Posted 11/7/2023, 5:51:00 PM
Bitcoin Holds Above $34K as Fed Stays Hawkish Despite Softening Economy
- Bitcoin price holding steady above $34,500 as Fed maintains hawkish stance on interest rates
- Fed committed to fighting inflation, even as signs emerge of a softening economy and disinflation
- Softer economic data seen as potentially bullish for stocks and Bitcoin amid uptrend
- Bitcoin dominance remains strong, with altcoins also showing strength in crypto market
- 88.5% of Bitcoin holders haven't moved coins in past 3 months, underscoring conviction amid +110% YTD gain