S&P 500 · Bitcoin · Kevin Warsh · South Korea · Federal Reserve (FED) · Cointelegraph
Bitcoin price steadies around $82K after Fed’s Warsh avoids rate-hike hints
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◎ Multiple-sources
Bitcoin held above $80,000 as South Korean tech stocks recovered from a sell-off and traders lowered their expectations for a Federal Reserve interest-rate hike.
Key facts
- US stocks largely avoided the sell-off in Asian markets but were mixed on Friday, with the tech-heavy Nasdaq Composite Index down 0.5% and the S&P 500 up 0.5%
- The US 10-year yield stood at 5.07% on Friday, having briefly attempted to reverse higher, reaching 5.13%
- Bitcoin (BTC) traded near $82,000 around Friday’s Wall Street open as crypto markets stabilized alongside a rebound in South Korean stocks
- Bitcoin held above $80,000 as South Korean tech stocks recovered from a sell-off and traders lowered their expectations for a Federal Reserve interest-rate hike
Summary
Bitcoin (BTC) traded near $82,000 around Friday’s Wall Street open as crypto markets stabilized alongside a rebound in South Korean stocks. Bitcoin price volatility eased as South Korean stocks rebounded 2% on Friday, offering relief after a steep sell-off. Federal Reserve Chair Kevin Warsh gave no indication of further interest-rate hikes during a public discussion, as traders lowered the odds of a 25-basis-point increase in October to 15%. Analysts warned of difficult choices for Washington as the 10-year US Treasury yield climbed back to 5.13% and US stocks traded in a narrow range.