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Crude Oil Caught in ECB Maelstrom After Rate Hikes and Hawkishness Prevails

Crude Oil, US Dollar, WTI, Brent, Fed, ECB, BoE, GBP/USD, Gold – Talking Points Crude oil held its ground after sliding on a strong US Dollar overnight The ECB reminded markets of their hawkishness as QT comes into view If the Us Dollar continues to rally, will it send WTO lower?

. . . → Read More: Crude Oil Caught in ECB Maelstrom After Rate Hikes and Hawkishness Prevails

Stock price for troubled Bitcoin miner Core Scientific surges 200%

Bitcoin (BTC) miner Core Scientific’s stock has soared nearly 200% in the past four days, following the positive reception for a Dec. 14 financing proposal from a current creditor that is hoping the firm can avoid bankruptcy.

Shares for the embattled miner were sitting just over 13 cents on Dec. 12, before climbing to . . . → Read More: Stock price for troubled Bitcoin miner Core Scientific surges 200%

Gold and Dow Jones Sink After ECB Spooked Markets, XAU/USD Reversal in Motion?

Gold, XAU/USD, Dow Jones, ECB, Rising Wedge – Asia Pacific Market Open Gold and Dow Jones sink after slew of central banks in Europe Most notable was the ECB, which surprised on the hawkish side XAU/USD breaks under Rising Wedge, hinting at reversal risk

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. . . → Read More: Gold and Dow Jones Sink After ECB Spooked Markets, XAU/USD Reversal in Motion?

SPX, Nasdaq Slide; USD, EUR/USD Tendencies of Turn After CB Onslaught

Indices, USD Talking Points: It was a game of alphabet soup over the past few days with CPI, FOMC, ECB, and the BoE pushing markets ahead of year-end. U.S. equities put in a strong reversal on Tuesday after failing to hold a breakout at the 2022 bearish trendline. USD was bearish through yesterday’s FOMC . . . → Read More: SPX, Nasdaq Slide; USD, EUR/USD Tendencies of Turn After CB Onslaught

Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data

As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend.

The market enters a state of . . . → Read More: Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data

New Zealand Dollar Tops Yield Forecasts and Is Also Top Heavy…

FOMC, RBNZ, Interest Rates, NZDUSD Talking Points: The Market Perspective: NZDUSD Bearish Below 0.6400 In the aftermath of the Fed’s, ECB’s, BOE’s and SNB’s 50 basis point rate hikes; there has been a notable increase in the general level of yield In the monetary policy spectrum, the RBNZ’s benchmark matches its highest counterparts; . . . → Read More: New Zealand Dollar Tops Yield Forecasts and Is Also Top Heavy…

How hard has this bear market been for Bitcoin mining? Watch Market Talks on Cointelegraph

On this week’s episode of Market Talks, Cointelegraph welcomes Drew Vosk, founder of VoskCoin, a cryptocurrency YouTube channel with over 607,000 subscribers.

This week, we take a deep dive into all things crypto from the unique perspective of a Bitcoin (BTC) miner. We get Vosk’s take on the things that are impacting his . . . → Read More: How hard has this bear market been for Bitcoin mining? Watch Market Talks on Cointelegraph

British Pound Price Action Setups: GBP/USD, GBP/JPY, EUR/GBP

British Pound Talking Points:

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It’s been a strong Q4 for the British Pound, and if you could go back to the beginning of the quarter, that probably would’ve been a difficult fact to come to . . . → Read More: British Pound Price Action Setups: GBP/USD, GBP/JPY, EUR/GBP

SPX (S&P 500) Humbled by Trendline Resistance After Hawkish FOMC

S&P500, USD Talking Points

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FOMC Delivers an Unfavorable Message for Stocks – SPX Reacts

S&P 500 Futures have fallen back to the 4000 psychological level as Fed Chair Jerome Powell quashed hoped of rate cuts . . . → Read More: SPX (S&P 500) Humbled by Trendline Resistance After Hawkish FOMC

Should crypto projects ever negotiate with hackers? Probably

“A highly profitable trading strategy” was how hacker Avraham Eisenberg described his involvement in the Mango Markets exploit that occurred on Oct. 11.

By manipulating the price of the decentralized finance protocol’s underlying collateral, MNGO, Eisenberg and his team took out infinite loans that drained $117 million from the Mango Markets Treasury. 

Desperate for . . . → Read More: Should crypto projects ever negotiate with hackers? Probably

EUR Breaking News: ECB Hike Rates by 50bps, EUR/USD Moves Higher

ECB Rate Decision Key Points:

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The European Central Bank has raised interest rates as inflation remains sticky as 2023 approaches. The Central Bank expects to raise rates further based on a significant revision of . . . → Read More: EUR Breaking News: ECB Hike Rates by 50bps, EUR/USD Moves Higher

USD Outlook: Dollar Index (DXY) Finds Support Post-FOMC

Creditor offers Bitcoin miner Core Scientific $72M to avoid bankruptcy

Financial services platform B. Riley has offered Bitcoin (BTC) miner Core Scientific $72 million in financing to avoid bankruptcy and preserve value for Core Scientific stakeholders.

B. Riley, a top lender to Core Scientific with $42 million in loans currently outstanding, outlined the terms of the financing agreement in a Dec. 14 letter noting . . . → Read More: Creditor offers Bitcoin miner Core Scientific $72M to avoid bankruptcy

Alameda tried to redeem 3,000 wBTC days before bankruptcy: BitGo CEO

Mike Belshe, the CEO of digital asset custodian BitGo has confirmed that Alameda Research attempted to redeem 3,000 Wrapped Bitcoin (wBTC) in the days before FTX’s bankruptcy filing on Nov. 11. 

