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Bitcoin Price Flux Near $42K, Fed Decides No Rate Cuts – Crypto News

Published

2 years ago

February 1, 2024

Dripp

Cryptocurrency News LIVE Updates: Bitcoin, the world’s first-ever digital currency, once again curated a tidal wave of speculations across the broader crypto market on Thursday as the token briefly slipped below the $42 mark. As of press time, the token noted a 2.10% plunge over the past 24 hours and is currently trading at $42,025, whereas, the price continuously moved to and fro the $42K mark today, birthing additional inferences among crypto market enthusiasts. Meanwhile, top altcoins like Ethereum, XRP, and Solana noted a 2%-7% drop, nabbing significant attention across the crypto market.

On the other hand, Federal Reserve Chair James Powell spotlighted the Fed’s decision to keep the interest rates unchanged till the next FOMC meeting. Powell stated that the current inflation is too high when compared to the 2% target rate set by the central bank. Aligning with this, the Federal Reserve ruled out the decision to keep the benchmark rate in the 5.25%-5.50% range, echoing a wave of frenzy across the U.S.

10:43:46 AM IST, 1 February 2024

Crypto News LIVE: Shiba Inu Burn Rate Soars 200%

As per Shiba Inu’s burn tracker Shibburn, the meme coin’s burn rate jumped 219.78% over the past day, nabbing significant attention globally. A staggering 15.57 million SHIB has been incinerated in the last 24 hours, falling in line with the jump in SHIB burn rate.

HOURLY SHIB UPDATE$SHIB Price: $0.0000089 (1hr -0.07% ▼ | 24hr -2.37% ▼ )
Market Cap: $5,251,553,293 (-2.19% ▼)
Total Supply: 589,291,864,206,827

TOKENS BURNT
Past 24Hrs: 15,573,546 (219.78% ▲)
Past 7 Days: 117,784,032 (-42.71% ▼)

— Shibburn (@shibburn) February 1, 2024