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UnionBank of the Philippines launches Bitcoin and Ethereum trading

The Union Bank of the Philippines, or simply UnionBank — one of the largest universal banks in the Philippines — has launched a pilot program for Bitcoin (BTC) and Ether (ETH) custody and trading services for select retail customers, the firm said in a joint announcement on Nov. 2.

The new investment and . . . → Read More: UnionBank of the Philippines launches Bitcoin and Ethereum trading

Bitcoin price bottom takes shape as ‘old coins’ hit a record 78% of supply

Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead.

Another bear cycle produces more BTC hodlers

But the duration . . . → Read More: Bitcoin price bottom takes shape as ‘old coins’ hit a record 78% of supply

Record hash rates may see Big Oil become a major BTC mining player

Surging Bitcoin (BTC) network hash rates are causing problems for mining companies but might be rolling out the red carpet for energy giants.

The Bitcoin hash rate, the amount of computing power given to the blockchain through mining, has reached another record peak. According to Blockchain.com, the metric hit an all-time high of . . . → Read More: Record hash rates may see Big Oil become a major BTC mining player

MicroStrategy CEO reiterates ‘long term’ Bitcoin play in Q3 earnings

The third quarter earnings for business intelligence firm MicroStrategy revealed a narrowed net loss of $27.1 million for the quarter, while it continues to grow its Bitcoin (BTC) portfolio despite poor crypto market conditions.

The world’s largest publicly traded corporate Bitcoin owner confirmed it still owns 130,000 BTC at the end of Q3 2022. That . . . → Read More: MicroStrategy CEO reiterates ‘long term’ Bitcoin play in Q3 earnings

FOMC Strategy Amid a Strong S&P 500 Rebound and Buoyant Dollar

S&P 500, FOMC, Dollar, EURUSD and USDJPY Talking Points: The Market Perspective: USDJPY Bearish Below 146; EURUSD Bullish Above 1.0000; Gold Bearish Below 1,680 The FOMC rate decision is this week’s top scheduled event risk and it is arguably the most important Fed meeting since the first 75bp hike Whether the Fed starts to . . . → Read More: FOMC Strategy Amid a Strong S&P 500 Rebound and Buoyant Dollar

BTC miner CleanSpark scoops up thousands of miners amid ‘distressed markets’

Sustainability-focused Bitcoin (BTC) mining company CleanSpark has snapped up another 3,843 cryptocurrency miners amid a backdrop of mining industry consolidation.

The $5.9 million purchase of the Antminer S19J Pro Bitcoin miners announced by the company on Nov. 1 came at a price of $15.50 per terahash — far cheaper than the current market . . . → Read More: BTC miner CleanSpark scoops up thousands of miners amid ‘distressed markets’

New Zealand Dollar May Rise Against USD and AUD After NZ Job Numbers Impress

New Zealand Dollar, NZD/USD, Q3 Employment, China, Technical Forecast – Talking Points Asia-Pacific markets face mixed open on muted USD as traders prep for FOMC New Zealand Q3 employment beats estimates, underpinning RBNZ rate hike bets NZD/USD trades just below the 50-day SMA within a Cup and Handle pattern Wednesday’s Asia-Pacific Outlook

Asia-Pacific . . . → Read More: New Zealand Dollar May Rise Against USD and AUD After NZ Job Numbers Impress

Research report outlines why the crypto market might be on the verge of a reversal

As November begins, analysts are busy dissecting the major market movements that occurred in October. While Bitcoin (BTC) stayed relatively unchanged with only 5.89% growth in October, Arcane Research senior analyst, Vetle Lunde mapped out the direction the market might take in the next few months.

“Uptober,” a reference to Bitcoin’s bullish historical performance . . . → Read More: Research report outlines why the crypto market might be on the verge of a reversal

Lightning Network releases emergency update after critical bug on LND nodes

An emergency update was released to all of Lightning Network’s LND node operators on Nov. 1, after a critical bug caused LND nodes to fall out of sync chain. This was the second critical bug experienced by the network in less than a month. 

According to Lightning Labs, developer of the Bitcoin Lightning Network, . . . → Read More: Lightning Network releases emergency update after critical bug on LND nodes

S&P 500 Extends Losses as Yields Charge Higher ahead of key Fed Decision. Now What?

STOCK MARKET KEY POINTS: The S&P 500 and Nasdaq 100 decline for the second day in a row amid rising U.S. Treasury rates Yields move higher on better-than-expected U.S. economic data All eyes are now on the FOMC policy decision Wednesday afternoon

Trade Smarter – Sign up for . . . → Read More: S&P 500 Extends Losses as Yields Charge Higher ahead of key Fed Decision. Now What?