During a Dec. 14 Twitter Spaces hosted by decentralized finance (DeFi) researcher Chris Blec, Belshe confirmed the firm knocked back the redemption request . . . → Read More: Alameda tried to redeem 3,000 wBTC days before bankruptcy: BitGo CEO

Realized losses from FTX collapse peaked at $9B, far below earlier crises

Blockchain analytics firm Chainalysis has attempted to put the FTX collapse into perspective — comparing peak weekly-realized losses in the wake of the exchange’s collapse compared to previous major crypto collapses in 2022.

The Dec. 14 report found the depegging of Terra USD (UST) in May saw weekly-realized losses peak at $20.5 billion, while the subsequent . . . → Read More: Realized losses from FTX collapse peaked at $9B, far below earlier crises

Australian Dollar Reversal Warnings Grow as AUD/USD Falls on Disappointing Chinese Data

Australian Dollar, AUD/USD, Chinese Data, Rising Wedge – Asia Pacific Market Open Australian Dollar falls on disappointing Chinese data Slowing China has downside consequences for Australia AUD/USD bearish reversal warnings continue growing

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The Australian Dollar . . . → Read More: Australian Dollar Reversal Warnings Grow as AUD/USD Falls on Disappointing Chinese Data

Japanese Yen Eyes Support After Fed Failed Convincing Markets About Rate Outlook

Japanese Yen, USD/JPY, Australian Dollar, AUD/USD, FOMC – Asia Pacific Market Open

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Asia-Pacific Market Briefing – Are Markets Setting up for Volatility After the Fed?

The Federal Reserve came and went, leaving financial markets to digest . . . → Read More: Japanese Yen Eyes Support After Fed Failed Convincing Markets About Rate Outlook

EURUSD Outlook Has Technical Pressure and the ECB Rate Decision

S&P 500, FOMC, Dollar and EURUSD Talking Points: The Market Perspective: USDJPY Bearish Below 137; GBPUSD Bullish Above 1.2300; S&P 500 Bearish Below 4,030 The Fed hiked its benchmark rate 50 bps as expected, but the SEP’s 2023 forecast of a 5.1 percent defied market expectations – and yet the market continues discount that . . . → Read More: EURUSD Outlook Has Technical Pressure and the ECB Rate Decision

Bitcoin retraces intraday gains as bears aim to pin BTC price under $18K

On Dec. 14, Bitcoin (BTC) broke above $18,000 for the first time in 34 days, marking a 16.5% gain from the $15,500 low on Nov. 21. The move followed a 3% gain in the S&P 500 futures in three days, which reclaimed the critical 4,000 points support. 

Bitcoin/USD index (orange, left) vs. S&P 500 . . . → Read More: Bitcoin retraces intraday gains as bears aim to pin BTC price under $18K

Here is why Bitcoin price gave back all its intraday gains

On Dec. 14, Bitcoin (BTC) price hit a one-month high and saw a brief resurgence in bullish momentum, but a hawkish report by the Federal Reserve’s Federal Open Market Committee (FOMC)  and comments from Fed chair Jerome Powell sent BTC to an intraday low at $17,659. 

Stocks and Bitcoin started the day slightly up but . . . → Read More: Here is why Bitcoin price gave back all its intraday gains

Dollar Surges and S&P 500 Drops After Fed Hikes 50bps Raises 2023 Forecast

FOMC, Rate Decisions, Dollar, EURUSD and S&P 500 Talking Points: The Market Perspective: Wait for Volatility to Settle in Order to Assess Market View The FOMC announced a 50bp rate hike in line with expectations and have forecasted a terminal rate of 5.1 percent in 2023 In the immediate aftermath of the event, . . . → Read More: Dollar Surges and S&P 500 Drops After Fed Hikes 50bps Raises 2023 Forecast

How to trade crypto using Wyckoff accumulation theory

On Dec. 2, independent market analyst Stockmoney Lizards said Bitcoin (BTC) had entered the process of bottoming out inside its current $15,500-$18,000 price range, citing Wyckoff Accumulation.

Wyckoff Accumulation is a classic technical analysis setup, named after Richard Wyckoff, a technical analysis pioneer in the first half of the twentieth century, who broke . . . → Read More: How to trade crypto using Wyckoff accumulation theory

GBP Breaking News: UK Inflation Declines Beating Estimates, GBP/USD Dips

UK CPI Key Points:

UK CPI Declined to 10.7% Annually, Down from 11.1% in October. The Largest Contribution to the Decrease Came from Cost of Transport (7.2% vs 8.9%), Particularly Motor Fuels (17.2% vs 22.2%) and Second-Hand Cars (-5.8% vs -2.7%). The Annual Core Rate Declined to 6.3% Vs 6.5% Expected.

. . . → Read More: GBP Breaking News: UK Inflation Declines Beating Estimates, GBP/USD Dips

Binance US finally rolls out mobile payments service to US customers

United States crypto exchange Binance US has finally rolled out its Binance Pay service — some 22 months after the feature was launched by the global exchange to its customers outside the U.S. in 2021.

The service, which had a beta version rolled out globally in Feb. 2021 for peer-to-peer payments which was expanded . . . → Read More: Binance US finally rolls out mobile payments service to US customers

US Dollar Languishes in the Aftermath of US CPI and Ahead of the Fed. New Lows for USD?

The US Dollar tanked after a soft CPI number gave the market hope of an end to hawkishness from the Federal Reserve when they meet later today Where to for the DXY (USD) index?

