Bitcoin crosses $107,000 ahead of this week’s Fed decision

Bitcoin rallied to a new all-time high on Monday as investors awaited an expected interest rate cut by the Federal Reserve later this week. The price of the flagship cryptocurrency was last higher by nearly 3% at $106,126.74, according to Coin Metrics. Earlier it rose as high as $107,229.38, a new record. Ether rose 3% to break through the…

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Fed Chair Jerome Powell can serve remainder of term, Scott Bessent says

Federal Reserve Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on Nov. 7, 2024. Kent Nishimura | Getty Images Federal Reserve Chair Jerome Powell can finish his first term leading the U.S. central bank, said Scott Bessent, a hedge fund magnate and President-elect Donald Trump’s pick for Treasury Secretary, despite…

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Bitcoin falls below $100,000 after reaching the milestone level for the first time

The price of bitcoin soared past the long-awaited $100,000 benchmark for the first time ever late Wednesday evening. By Thursday afternoon, the flagship cryptocurrency pulled back from the milestone. It was recently higher by 0.28% at $99,140.00, according to Coin Metrics, trading at the lows of Thursday’s trading following some profit taking by investors. On Wednesday night, it rose…

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Market reckoning on spending is coming after election

Billionaire hedge fund manager Paul Tudor Jones is raising alarms about the U.S. government’s current fiscal deficit and the increased spending promised by both presidential candidates, saying the bond market may force the government’s hand after the election in addressing it. “We are going to be broke really quickly unless we get serious about dealing with our spending issues,”…

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