3 major mistakes to avoid when trading crypto futures and options

Novice traders are usually drawn to futures and options markets due to the promise of high returns. These traders watch influencers post incredible gains, and at the same time, the multiple advertisements from derivatives exchanges that offer 100x leverage are at times irresistible for most. 

Although traders can effectively increase gains with recurring . . . → Read More: 3 major mistakes to avoid when trading crypto futures and options

EURUSD Slips Away From Parity as FOMC Looms

EURUSD, FOMC – Talking Points EURUSD pushes lower following strong US PMI report Traders eye 75 bps FOMC rate hike and Fed guidance Heavy economic calendar may put stress on EURUSD bulls

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The EURUSD . . . → Read More: EURUSD Slips Away From Parity as FOMC Looms

Central Bank Watch: Fed Speeches, Interest Rate Expectations Update; November Fed Meeting Preview

Central Bank Watch Overview: Fed policymakers spoke in very hawkish tones throughout September and October, although a few FOMC members began to soften their tone ahead of the communications blackout period. It may be the case that additional rate hikes are coming before the end of 2022, but the Fed may slowdown its pace . . . → Read More: Central Bank Watch: Fed Speeches, Interest Rate Expectations Update; November Fed Meeting Preview

Andy Warhol would have loved (or possibly hated) NFTs

If Andy Warhol — the most famous artist of the 20th century — were alive today, he would make NFTs. The reasoning is simple: because for Warhol, business was art. So, I decided to do some digging and speak to Warhol experts to see if there is a case.

But Warhol was an artist . . . → Read More: Andy Warhol would have loved (or possibly hated) NFTs

MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico

Nikolai Mushegian, co-founder of the cryptocurrency lending platform MakerDAO and the decentralized Dai (DAI) stablecoin, was found dead in Puerto Rico last week.

Mushegian died due to drowning after being dragged by sea currents on the Condado beach in San Juan, the local newspaper El Nuevo Día reported. Mushegian had no vital signs . . . → Read More: MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico

Australian Dollar Dips After RBA Hike by 0.25% as Expected. Where to for AUD/USD?

Australian Dollar, AUD/USD, RBA, CPI, PPI, ASX 200, Fed, BoE – Talking Points The RBA hiked by 0.25% for the second month in a row to 2.85% AUD/USD dropped on the news as there had been faint hopes for a 0.50% lift The RBA appear comfortable with smaller hikes, despite awkward CPI

. . . → Read More: Australian Dollar Dips After RBA Hike by 0.25% as Expected. Where to for AUD/USD?

Dow Closes Out Its Best Month Since 1976 But Fed Anticipation Will Throttle

Dow, Nasdaq 100, S&P 500, FOMC, AUDUSD and EURUSD Talking Points: The Market Perspective: USDJPY Bearish Below 146; EURUSD Bullish Above 1.0000; Gold Bearish Below 1,680 October has come to a close and the Dow Jones Industrial Average may represent the broader market’s winner for the month with a nearly 14 percent rally – . . . → Read More: Dow Closes Out Its Best Month Since 1976 But Fed Anticipation Will Throttle

Huobi Global denies ‘large-scale layoffs’ and key exec resignations

Huobi Global says it has no plans to conduct “large-scale layoffs” and has refuted reports that two of its top executives have resigned amid a takeover of the Seychelles-based crypto exchange.

Reports that the company’s chief executive officer (CEO) Leon Li and chief financial officer (CFO) Chris Lee have resigned appeared to have . . . → Read More: Huobi Global denies ‘large-scale layoffs’ and key exec resignations

Crude Oil Forecast: China Covid Woes Weigh on Prices as Traders Eye Inventory Data

WTI Crude Oil, US Production, China, Covid, EIA, Inventory, Technical Analysis – Talking Points Crude oil prices face mounting macroeconomic headwinds after prices rise in October US inventory data, the FOMC rate decision and the US jobs report to set oil direction WTI prices look set for a potential spike in volatility as prices . . . → Read More: Crude Oil Forecast: China Covid Woes Weigh on Prices as Traders Eye Inventory Data

Gold Price Falls Towards Monthly Low After Failing to Test 50-Day SMA

Gold Price Talking Points

The price of gold carves a series of lower highs and lows despite the kneejerk reaction to the US Personal Consumption Expenditure (PCE) Price Index, and bullion appears to be on track the test the monthly low ($1617) as it reverses ahead of the 50-Day SMA ($1680).