US Dollar, DXY Index, USD, US CPI, Fed, FOMC, ECB, BoE – Talking Points The US Dollar found safe . . . → Read More: US Dollar Languishes in the Aftermath of US CPI and Ahead of the Fed. New Lows for USD?

CFTC declares Ether as a commodity again in court filing

The Commodity Futures Trading Commission (CFTC) has again labeled Ether (ETH) as a commodity, this time in a Dec. 13 court filing — in contrast to statements from chief Rostin Behnam on Nov. 30 suggesting that Bitcoin was the sole cryptocurrency that should be viewed as a commodity.

According to the CFTC, . . . → Read More: CFTC declares Ether as a commodity again in court filing

Dow Jones, S&P 500, Nasdaq 100 Reverse CPI Rally as Traders Look Beyond the Fed Pivot

Dow Jones, S&P 500, Nasdaq 100, US CPI, Yield Curve – Asia Pacific Market Open Dow Jones, S&P 500, Nasdaq 100 reverse CPI-induced rally Markets are seemingly looking beyond the Fed pivot already Shooting Star leaves Dow Jones vulnerable to a pullback next

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Forex for . . . → Read More: Dow Jones, S&P 500, Nasdaq 100 Reverse CPI Rally as Traders Look Beyond the Fed Pivot

EURUSD and VIX Exude Volatility But Not Conviction Heading into Fed Hike

S&P 500, VIX, FOMC, Dollar and EURUSD Talking Points: The Market Perspective: USDJPY Bearish Below 137; GBPUSD Bullish Above 1.2300; S&P 500 Bearish Below 4,030 Despite the presence of the FOMC rate decision Wednesday, the markets reacted to the sharper-than-expected slowdown in US CPI Volatility and trend are two separate matters when it comes . . . → Read More: EURUSD and VIX Exude Volatility But Not Conviction Heading into Fed Hike

Ethereum rallies to $1,350, but derivatives metrics remain neutral to bearish

Ether (ETH) rallied 6.3% to $1,350 on Dec. 13, mimicking a similar failed attempt that took place on Nov. 10. Despite reaching the highest level in 33 days, the gains were not enough to instill confidence in traders according to two key derivatives metrics.

Ether/USD price index, 12-hour. Source: TradingView

Bulls’ frustrations can partially . . . → Read More: Ethereum rallies to $1,350, but derivatives metrics remain neutral to bearish

Crude Oil Technical Analysis: Oil Bounces from Fibonacci Support

Crude Oil Talking Points: Oil prices are holding on to a second consecutive day of gains after support showed at a Fibonacci level on Friday. There’s a short-term falling wedge here and resistance is confluent with another Fibonacci level, opening the door for bullish reversal potential if buyers can push the theme. The . . . → Read More: Crude Oil Technical Analysis: Oil Bounces from Fibonacci Support

Can Bitcoin survive a Carrington Event knocking out the grid?

“In a massive solar storm, which would be hugely damaging to a modern economy’s infrastructure, the blockchain parts might well be the only parts that survive.” — Jason Potts

What was the Carrington Event?

In a November 1859 meeting of the Royal Astronomical Society, British astronomer Richard Christopher Carrington reported to the esteemed scientific . . . → Read More: Can Bitcoin survive a Carrington Event knocking out the grid?

Markets Pro delivers up to 1,123% ROI with quant-style crypto analysis for investors

Since Cointelegraph Markets Pro launched — bringing professional crypto market intelligence to every investor — the platform has helped thousands of subscribers to better understand the opportunities and threats inherent in the world of crypto investing and trading.

In this brief, we want to draw attention to some highlights since the platform’s launch, including . . . → Read More: Markets Pro delivers up to 1,123% ROI with quant-style crypto analysis for investors

What is a golden cross pattern and how does it work?

A golden cross pattern on the charts excites crypto traders for its promises of profitable opportunities ahead, largely due to its impressive success rate in traditional markets.

The golden cross tends to preceded sustained uptrends in contrast with the bearish death cross pattern. For instance, since 1970, the S&P 500 has been returning about 15% . . . → Read More: What is a golden cross pattern and how does it work?

GBP/USD Flat Despite Positive UK Employment Data

KEY POINTS:

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Most Read: The CPI and Forex: How CPI Data Affects Currency Prices

GBP/USD FUNDAMENTAL BACKDROP

Cable edged higher against the greenback this morning flirting with the 1.23000 level following positive UK employment . . . → Read More: GBP/USD Flat Despite Positive UK Employment Data

Not medical advice: Bitcoiner implants Lightning chip to make BTC payments by hand

The Lightning Network continues to shock the Bitcoin (BTC) community. A swiss IT Professional called F418 (not his real name) surgically implanted a Lightning-enabled chip into his right hand to make Lightning Network (LN) payments.

An X-Ray image of the chip implanted into F418’s hand. Source: Youtube

Speaking with Cointelegraph, F418 said he experimented . . . → Read More: Not medical advice: Bitcoiner implants Lightning chip to make BTC payments by hand

Crude Oil Gains on Upbeat Mood Ahead of US CPI. Will WTI Continue to Climb?

Crude Oil, Hong Kong, China, US, WTI, Brent, US CPI – Talking Points Crude oil procured higher ground on hopes of a China re-opening The US and China are squaring off on another geopolitical front US CPI lies in wait as currency and Treasuries pause. Will inflation lift WTI?

Recommended . . . → Read More: Crude Oil Gains on Upbeat Mood Ahead of US CPI. Will WTI Continue to Climb?

