Finance

Binance exec insists bitcoin can recover despite 20% drop | Future Focus

Published

3 months ago

August 16, 2024

Binance exec insists bitcoin can recover despite 20% drop | Future Focus

On this week’s episode of Yahoo Finance Future Focus, our host Brian McGleenon interviews Vishal Sacheendran, Binance’s Head of Regional Markets, to discuss the current state of the cryptocurrency market. Despite bitcoin being down over 20% from its all-time high of $73,000 reached in May, Sacheendran suggests that several potential bullish catalysts could drive a recovery. Sacheendran expresses confidence that the current downturn in bitcoin and the broader cryptocurrency market doesn’t signal a long-term negative trend. He points to several factors that could benefit the digital asset, including the anticipated start of a U.S. Federal Reserve rate-cutting cycle and the upcoming U.S. presidential election, where pro-crypto candidates like Donald Trump and Robert F. Kennedy Jr. are making waves. Sacheendran emphasises the increased synchronicity between traditional financial markets and the cryptocurrency market, noting the growing presence of institutional investors and the introduction of Bitcoin and Ethereum ETFs. He highlights that market sentiment is optimistic, with the CME FedWatch tool showing a significant likelihood of a rate cut in September, which could further support a rebound in the cryptocurrency market.

Related Topics:Cryptocurrency Market market sentiment Vishal Sacheendran

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Finance

New Blueprint for Financing Community Development (SSIR)

Published

2 hours ago

November 19, 2024

Press Room

New Blueprint for Financing Community Development (SSIR)

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Finance

Top bankers stress resilience and wisdom key to navigating uncertainty

Published

10 hours ago

November 19, 2024

Press Room

Top bankers stress resilience and wisdom key to navigating uncertainty

The leaders of some of the world’s biggest financial companies firmly believe “resiliency and wisdom” hold the key to a global economy facing geopolitical tensions, financial market jitters and uncertainty about the coming transition in Washington.

Market participants should handle the challenges coming from all directions step by step while keeping faith that the issues can be resolved, they said at the Global Financial Leaders’ Investment Summit in Hong Kong on Tuesday. The event, organised by the Hong Kong Monetary Authority, is in its third year and this year’s theme is “Sailing through changes.”

“We’re seeing everyone recognise we’ve got to build up resiliency,” said Jane Fraser, CEO of Citigroup. “It’s easy to say globalisation is dead. It’s not. It’s just changing tremendously.”

BNP Paribas chairman Jean Lemierre said trade is a matter of negotiation. “The end result will be an agreement because otherwise it would be terrible for each of us.”

Lemierre said that wisdom should lead to solutions for trade tensions, which is all about “tariff, quota, reciprocity and timing”.

“We know the parameters of the discussion, so wisdom should lead to this type of approach,” he said.

Finance

COP29: Carbon Finance Summit – Session 2

Published

18 hours ago

November 18, 2024

Press Room

Greening and scaling up public finance is critical, but it is not enough. Significantly scaling up private sector finance, including through greening value chains, green financial products (e.g. funds and loans) and carbon finance is needed to channel more resources toward activities with a positive impact on the environment and society.