Advertisement Gold . . . → Read More: Gold Price Falls Towards Monthly Low After Failing to Test 50-Day SMA

Chinese Yuan Slides Against US Dollar as Covid Lockdowns Weigh on Sentiment

Chinese Yuan, USD/CNH, RBA, Covid, Commodities, Technical Outlook – Talking Points Asia-Pacific markets face headwinds from a stronger Dollar after US traders ditch equities RBA rate decision in focus for APAC markets as China lockdowns weigh on sentiment USD/CNH surged nearly 1% as RSI divergence puts the broader uptrend in potential danger Advertisement Tuesday’s . . . → Read More: Chinese Yuan Slides Against US Dollar as Covid Lockdowns Weigh on Sentiment

Ethereum flashes a classic bullish pattern in its Bitcoin pair, hinting at 50% upside

Ethereum’s native token, Ether (ETH), looks poised to log a major price rally versus its top rival, Bitcoin (BTC), in the days leading toward early 2023.

Ether has a 61% chance of breaking out versus Bitcoin

The bullish cues emerge primarily from a classic technical setup dubbed a “cup-and-handle” pattern. It forms when the . . . → Read More: Ethereum flashes a classic bullish pattern in its Bitcoin pair, hinting at 50% upside

2 metrics signal the $1T crypto market cap support likely won’t hold

Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s (BTC) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31.

Total crypto market cap, USD (in billions). Source: TradingView

The cryptocurrency . . . → Read More: 2 metrics signal the $1T crypto market cap support likely won’t hold

Ethereum price hits $1.6K as markets expect the Fed to ease the pressure

A $250 surprise rally took place between Oct. 25 and Oct. 26, pushing the price of Ether (ETH) from $1,345 to $1,595. The movement caused $570 million in liquidations in Ether’s bearish bets at derivatives exchanges, which was the largest event in more than 12 months. Ether’s price also rallied above the $1,600 level, . . . → Read More: Ethereum price hits $1.6K as markets expect the Fed to ease the pressure

Bitcoin fails to break the $21K support, but bears remain shy

Bitcoin (BTC) rallied on the back of the United States stock market’s 3.4% gains on Oct. 28, with the S&P 500 index rising to its highest level in 44 days. In addition, recently released data showed that inflation might be slowing down, which gave investors hope that the Federal Reserve might break its pattern . . . → Read More: Bitcoin fails to break the $21K support, but bears remain shy

14 years since the Bitcoin white paper: Why it matters

Happy white paper day, Bitcoin. It’s been 14 years since Satoshi Nakamoto first sent an email to the Cypherpunk mailing list with the subject line, “Bitcoin P2P e-cash Paper.” The email included a link to the white paper, an outline of what would soon become a one trillion-dollar market. 

The first sentence of the . . . → Read More: 14 years since the Bitcoin white paper: Why it matters

Japanese Yen in Flux on Data as the Chinese Yuan Battles Soft Sentiment

Japanese Yen, USD/JPY, US Dollar, USD/CNY, CNY/JPY, Yuan – Talking Points USD/JPY is looking to higher levels despite mixed economic data Yen weakening might have broader ramifications for the region What’s good for the Yen might be good for the Yuan

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Get Your Free . . . → Read More: Japanese Yen in Flux on Data as the Chinese Yuan Battles Soft Sentiment

AUD/USD Eyes Australian Retail Sales and China PMI Data as Iron Ore Prices Pose Headwind

Australian Dollar, AUD/USD, Retail Sales, China PMI, Iron Ore, Technical Outlook – Talking Points Asia-Pacific markets look to trade higher on Monday as yields fall China’s manufacturing PMI data for October may dictate sentiment AUD/USD may target the 50-day SMA if Fib support holds steady Advertisement Monday’s Asia-Pacific Outlook

Asia-Pacific stocks outside of . . . → Read More: AUD/USD Eyes Australian Retail Sales and China PMI Data as Iron Ore Prices Pose Headwind

Markets Week Ahead: Dow Jones, Nasdaq 100, US Dollar, AUD/USD, GBP/USD, Fed, RBA, BoE

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Risk appetite notably improved this past week on Wall Street. Dow Jones futures lead the charge, surging 5.89% to the highest since late August. Meanwhile, S&P 500 and Nasdaq 100 futures rose 2.62% and 3.32%, . . . → Read More: Markets Week Ahead: Dow Jones, Nasdaq 100, US Dollar, AUD/USD, GBP/USD, Fed, RBA, BoE

BTC price struggles at $21K as trader says ‘top is in’ for Bitcoin, Ethereum

Bitcoin (BTC) continued consolidating into the Oct. 30 weekly close as concerns over a deeper retracement became vocal.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader avoids new longs below $21,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling levels just below $21,000 on the day.