Gold Price Outlook Now Turns to CPI Data as XAU/USD Flirts With Wedge Breakout

Gold, XAU/USD, US CPI, Fed, Rising Wedge, Technical Analysis – Briefing: Gold prices fell as the US Dollar and Treasury yields gained Will an upward inflation surprise bring down the yellow metal? XAU/USD is eyeing a bearish Riding Wedge before the CPI data

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How . . . → Read More: Gold Price Outlook Now Turns to CPI Data as XAU/USD Flirts With Wedge Breakout

13% of Americans have now held crypto: JPMorgan research

Around 13% of the American population — or 43 million people — have held cryptocurrency at some point in their lives, new research from JPMorgan Chase has revealed.

According to a Dec. 13 report titled “The Dynamics and Demographics of U.S. Household Crypto-Asset Use,” this number has risen dramatically since before 2020, when the . . . → Read More: 13% of Americans have now held crypto: JPMorgan research

VIX Surges Higher as Equities Jump Ahead of Inflation, Rate Decision Distortion

S&P 500, VIX, CPI Inflation, Dollar and USDJPY Talking Points: The Market Perspective: USDJPY Bearish Below 137; GBPUSD Bullish Above 1.2300; S&P 500 Bearish Below 4,030 Monday was the ‘quietest’ day of the week, yet the New York Fed’s consumer inflation expectations update may have charged the S&P 500’s 1.4 percent climb While ‘risk’ . . . → Read More: VIX Surges Higher as Equities Jump Ahead of Inflation, Rate Decision Distortion

Bitcoin’s bear market is far from over, but data points to improving investor sentiment

It’s been a near-unprecedented year of extremes and black swan events for the crypto market, and now that 2022 is about to wrap up, analysts are reflecting on the lessons learned and attempting to identify the trends which may point to bullish price action in 2023. 

The collapse of Terra Luna, Three Arrows Capital . . . → Read More: Bitcoin’s bear market is far from over, but data points to improving investor sentiment

S&P 500 Technical Analysis: Falling Wedge into CPI, FOMC

S&P 500 Talking Points:

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Tomorrow brings the release of CPI data for the month of November and throughout this year, CPI has been a major driver for stocks. Earlier in the year as CPI was . . . → Read More: S&P 500 Technical Analysis: Falling Wedge into CPI, FOMC

Price analysis 12/12: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

The consumer price index (CPI) data on Dec. 13 and the outcome of the Federal Reserve meeting on Dec. 14 could influence the United States stock markets and the cryptocurrency markets in the near term.

Traders are likely to play it safe and not take large directional bets until the CPI print because any . . . → Read More: Price analysis 12/12: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

Gold Price Outlook – All Eyes on the Federal Reserve for Guidance

Gold Price (XAU/USD), Chart, and Analysis Multi-month resistance remains in place. Short of higher highs/higher lows has stalled for now.

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The US dollar and US Treasury yields are little changed as we start the week with . . . → Read More: Gold Price Outlook – All Eyes on the Federal Reserve for Guidance

‘Biggest week of the year’ — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts one of the most important macro weeks of the year in a precarious position below $17,000.

After its latest weekly close, BTC/USD showed little upward momentum prior to the Dec. 12 Wall Street open.

With volatility yet to appear, the largest cryptocurrency continues to trade in a narrow range, and analysts . . . → Read More: ‘Biggest week of the year’ — 5 things to know in Bitcoin this week

Paxful CEO preaches Bitcoin self-custody, advises against crypto exchange

The case for self-custody grows stronger as investors demand evidence of their assets over crypto exchanges. While some CEOs chose to double down on assuring the funds’ safety on their platforms, Ray Youssef, the CEO of crypto exchange Paxful, sided with the idea of self-custody as he took responsibility for over 11 million . . . → Read More: Paxful CEO preaches Bitcoin self-custody, advises against crypto exchange

GBP Breaking News: Pound Undeterred by UK GDP Beat Due to Strike Action

POUND STERLING TALKING POINTS Services sector helps boost UK GDP numbers above pre-COVID levels. UK strikes limiting pound upside. Rising wedge break looming.

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GBP/USD FUNDAMENTAL BACKDROP

The British pound was muted in its reaction . . . → Read More: GBP Breaking News: Pound Undeterred by UK GDP Beat Due to Strike Action

Arthur Hayes: Bitcoin bottomed as ‘everyone who could go bankrupt has gone bankrupt’

Arthur Hayes, the former CEO of crypto derivatives platform BitMEX, thinks the worst might be over for Bitcoin (BTC) this cycle as the “largest most irresponsible entities” have run out of BTC to sell.

“Looking forward, pretty much everyone who could go bankrupt has gone bankrupt,” he said in the Dec. 11 interview . . . → Read More: Arthur Hayes: Bitcoin bottomed as ‘everyone who could go bankrupt has gone bankrupt’

Euro Dips as the US Dollar Firms Post PPI and Ahead of CPI. Will EUR/USD Break Higher?

Euro, EUR/USD, US Dollar, AUD/USD, China, Crude Oil, Gold – Talking Points

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The Euro is weaker today as the US Dollar gains ahead of a crucial week of central bank meetings and data.

The . . . → Read More: Euro Dips as the US Dollar Firms Post PPI and Ahead of CPI. Will EUR/USD Break Higher?

Crypto spam bots go silent as Musk promises to prosecute scammers

Elon Musk’s latest salvo in his war against crypto spam bots on Twitter appears to have made a real impact, with the crypto community reporting a vast reduction in the number of bots responding to their posts. 

In a Dec. 11 post, the Twitter CEO hinted that “bots are in for a surprise . . . → Read More: Crypto spam bots go silent as Musk promises to prosecute scammers

Bitcoin’s boring price action allows XMR, TON, TWT and AXS to gather strength

The relief rally in the United States equities markets took a breather this week as all major averages closed in the red. Traders seem to have booked profits before the busy economic calendar next week.

