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Meanwhile, the European Central Bank (ECB) also expects to raise interest rates as inflation reaches 7% in the Euro Area. While the ECB was set to deliver a 25 bps rate increase in May, the bank may increase the rate by another 50 bps to control inflation and bring it to the 2% target. advertisement Australia Looks for More Rate Hike to Control Inflation The Board of the Reserve Bank of Australia on May 2 meeting decided to raise interest rate s by 25 bps to 3.85%. The central bank also raised the rate paid on Exchange Settlement balances by 25 bps to 3.75%. The hawkish stance caused the Australian dollar to rise while bond futures tumbled traders expect more pressure after Governor Philip Lowe revealed further tightening to being back inflation under the target range. “Inflation in Australia has passed its peak, but at 7% is still too high and it will be some time yet before it is back in the target range. Given the importance of returning inflation to t...

Bitcoin price has been on a tear, but analysts warn that resolving the U.S debt limit issue could trigger sharp downside for risk assets like BTC. For much of 2022, the crypto market focused on the U.S. Federal Reserve's actions. The central bank created a bearish environment for risk-on assets like Stocks and Cryptocurrencies by increasing the Interest Rates on borrowing.  Toward the end of 2022, positive economic data, healthy employment numbers and a decreasing inflation rate provided hope that a much-awaited slowdown in the rate of interest rate hikes would occur. Currently, the market expects the rate hikes to reduce from 50 basis points (bps) to 25 bps before the complete end of the hike regime by mid-2023. From the perspective of the Fed's goal of constraining liquidity and providing headwinds to an overheated economy and stock market, things are starting to improve. It appears that the Fed's plan of a soft-landing by quantitative tightening to curb inflation witho...

Bitcoin's price recovery in 2023 has witnessed minimal institutional buying, casting doubt on whether BTC will rally beyond $25,000. Bitcoin (BTC) shows the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical and macro indicators. Bitcoin price exits descending channel range First, Bitcoin's potential to hit $25,000 comes from its exit from a prevailing descending channel range. A bull run or bull trap? — Cointelegraph (@Cointelegraph) January 16, 2023 Notably, the BTC price broke out of the range late last week while accompanying a rise in its trading volumes. The cryptocurrency's move upside also pushed the price above its resistance confluence, comprising a psychological price ceiling of $20,000 and its 20-week exponential moving average (20-week EMA; the green wave) near $19,500, as shown below.  BTC/USD 1-week candle chart (Coinbase). Source: TradingView.com Breaking three resistance levels with strong volumes ...