A false warning indicating that the US government is moving Bitcoin for a possible sell-off, triggering a wave of long liquidations.

The crypto asset fell all week as investors weighed a host of negative developments, including: Earlier, it reached a low of 26,138.19%, the lowest since March 17.

It was last trading down more than 1% at $26,416.31. 11, in the days after the FTX crash, according to coin metrics. If the central bank pauses the rate hike cycle, it will be the first since March 2022.īitcoin is on track to end the week down 10.6%, making it its worst week since Nov. The Philippine central bank will meet and is widely expected to keep its policy interest rate unchanged at 6.25% on Thursday, especially after the economy saw a slight drop in inflation earlier this month. New Zealand will unveil its annual budget for this year on Thursday, which its finance minister described as focused on returning to a “more sustainable fiscal position”. The RBA meeting minutes as well as the first quarter wage price index will be released on Wednesday and Thursday respectively. They are also seeing retail sales rise 20.1% in the month after the economy saw a 10.6% jump in March. Compared to the low base seen in April last year, market watchers largely expect economic indicators to reflect a pickup in growth.Įconomists polled by Reuters had forecast industrial output would grow 10.1 percent year-on-year in April, after a 3.9 percent expansion the previous month.

Economists at Goldman Sachs expect the economy to grow 1.8% qoq as consumption picks up and inventories rebound amid slowing factory activity.Ĭhina releases a slew of economic data on Tuesday: industrial production, retail sales, fixed asset investment growth, as well as the unemployment rate. On Monday, Thailand’s GDP for the first quarter will be released in the morning. See also Biden administration, motorists want to use a 'seamless' electric charging station

Fallen University by Callie Rose