The S&P 500 index dropped 3.37%, but a minor positive for the cryptocurrency markets is that Bitcoin (BTC) has . . . → Read More: Bitcoin’s boring price action allows XMR, TON, TWT and AXS to gather strength

Markets Week Ahead: Dow Jones, US Dollar, Gold, Euro, British Pound, Fed, ECB, BoE

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Market volatility came back to life this past week as the VIX ‘fear gauge’ soared almost 20 percent, the most since August. On Wall Street, the Dow Jones, S&P 500 and Nasdaq 100 . . . → Read More: Markets Week Ahead: Dow Jones, US Dollar, Gold, Euro, British Pound, Fed, ECB, BoE

Gold (XAU/USD) Forecast: Recent Gains May Come Under Pressure as US Data Takes Center Stage

FUNDAMENTAL FORECAST FOR GOLD PRICE: NEUTRAL

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GOLD WEEK IN REVIEW

Gold has spent the majority of the week trying to recover Monday’s steep decline as positive news from China and a weaker dollar helped the . . . → Read More: Gold (XAU/USD) Forecast: Recent Gains May Come Under Pressure as US Data Takes Center Stage

Dollar Forecast Loaded with Volatility Potential but Can It Find a Trend?

US Dollar Fundamental Forecast Talking Points: The Dollar has put in for a significant retreat these past few months, but recent bearish progress has come at a much more reserved tempo Event risk ahead is dense and may overlap in terms of market-moving potential, particularly between Tuesday’s CPI and Wednesday’s FOMC decision Market . . . → Read More: Dollar Forecast Loaded with Volatility Potential but Can It Find a Trend?

Goldman Sachs buying crypto firms, FTX news, 3AC and Celsius updates: Hodler’s Digest Dec. 4-10

Top Stories This Week 7 class action lawsuits have been filed against SBF so far, records show

Former FTX CEO Sam Bankman-Fried has been named in seven class action lawsuits filed since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and investigations examining the crypto exchange and . . . → Read More: Goldman Sachs buying crypto firms, FTX news, 3AC and Celsius updates: Hodler’s Digest Dec. 4-10

5 tips for investing during a global recession

The economy is facing an outlook bleaker than a Welsh weather forecast, and few are rushing to buy risk assets. Here are a few tips for weathering unfavorable market conditions.

Option #1: Save cash

There’s no shame in sitting on the sidelines and saving cash or stablecoins.

When bullish momentum returns, you . . . → Read More: 5 tips for investing during a global recession

Bitcoin price liquidation risk increases as BTC struggles to reclaim $18K

Bitcoin (BTC) price had a mixed reaction on Dec. 9 after the November report on United States producer prices showed a 7.4% increase versus 2021. The data suggested that wholesale costs continued to rise and inflation may last longer than investors had previously believed. Oil prices are also still a focus for investors, with . . . → Read More: Bitcoin price liquidation risk increases as BTC struggles to reclaim $18K

What is spot trading in crypto and how does it work?

Since their inception, cryptocurrencies have seen rapid growth and widespread market adoption, as evidenced by the assets tied to crypto assets that have started to appear in the portfolios and trading methods of numerous asset managers. The process of purchasing and selling cryptocurrencies to profit is known as cryptocurrency trading. 

Trading in cryptocurrencies can . . . → Read More: What is spot trading in crypto and how does it work?

Bitcoin bulls protect $17K as trader eyes key China BTC price catalyst

Bitcoin (BTC) maintained $17,000 support into Dec. 10 ahead of a critical week of macro data.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI print will make Fed “slow down”

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded sideways after the close of trading on Wall Street.

The pair looked . . . → Read More: Bitcoin bulls protect $17K as trader eyes key China BTC price catalyst

GBP Weekly Outlook: Resilient Pound Prepares for Data Heavy Week

POUND STERLING ANALYSIS & TALKING POINTS Lackluster USD could be stimulated next week leaving GBP vulnerable. Stacked economic calendar for both UK and U.S.. Rising wedge break looms.

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GBP/USD FUNDAMENTAL FORECAST: BEARISH

The British . . . → Read More: GBP Weekly Outlook: Resilient Pound Prepares for Data Heavy Week

Australian Dollar Outlook: US Dollar Remains in the Driver Seat for AUD/USD

Australian Dollar Forecast: Bearish

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The Australian Dollar tumbled through the first few days of last week before steadying going into the weekend on a run up toward 68 cents.

The RBA rate decision had little impact . . . → Read More: Australian Dollar Outlook: US Dollar Remains in the Driver Seat for AUD/USD

Data shows the Bitcoin mining bear market has a ways to go

Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector.

It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a 70% discount.

. . . → Read More: Data shows the Bitcoin mining bear market has a ways to go

Last S&P 500 and Dollar Volatility Charge of 2023 with FOMC, CPI and Much More

S&P 500, VIX, FOMC, ECB, EURUSD and USDJPY Talking Points: The Market Perspective: USDJPY Bearish Below 137; GBPUSD Bullish Above 1.2300; S&P 500 Bearish Below 4,030 We are moving into a week that is loaded with event risk – in fact it may be overloaded in so much as events like CPI and the . . . → Read More: Last S&P 500 and Dollar Volatility Charge of 2023 with FOMC, CPI and Much More

Ethereum and Litecoin make a move while Bitcoin price searches for firmer footing

Crypto price action has been rough over the past few months, but a few green shoots are finally beginning to emerge.

