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Crypto News, 21 March: Fed's Dovish Turn Fuels Market Boom

21-Mar-2024 By: Lokesh Gupta
Crypto News, 21 Marc

Cryptocurrency prices surged within the last 24 hours

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Crypto News Key Highlights:

  • Bitcoin bounces above $67,000 post-dovish Fed remarks, up 8.12% with $1.3 trillion market cap. Altcoins rally as Wall Street surges, Fed maintains rates, eyes 0.75% cut this year to hit 2% inflation target. Powell expresses optimism, minimal inflation worry, boosts equities. Cryptos surge on spot demand, Ethereum resilience despite regulatory concerns.

  • Peter Schiff expresses concerns about Bitcoin ETFs' limited liquidity during non-U.S. market hours, potentially leaving investors stranded during overnight downturns. Bitcoin's recent drop below $63,000 sparked discussions on its resilience. Schiff scrutinizes MicroStrategy's borrowing for Bitcoin acquisitions, questioning its impact on market stability and investor interests.

  • Bitcoin surges above $67,000 post-Fed's dovish remarks. Despite this, Bitcoin ETFs witness significant outflows totaling $742 million over three days. Grayscale Bitcoin Trust sees substantial outflow, while BlackRock Bitcoin ETF gains $49.28 million. Investors struggle with volatility, prompting on-chain data showing smaller wallets selling amid market uncertainty.

  • Former CFTC commissioner criticizes SEC's Ethereum stance, labeling it "illegal." Quintenz questions SEC's refusal to acknowledge Ethereum as non-security, highlighting approval of Ethereum ETFs. Concerns arise over SEC's approach, potential delays in ETF approvals. Debate reflects broader cryptocurrency community sentiments on regulation.

  • OKX cryptocurrency exchange exits Indian market due to regulatory crackdown. FIU's compliance notices to foreign exchanges, including OKX, led to closure. Users instructed to close accounts, withdraw funds by April 30. OKX's failed registration indicates challenges with evolving regulations. Regulatory actions aim at ensuring AML-CFT compliance.

  • Steve Wozniak, Apple co-founder, won the Bitcoin Scam lawsuit against YouTube in 2020. High Court overruled the lower court's decision, holding YouTube responsible for fake videos using Wozniak's image. This ruling allows Wozniak to pursue the lawsuit. 17 others, including Bill Gates and Elon Musk, also sued YouTube for similar reasons.

  • Layerswap, a cross-chain crypto transfer platform, triumphs over an exploitation attack, returning $100K in lost assets to nearly 50 users. Loopholes in X's 2FA system raised concerns. Rising crypto cyberattacks, including Trezor's recent incident, underscore security challenges amid market growth.

  • Artemis, a crypto market analysis platform, collaborates with Injective Protocol to offer institutional-grade analytics for informed crypto investments. It provides vital blockchain health metrics like DEX volumes and daily transactions. Artemis offers Terminal, Datashare, Sheets, and an API Plugin, empowering users with insights into Injective Protocol activity. Backed by prominent investors, Injective Protocol fosters innovation and growth in the crypto ecosystem.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. #Cryptocurrency and #NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - Crypto Prices Skyrocket Following Powell's Dovish Tone

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