Bitcoin Price Rises. What the Fed Meeting Means for Cryptos. — Barrons.com
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By Alex Kozul-Wright
The price of Bitcoin was rising early Tuesday. Both hostilities in the Middle East, and the start of the Federal Open Market Committee meeting, could set the tone for risk assets.
The price of Bitcoin was up 1.09% to $74,038 over the past 24 hours, according to CoinDesk data. The world's premier cryptocurrency briefly surged to almost $76,000 in that period before retreating. Ethereum and alt-coin XRP also posted gains — by 2.2% and 2.9%, respectively.
"Macro remains in focus [for cryptocurrency investors] with central bank decisions ahead as oil strength feeds inflation concerns," said Maryellen Stohlman-Vanderveen, an associate at Eterna Partners.
Digital assets have performed better than many traditional assets since the outbreak of the war in Iran, acting as a kind of hedge against geopolitical uncertainty. Still, they remain sensitive to economic policy decisions.
The Fed is expected to keep interest rates on hold at its two-day FOMC meeting. But crypto investors will be watching for updates on forecasts in the wake of recent energy price surges. Digital asset prices and interest rates typically move in opposite directions.
Meanwhile, Strategy — the biggest corporate holder of Bitcoin — recently purchased even more of the world's largest cryptocurrency. Strategy bought 22,337 Bitcoins for $70,194 each, or $1.57 billion in total, between March 9 and Sunday, a securities filing Monday showed. Strategy shares were flat ahead of the bell Tuesday.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260317001702:0/
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