While Bitcoin (BTC) remains in a downtrend, its price has recently found support at the $17,000 level, and ping-pong price action in the $16,700–$17,300 range appears to be allowing traders to pursue some . . . → Read More: Ethereum and Litecoin make a move while Bitcoin price searches for firmer footing

A year after Taproot, Bitcoin community works to unlock its DeFi potential

Taproot support across the industry is still crawling one year after the Bitcoin soft fork, indicating a strong potential for innovation and broader adoption of Web3 solutions to be unlocked through the world’s largest cryptocurrency, sources told Cointelegraph. 

“Since early on, Satoshi predicted that layers being built on top of the Bitcoin blockchain would . . . → Read More: A year after Taproot, Bitcoin community works to unlock its DeFi potential

US regulator seeks feedback on DeFi’s impact on financial crime: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

The United States regulators want to take a closer look at money laundering and terror financing laws by the Financial Crimes Enforcement Network (FinCEN), as it asked banking . . . → Read More: US regulator seeks feedback on DeFi’s impact on financial crime: Finance Redefined

Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

The United States equities markets are headed for a down week as market participants remain cautious ahead of next week’s key consumer price index data for November.

The CPI report will be followed by the Federal Reserve’s Federal Open Market Committee meeting on Dec. 13-14 where the central bank is expected to hike rates by . . . → Read More: Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

S&P 500, Nasdaq 100 Outlook – Thumb Twiddling Ahead of The Fed

S&P 500 and Nasdaq 100 Forecasts and Analysis S&P 500 – Stuck in the middle of this week’s range. Nasdaq 100 – Boxed in for Christmas?

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The US equity markets have drifted lower this . . . → Read More: S&P 500, Nasdaq 100 Outlook – Thumb Twiddling Ahead of The Fed

BTC price tests $17K on PPI as Bitcoin analysts eye CPI, FOMC catalysts

Bitcoin (BTC) fell on the Dec. 9 Wall Street open as United States economic data appeared to disappoint markets.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Attention turns to Bitcoin vs. CPI “big trigger”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to come closer to $17,000 after passing the level overnight.

. . . → Read More: BTC price tests $17K on PPI as Bitcoin analysts eye CPI, FOMC catalysts

Michigan Consumer Sentiment Rises: Business Conditions Improve, Inflation Cools

University of Michigan Consumer Sentiment Report: All Readings Rise Index of Consumer Sentiment 58.1 vs 56.8 (Nov) Index of Economic Conditions 60.2 vs 58.8 (Nov) Index of Consumer Expectations 58.4 vs 55.6 (Nov)

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Consumer sentiment made a stark improvement on last . . . → Read More: Michigan Consumer Sentiment Rises: Business Conditions Improve, Inflation Cools

US Dollar (DXY) Outlook – One Last US Data Drop Before CPI and FOMC Next Week

US Dollar (DXY) Price and Chart Analysis Today’s data will set the tone for early next week. The US dollar is sitting on range support.

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The US dollar continues this week’s range trading, helped . . . → Read More: US Dollar (DXY) Outlook – One Last US Data Drop Before CPI and FOMC Next Week

Crude Oil Forecast: Brent Overcome by Recessionary Pressures Despite Several Fundamental Tailwinds

BRENT CRUDE OIL (LCOc1) TALKING POINTS Drop in weekly crude stocks unable to deter crude oil bears. Closure of major U.S. pipeline gives Brent welcome support. U.S. PPI and consumer sentiment in focus for USD.

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. . . → Read More: Crude Oil Forecast: Brent Overcome by Recessionary Pressures Despite Several Fundamental Tailwinds

Remote work triggers move to DAOs in the post-pandemic world: Survey

A survey sample of working Americans suggests that millennial and Generation Z workers are far more in favor of joining decentralized autonomous organizations (DAOs) and working remotely in the post-Covid-19 world.

Over 1,100 Americans took part in a survey conducted by MetisDAO Foundation which explores trends in remote working preferences and the emergence . . . → Read More: Remote work triggers move to DAOs in the post-pandemic world: Survey

EUR/USD at Key Inflection Point Ahead of US PPI Data

KEY POINTS:

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EUR/USD FUNDAMENTAL BACKDROP

EUR/USD continues its grind higher in early European trade as key US data events lie ahead. It has been a rather mixed week for EUR/USD with two days of . . . → Read More: EUR/USD at Key Inflection Point Ahead of US PPI Data

Bitcoin price targets stretch to $19K as BTC jumps 4% from daily lows

Bitcoin (BTC) stayed higher after a $17,000 liquidity grab on Dec. 9 as traders targeted further upside.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin attempts new monthly high

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD cooling volatility once more after hitting $17,300 on Bitstamp.

The pair had begun by taking liquidity . . . → Read More: Bitcoin price targets stretch to $19K as BTC jumps 4% from daily lows

What’s in and what’s out for Ethereum’s Shanghai upgrade

Ethereum core developers have opted to prioritize the enabling of staking withdrawals via the Shanghai upgrade first before implementing The Surge-related Ethereum Improvement Proposal (EIP)-4884.

As reported by Cointelegraph, the next key milestone on Ethereum’s roadmap is the Shanghai upgrade, which will enable withdrawals for ETH stakers/validators from the Beacon Chain — among . . . → Read More: What’s in and what’s out for Ethereum’s Shanghai upgrade

What’s the Probability of an End of Week S&P 500 or GBPUSD Break?

S&P 500, Sentiment, FOMC, Dollar, USDJPY and VIX Talking Points: The Market Perspective: USDJPY Bearish Below 137; GBPUSD Bullish Above 1.2300; S&P 500 Bearish Below 4,030 The S&P 500 continues to develop its remarkably tight (now 18 day) range with notable event risk ahead in the UofM survey, but a full break would be . . . → Read More: What’s the Probability of an End of Week S&P 500 or GBPUSD Break?

