Bitcoin holds firm on strong economic data, while Powell testifies to House discussing CBDC

by Derek McKinney | Posted on

Quick Take

  • Strong economic data continues to come out of the U.S., which is the opposite of what Powell wants to see, as job openings (JOLTs) and ADP beat estimates.
  • January (JOLTS) at 10.82M vs. 10.55M est.
  • Bitcoin holds firm on roughly $22,000, while the DXY continues to stay elevated at 105
  • While the GBTC discount narrows to -35%
  • Powell is currently testifying to the House “the terminal rate likely to be higher than expected, “we have not decided on the march meeting, and it is data dependant.”
Fed Futures: (Source: CME)
Fed Futures: (Source: CME)
Currencies: (Source: Trading View)
Currencies: (Source: Trading View)

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