Aave Protocol Token (APT) trading at 12 (+1).
Overall sentiment in crypto markets remain positive despite minor dips in some major indices due to optimism surrounding inflation data and Federal Reserve policies as well as an upcoming insightful event hosted by Consensus 2023 which will feature Alex Thorn discussing Bitcoin’s relationship with inflationary pressures in modern-day finance markets .