Gold Prices and US Dollar Turn to PPI and Sentiment Data Before the Weekend

Gold, XAU/USD, US Dollar, PPI, Rising Wedge, Technical Analysis – Briefing: Gold prices marked time as US Dollar, Treasury yields diverged All eyes turn to US PPI and sentiment data due later on Friday XAU/USD eyes Rising Wedge as DXY Index eyes 200-day SMA

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. . . → Read More: Gold Prices and US Dollar Turn to PPI and Sentiment Data Before the Weekend

Countries and institutions move into crypto despite market drop: Report

The crypto markets have been in decline since the start of the second quarter of 2022. Each time it seemed like the apparent crypto winter would experience a minor thaw, another notable collapse happened: Celsius, Three Arrows Capital, and more recently, FTX.

Approaching the end of 2022, it appears that the same negative sentiments . . . → Read More: Countries and institutions move into crypto despite market drop: Report

Paradigm releases ‘Ethereum for Rust’ to help ensure network stability

Web3 investment firm Paradigm has released a Rust implementation of Ethereum, according to a Dec. 7 announcement from the company’s chief technology officer, Georgios Konstantopoulos. The new software, called “Reth,” allows Ethereum validators to launch their nodes using Rust instead of Go, Java, or other programming languages.

A previous Rust implementation had been released . . . → Read More: Paradigm releases ‘Ethereum for Rust’ to help ensure network stability

Total crypto market cap falls to $840B, but derivatives data shows traders are neutral

The total cryptocurrency market capitalization has dropped 1.5% in the past seven days to rest at $840 billion. The slightly negative movement did not break the ascending channel initiated on Nov. 12, although the overall sentiment remains bearish and year-to-date losses amount to 64%.

Total crypto market cap in USD, 12-hour. Source: TradingView

Bitcoin . . . → Read More: Total crypto market cap falls to $840B, but derivatives data shows traders are neutral

Dow, DAX 40 and FTSE 100 Show Similar Setups Before Similar Event Risk

Dow Jones Industrial Average, DAX 40 (DAX30), FTSE 100 and Rate Hike Talking Points: The Market Perspective: Dow Bearish Below 33, 150 and DAX Bearish Below 14,150 The FOMC is expected to announce a 50 bp rate hike next Wednesday at 19:00 GMT, while the Bank of England and European Central Bank are . . . → Read More: Dow, DAX 40 and FTSE 100 Show Similar Setups Before Similar Event Risk

Ethereum developers target March 2023 for Shanghai hard fork

According to a discussion at the 151st Ethereum Core Developers Meeting on Dec. 8, core programmers have set a tentative deadline of March 2023 for Ethereum’s Shanghai hard fork. In addition, developers will aim for May or June 2023 to launch the Ethereum Improvement Protocol (EIP) 4844 upgrade that will introduce proto-danksharding to . . . → Read More: Ethereum developers target March 2023 for Shanghai hard fork

Euro Price Action Setups: EUR/USD, EUR/JPY, EUR/GBP

Euro Talking Points:

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The week started with some potential for volatility in FX markets but as the days have worn on, that flare of USD strength from Monday has continued to fizzle out.

To open . . . → Read More: Euro Price Action Setups: EUR/USD, EUR/JPY, EUR/GBP

Major Grayscale digital currency funds are trading at 34% to 69% discount to NAV

According to statistics sourced from data aggregator YCharts, seven digital currency funds issued by asset manager Grayscale Investments are currently at a discount of 34% to 69% to their net asset value, or NAV. Holdings tracked in the analysis include the Grayscale Bitcoin Trust, Ethereum Trust, Ethereum Classic Trust, Litecoin Trust, Zcash Trust, . . . → Read More: Major Grayscale digital currency funds are trading at 34% to 69% discount to NAV

GBP/USD Outlook: Pound Dollar Lacks Conviction as Price Action Stalls

GBP/USD Talking Points GBP/USD slides from major resistance as bullish momentum subsides. Pound Dollar faces technical headwinds in anticipation of next week’s event risk. FOMC and BoE (Bank of England) brace for further rate hikes with any surprises adding as a potential catalyst for price action.

Recommended by Tammy Da . . . → Read More: GBP/USD Outlook: Pound Dollar Lacks Conviction as Price Action Stalls

Bitcoin takes liquidity near $17K as US dollar shows weakness pre-CPI

Bitcoin (BTC) ranged below $17,000 at the Dec. 8 Wall Street open as the United States dollar threatened further weakness.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar dips as stocks see modest upt

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD practically flat over the 24 hours to the time of writing. . . . → Read More: Bitcoin takes liquidity near $17K as US dollar shows weakness pre-CPI

Inside South Korea’s wild plan to dominate the metaverse

“Many years ago, it was AI. Now, it’s metaverse,” he says. “From the government’s perspective, […] as long as you don’t have a coin itself, they’re willing to support a lot of these new technologies” — Doo Wan Nam from StableNode

South Korea: The land of the metaverse

If you had to pick the . . . → Read More: Inside South Korea’s wild plan to dominate the metaverse

Binance CEO, Coinbase exec feature in Masterclass crypto crash-course

For the uninitiated, the world of cryptocurrencies and blockchain technology can be daunting, confusing and difficult to comprehend. Three industry experts and a skeptical economist explore the past, present and future of the burgeoning technology in a new online learning series.

