News Room

2 2 月, 2024

BTSE Weekly Digital Asset Report – February 2nd

BTSE Weekly Digital Asset Industry Report Dec 1st

Welcome to the latest edition of our Market Roundup, where we delve into the key movements and trends that have shaped the world of blockchain and digital currencies over the past week. This week’s biggest headline came from the U.S. Federal Reserve’s policy announcement on Wednesday, where the benchmark Fed funds rate range was maintained at 5.25% – 5.50%. This was a widely anticipated decision; however, the central bank’s cautious stance on future rate cuts has stirred the market. The Fed’s statement emphasized that it only foresees a reduction in the target range once there is more substantial evidence that inflation is moving toward the 2% target. This has notably impacted market sentiments, with the probability of a rate cut at the Fed’s March meeting dropping to just over 50%, a significant shift from the nearly 65% chance priced in before the announcement. This cautious stance from the Fed, coupled with remarks from Chair Jerome Powell hinting at delayed interest rate cuts, has sent ripples through the digital asset market. Bitcoin, Ethereum, and other major digital assets experienced notable volatility, each swinging between their own highs and lows over the past 7 days.


  • Enhancing Security in Digital Assets: Valkyrie Investments has taken a significant step in the digital asset sector by partnering with BitGo as the custodian for its forthcoming spot Bitcoin ETF. This collaboration is aimed at reinforcing the security and integrity of digital asset investments.
  • US Lawmakers Challenge SEC Digital Asset Policy: Members of Congress, led by Sen. Cynthia Lummis and Reps. Wiley Nickel and Mike Flood, are taking action against an SEC accounting bulletin that places limitations on firms holding customer digital assets, aiming to formally reject the rule.
  • El Salvador’s Continued Digital Asset Commitment: El Salvador continues to champion Bitcoin, steadfast in its commitment to integrating the digital asset into its national economy. This determination is underscored by the country’s ongoing efforts post-elections to maintain Bitcoin as legal tender.
  • India’s CBDC Developments: Insights into India’s central bank reveal a nuanced stance towards the country’s exploration of a Central Bank Digital Currency (CBDC). This development signals India’s cautious yet forward-looking approach to integrating digital currencies into its financial system.
  • Tether’s Financial Triumph:’s unprecedented financial performance, with quarterly profits surpassing those of traditional financial giantGoldman Sachs, marks a watershed moment for the stablecoin issuer and the broader digital asset market.
Share this Post

Share This Post

Related Posts