Bitcoin price crosses US$22,000, Fed cools recession fears

The crypto market will rise overnight alongside traditional Asian markets as investors responded to the latest guidance from Federal Reserve officials claiming that recession concerns have been exaggerated on Thursday. did.

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Fast facts

• Bitcoin has risen 8% in the last 24 hours, trading above US $ 22,000, and cryptocurrency market capitalization has exceeded US $ 1 trillion, leading to press time for the first time since June 16, according to CoinGecko data. rice field.
• Both the Dow Jones Industrial Average and the S & P 500 Index rose more than 1% yesterday to close the deal, while the Nasdaq Composite Index rose 2.3% to close the deal, ending its fourth straight day of rise. This is the longest consecutive since March.
• Christopher Waller, member of the Federal Governor’s Commission support In a speech to the National Association for Business Economics on Thursday, another 75 basis point rate hike was made this month, and next month a 50 basis point hike was made to combat inflation.
• St. Louis Federal Reserve Bank of St. Louis James Bullard echoed Waller’s sentiment, however, both officials downplayed the fear of a recession and said Bullard had a “good chance” for a soft economic landing.
• Cryptocurrencies and traditional markets have been hit in recent months concern Rising inflation, the looming recession, the uncertainty caused by the war in Ukraine, and the growing list of crypto companies lined up for bankruptcy.

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