First Mover Asia: Fed Decision on Stimulus Money Buoys Crypto Markets

Posted on by American Coins & Gold

First Mover Asia: Fed Decision on Stimulus Money Buoys Crypto Markets
(Edited by James Rubin)Good morning. Here’s what’s happening this morning:Market moves: Bitcoin jumps above $49,000 after U.S. Fed’s decision to accelerate stimulus withdrawal.Technician’s take: Bitcoin’s price momentum is stabilizing after several weeks of low trading volume.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.PricesBitcoin (BTC): $48,843 +1.3%Ether (ETH): $4,014 +4.5%MarketsS&P 500: $4,709 +1.6%Dow Jones Industrial Average: $35,927 +1.1%Nasdaq: $15,565 +2.1%Gold: $1,777 +0.2%Market movesBitcoin, the No. 1 cryptocurrency by market capitalization, jumped above $49,000 on Wednesday, after U.S. Federal Reserve officials approved the acceleration of the central bank’s plan to withdraw coronavirus pandemic stimulus…