FED President's statements moved the markets

Fed Chairman Powell, in his statement yesterday, stated that the lagged effects of the Fed's monetary policy rate hikes were not fully reflected on the economy and that they could reduce the rate of interest rate hikes at the December meeting. After Powell's statement, Bitcoin rose to $ 17200 levels. Pavel Durov, CEO of messaging platform Telegram, said that they will create a crypto wallet and a decentralized exchange.

FED President's statements moved the markets

Hong Kong-based blockchain and investment firm Animoca Brands has announced that it will launch a $2 billion fund to invest in Metaverse startups. The European Commission official said that the failure of the FTX exchange was not due to blockchain or crypto assets. Swiss-based cryptocurrency bank SEBA Bank has announced that it will expand to Hong Kong. Leaving behind a day of intense data flow, third-quarter GDP growth in the US was revised from 2.6% to 2.9%. Increases in exports, consumer and public expenditures were influential in the growth data. ADP private sector employment growth, which is the leading indicator for the non-farm employment data to be announced on Friday in the USA, remained below the market expectation of 200,000 with 127 thousand people in November.

In the Beige Book report published by the Fed yesterday, which includes evaluations for 12 Fed regions, it was stated that moderate gains were seen in five regions in terms of economic activity, but there were no changes or decreases were recorded in the remaining regions. After Powell's speech, the US stock markets ended the day with the sharpest rises since November 11. In the crypto market, Bitcoin closed the day with an increase of 4.30% to $ 17200, while Ethereum increased by 6.40% to $ 1300. The dollar index, on the other hand, continues to decline and shows activity around 105.50.