Weekend trading had produced an early . . . → Read More: BTC price struggles at $21K as trader says ‘top is in’ for Bitcoin, Ethereum

S&P 500, Nasdaq 100, Dow Jones – Mega-Cap Tech Hammerings Rattle Sentiment

S&P 500, Nasdaq 100, and Dow Jones Forecasts and Analysis

Meta and Amazon both slump 20%+ after releasing Q3 figures. Uber, Airbnb, and Coinbase are all on the Q3 docket next week.

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US equity markets . . . → Read More: S&P 500, Nasdaq 100, Dow Jones – Mega-Cap Tech Hammerings Rattle Sentiment

Canadian Dollar Weekly Forecast: USD/CAD Keenly Awaits FOMC After BoC Shock

USD/CAD ANLAYSIS

Will we see further central bank divergence come FOMC? Resilient CAD may be breaking down against USD. Falling wedge in focus next week.

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USD/CAD FUNDAMENTAL OUTLOOK: BULLISH

The Canadian dollar has been under pressure . . . → Read More: Canadian Dollar Weekly Forecast: USD/CAD Keenly Awaits FOMC After BoC Shock

Vitalik Buterin ‘kinda happy’ with ETF delays, backs maturity over attention

The co-founder of Ethereum (ETH), Vitalik Buterin, believes that the crypto ecosystem needs to mature and be in tune with the regulatory policies that allow crypto projects to operate internally freely.

Sharing his opinion around crypto regulations, Buterin spoke against the regulations that have an impact on the inner workings of a crypto ecosystem. . . . → Read More: Vitalik Buterin ‘kinda happy’ with ETF delays, backs maturity over attention

EUR/USD Rate Outlook Hinges on Fed Rate Decision

Euro Rate Talking Points

EUR/USD snaps the recent series of higher highs and lows following the European Central Bank (ECB) meeting, and the exchange rate may struggle to retain the advance from the monthly low (0.9632) as the Federal Reserve is expected to implement another 75bp rate hike.

Recommended by . . . → Read More: EUR/USD Rate Outlook Hinges on Fed Rate Decision

Gold Price Forecast: XAU/USD Directional Bias Tied to Fed Monetary Policy Posture

GOLD PRICE OUTLOOK: SLIGHTLY BULLISH

Gold prices declined this week, but the Fed could spark a bullish reversal soon The FOMC is expected to raise interest rates by 75 basis points at its November meeting, but it could adopt a less hawkish stance in terms of future hiking The U.S. central bank tightening bias . . . → Read More: Gold Price Forecast: XAU/USD Directional Bias Tied to Fed Monetary Policy Posture

Bitcoin metric warns of $21K profit-taking as decade-old BTC wakes up

Bitcoin (BTC) asleep for up to a decade is waking up this week as BTC price action sees six-week highs.

Data from on-chain analytics firm Glassnode shows some of the oldest “dormant” Bitcoin returning to circulation.

BTC trends out of hibernation

As BTC/USD stages something of a comeback in the second half of October, . . . → Read More: Bitcoin metric warns of $21K profit-taking as decade-old BTC wakes up

US Dollar Forecast: Another Fed Jumbo Hike in Focus as Markets Bet on Policy Moderation

US Dollar Fundamental Forecast: Neutral US Dollar weakens as S&P 500 gains, Fed hawkishness bets taper Eyes are on another jumbo 75-basis point rate hike on Wednesday That will be followed by Friday’s non-farm payrolls likely cooling

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Get . . . → Read More: US Dollar Forecast: Another Fed Jumbo Hike in Focus as Markets Bet on Policy Moderation

How to earn passive crypto income with Ethereum?

The cryptocurrency market is incredibly volatile, which can be both good and bad for investors and traders. Volatility creates opportunities for making profits, but it can also lead to losses. Passive income strategies, however, could be handy in offsetting these losses. 

Passive income strategies offer investors and traders opportunities to earn profits, even during . . . → Read More: How to earn passive crypto income with Ethereum?

