Author: Press Room
Bitcoin (BTC), the world’s largest cryptocurrency, failed to prolong its upward rally and dropped below $28,000 on Friday. Bitcoin had been on a positive trend, reaching a high of $29,000 earlier in the week. Although, it was short-term gains as it dropped below $28,000 today, signaling a bearish sentiment in the market.However, Bitcoin continues to struggle to break through the $28,250 resistance level, while Ethereum is showing signs of consolidation.Crypto Market Fundamentals The reason for its upward rally could be attributed to the bullish US dollar, which rose lately after the release of strong US job growth data, increasing the probability…
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A surprise production cut announcement this week from Saudi Arabia and several other OPEC+ oil producers complicates the Federal Reserve’s mission to cool the economy and could worsen inflation in the United States, economists say. Energy prices across the globe surged last year when Russia invaded Ukraine, fueling global inflation just as the world’s major economies were beginning to rebalance after the pandemic. Since then, a drop in energy prices has helped cool US inflation, which has fallen from a 40-year peak of 9.1% in June to 6% in February, year over year, according to the Consumer Price Index. Energy…
The opposition leader of Thailand has promised to airdrop 10,000 baht ($300) in digital currency to anyone 16 or over should his Pheu Thai Party win the next election. On Wednesday, real estate mogul turned candidate Srettha Thavisin announced the $300 handout policy in the heavily populated central Thai province Nonthaburi, according to a report by the Bangkok Post.Paetongtarn Shinawatra, Pheu Thai’s chief adviser on public participation and innovation, claimed the policy is part of a blockchain-based project designed to distribute Thai products abroad and help introduce digital currencies to Thailand. The $300 airdrop will need to be spent within a 4-kilometer community…
