Turkey’s Central Bank Raises Key Interest Rate to 25%, Strengthening Lira

Turkey’s Central Bank has increased its key interest rate to 25%, more than the 20% that economists expected. Following the news, the Turkish Lira has gained slightly against the Dollar and the Euro.The aggressive move comes as a shock to observers, as the previous primary policy rate stood at 17.5%. The hike indicates that Turkey […]

Chainlink Price Drops 4% Amid Crypto Market Correction

Chainlink (LINK) price has dropped 4% on Aug 24, following a broader crypto market correction. The drop appears to be influenced by macroeconomic catalysts, such as Jerome Powell’s economic outlook at the annual Jackson Hole symposium and the Federal Reserve Bank of Boston President Susan Collins’s signal of more rate hikes.From a fractal standpoint, Chainlink’s […]

Declining Pre-Owned Home Sales Impact US Economy

The US housing market has experienced a decline in pre-owned home sales in July, dropping to the lowest level in six months. This is due to rising mortgage prices, a small inventory of available homes, and fewer prospective buyers entering the market. The decline in home sales has a ripple effect on the US economy, […]

Crypto Traders Brace for Volatility as Bitcoin Plunges

Bitcoin traders are preparing for a period of increased volatility in the market, according to the latest Bitfinex Alpha report. Last week, the asset experienced a sudden plunge towards the $25,000 mark, resulting in over $1 billion in futures liquidations.On-chain data analyzed by researchers at crypto exchange Bitfinex showed a surge and flatline in implied […]