Bitcoin peaks at $27,460 before retracing as investors gauge Fed’s direction

Published by
City AM

By Darren Parkin Bitcoin broke through $27k yesterday and continued climbing until it met resistance at $27.4k this morning, before eventually settling around $26.8k. Some analysts point to signs that the Federal Reserve Bank is likely to pause rate hikes in its meeting this week as the reason for the mini-rally. There’s a lot of work to be done before the Fed can take its foot of the gas, say the experts, but signs of a slowdown in the global economy has traders betting that rates will remain unchanged, at least for now. “Traders see a roughly 97% chance that the central bank keeps rates unch…

Read More