The former Fed chairman says the crypto is too complicated to use as money.
With bitcoin trading lower while Terra's two main tokens plummet, plus a deeper dive into market volatility, CoinDesk’s Markets Daily is back with the latest news roundup.
As inflation peaks, bitcoin traders should be wary of reading too much into data.
The Federal Reserve's biannual report came out on the same day Terra's dollar-pegged UST stablecoin fell below $0.85.
After Jerome Powell’s press conference, all markets reacted aggressively and then swiftly retraced their moves as market sentiment shifted overnight.
Gucci will begin accepting crypto payments at five stores as part of a wider commitment, but the success of its initiatives is uncertain; bitcoin plummets in Thursday trading.
Bitcoin dropped more than 7% on Thursday. The decline was in line with a broad fall in the prices of stocks and bonds.
Crypto markets added nearly 5% to their overall capitalization in the past 24 hours after broader markets jumped following Fed's interest rate hike.
Investors may have been focusing on U.S. interest rate hikes and the economic fallout of Russia’s Ukraine invasion, but bitcoin has been subject to other headwinds; cryptos soar post-rate hike.
BTC rose by 5% over the past 24 hours as bearish sentiment waned.