Masterclass is a web-based education platform that offers “classes” from subject matter . . . → Read More: Binance CEO, Coinbase exec feature in Masterclass crypto crash-course

S&P 500 and Nasdaq 100 Latest – Bearish Sentiment Prevails Ahead of the Fed

S&P 500 and Nasdaq 100 – Technical Forecasts and Analysis S&P 500 continues to respect the longer-term downtrend. Nasdaq 100 looking to invalidate a month-old bull flag formation.

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Most Read: S&P 500, Nasdaq Technical . . . → Read More: S&P 500 and Nasdaq 100 Latest – Bearish Sentiment Prevails Ahead of the Fed

GBTC ‘elevator to hell’ sees Bitcoin spot price approach 100% premium

Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), is trading close to 50% below the BTC price on spot markets.

Data from on-chain analytics platform Coinglass confirms that on Dec. 8, GBTC shares hit a new record low of -47.2% against BTC/USD.

GBTC troubles pile up post-FTX

In the latest bout of nerves . . . → Read More: GBTC ‘elevator to hell’ sees Bitcoin spot price approach 100% premium

AUD/USD Forecast: Aussie Steady but Key 0.67 Level at Risk

AUD/USD ANALYSIS & TALKING POINTS USD poised to strengthen as FOMC looms, leaving AUD vulnerable. Positivity around China has not borne fruit for AUD as COVID cases rise. Rising wedge formation could indicate a leg lower.

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Get My . . . → Read More: AUD/USD Forecast: Aussie Steady but Key 0.67 Level at Risk

Japanese Yen Struggles Against a US Dollar Finding Firmer Footing. Higher USD/JPY?

Japanese Yen, USD/JPY, US Dollar, USD/CAD, AUD/USD, Crude Oil, Gold – Talking Points The Japanese Yen trickled lower after the US Dollar resumed strengthening Central banks continue to tighten despite agitation of a recession looming Equities are feeling the pain except for China. Will USD/JPY resume rallying?

Recommended by Daniel . . . → Read More: Japanese Yen Struggles Against a US Dollar Finding Firmer Footing. Higher USD/JPY?

Euro Bumped up by US Dollar Weakness and a GDP Beat. Where to for EUR/USD?

The Euro has steadied against the US Dollar on Thursday as the market ponders the path of Fed rate hikes and technical resistance levels remain overhead for now. Will EUR/USD rally?

Euro, EUR/USD, EZ GDP, US Dollar, Federal Reserve, FOMC – Talking points The Euro has benefitted from US Dollar weakness ahead of FOMC . . . → Read More: Euro Bumped up by US Dollar Weakness and a GDP Beat. Where to for EUR/USD?

Crude Oil Price Outlook: WTI Set for Worst Week Since March? Falling Wedge in Focus

Crude Oil, WTI, Recession Woes, Falling Wedge – Talking Points: WTI crude oil is nearing a 10% loss this week, worst since March Such performance is not often, but is explained by recession woes Oil appears to be trading within a Falling Wedge chart formation

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. . . → Read More: Crude Oil Price Outlook: WTI Set for Worst Week Since March? Falling Wedge in Focus

S&P 500 and USDJPY Abide Technical Ranges Even as Volatility and Recession Fears Grow

S&P 500, VIX, Fed Rate Forecast, NZDCAD and USDJPY Talking Points: The Market Perspective: USDJPY Bearish Below 137; GBPUSD Bullish Above 1.2300; S&P 500 Bearish Below 4,030 The central banks of Canada, India and Brazil updated their policy this past session; but the volatility didn’t stretch much further beyond local markets and currencies The . . . → Read More: S&P 500 and USDJPY Abide Technical Ranges Even as Volatility and Recession Fears Grow

Price analysis 12/7: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

The FTX crisis kept Bitcoin’s (BTC) price under pressure in November, but data from Bitstamp exchange shows institutional investors may have viewed the dip as a buying opportunity. The exchange told Cointelegraph that compared to October, its revenue from institutions increased by 34% in November.

In another positive sign, Goldman Sachs executive Mathew McDermott . . . → Read More: Price analysis 12/7: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Bitcoin options data shows bulls aiming for $17K BTC price by Friday’s expiry

Bitcoin (BTC) price crashed to $15,500 on Nov. 21, driving the price to its lowest level in two years. The 2-day-long correction totaled an 8% downtrend and wiped out $230 million worth of leverage long (buy) futures contracts. 

The price move gave the false impression to bears that a sub-$15,500 expiry on the Dec. . . . → Read More: Bitcoin options data shows bulls aiming for $17K BTC price by Friday’s expiry

The blockchain trilemma: Can it ever be tackled?

Blockchains must balance between offering the best secure and scalable infrastructure while still staying reasonably decentralized. Is this a realistic future for Web3? 

A fundamental building block for blockchains is decentralization, a functionality that enables people to transact without the requirement of a central authority. This formed the crux of the Bitcoin (BTC) . . . → Read More: The blockchain trilemma: Can it ever be tackled?

Mazars says users’ BTC reserves on Binance are fully collateralized

South African auditor Mazars confirmed on Dec. 7 that cryptocurrency exchange Binance possessed control over 575,742.42 Bitcoin (BTC) of its customers, worth $9.7 billion at the time of publication. Mazars stated that “Binance was 101% collateralized.”

The scope of the inquiry included customers’ spot, options, margin, futures, funding, loan and earn accounts for . . . → Read More: Mazars says users’ BTC reserves on Binance are fully collateralized

Decentralized identity: Proving it’s really you in the 21st Century

One-quarter of the global populace is going to be spending at least an hour a day in the metaverse by 2026, according to tech consulting firm Gartner, for shopping, gaming, education and more. But at some point, people are going to have to demonstrate that it’s really them behind the avatar.

That’s just one . . . → Read More: Decentralized identity: Proving it’s really you in the 21st Century