Bitcoin hits new 6-week high as Ethereum liquidates $240M more shorts

Bitcoin (BTC) attempted to retake $21,000 on Oct. 29 as weekend trading began on a strong footing.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar lurks as BTC price rebounds

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rebounded overnight to local highs of $21,078 on Bitstamp — enough to clinch . . . → Read More: Bitcoin hits new 6-week high as Ethereum liquidates $240M more shorts

The Merge brings down Ethereum’s network power consumption by over 99.9%

The Merge, which is considered one of the most significant blockchain upgrades on Ethereum to date, brought down the network’s energy consumption by 99.9% immediately.

On Sept. 15, the Ethereum blockchain migrated from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism in an effort to transition into a green blockchain. What followed was an immediate . . . → Read More: The Merge brings down Ethereum’s network power consumption by over 99.9%

Bitcoin Price Outlook: BTC, ETH, Dogecoin Upside Face Risky Week Ahead

Bitcoin Outlook: Neutral Bitcoin bullish momentum drives BTC/USD higher while Dollar strength subsides Ethereum posts double-digit gains – earning season and economic data provide mixed reactions Dogecoin skyrockets around 39% after Elon Musk completes Twitter deal

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Get . . . → Read More: Bitcoin Price Outlook: BTC, ETH, Dogecoin Upside Face Risky Week Ahead

FX Week Ahead – Top 5 Events: BOE, Fed, RBA, Rate Decisions; Canada Jobs Report; US NFP

FX Week Ahead Overview: The first week of November is all about central banks: the Reserve Bank of Australia will release its rate decision on Tuesday; the Federal Reserve on Wednesday; and the Bank of England on Thursday. While still important, the October US jobs report may see a muted impact in the wake . . . → Read More: FX Week Ahead – Top 5 Events: BOE, Fed, RBA, Rate Decisions; Canada Jobs Report; US NFP

Bitcoin price broke out this week, but has the trend changed?

Welcome readers, and thanks for subscribing! The Altcoin Roundup newsletter is now authored by Cointelegraph’s resident newsletter writer Big Smokey. In the next few weeks, this newsletter will be renamed Crypto Market Musings, a weekly newsletter that provides ahead-of-the-curve analysis and tracks emerging trends in the crypto market. 

The publication date of the newsletter . . . → Read More: Bitcoin price broke out this week, but has the trend changed?

Musk fires Twitter execs, research stirs blockchain energy debate and CFTC brass shares crypto concerns: Hodler’s Digest, Oct. 23-29

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week Twitter’s top brass gutted as Elon Musk’s takeover begins . . . → Read More: Musk fires Twitter execs, research stirs blockchain energy debate and CFTC brass shares crypto concerns: Hodler’s Digest, Oct. 23-29

Gold and Silver Technical Forecasts: Gold Eyes Trend Reversal as Silver Momentum Stalls. Where to for XAU, XAG?

Gold and Silver Technical Forecast: Gold prices are eyeing a breakout from a Double Bottom pattern as RSI flashes bullish signal Silver prices fell after resistance from the 100-day SMA capped gains, while RSI fell below 50 Advertisement Gold Technical Outlook: Bullish

Gold prices were on track to record modest gains on the . . . → Read More: Gold and Silver Technical Forecasts: Gold Eyes Trend Reversal as Silver Momentum Stalls. Where to for XAU, XAG?

Compound pauses 4 tokens to avoid price manipulation: 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.

After the Mango Markets exploit last week, Compound protocol paused the supply of four tokens as lending collateral to protect it against any price manipulation.

Crypto staking protocol . . . → Read More: Compound pauses 4 tokens to avoid price manipulation: Finance Redefined

Crypto Biz: Is Zuckerberg’s $100B metaverse experiment doomed to fail?

Not everyone is convinced that Mark Zuckerberg’s massive metaverse experiment is a good idea. Since Facebook rebranded to Meta in 2021, the social media giant’s focus has increasingly shifted to connecting the digital and physical worlds through augmented reality. However, a shareholder of the company recently issued a letter to the CEO calling . . . → Read More: Crypto Biz: Is Zuckerberg’s $100B metaverse experiment doomed to fail?

Cowboy hats, boots, guns and crypto talk with Dan Held

Bitcoiner Dan Held gave journalist Nicole Behnam a true Texan welcome to Austin while the pair discussed their individual paths into the world of crypto.

Dan Held is a household name in the world of Bitcoin (BTC), while Nicole Behnam is a journalist turned cryptocurrency and NFT enthusiast. Together, the pair explored Held’s . . . → Read More: Cowboy hats, boots, guns and crypto talk with Dan Held

GBP Fundamental Forecast: BoE and Fed Hikes Threaten GBP Recovery

Pound Sterling Weekly Fundamental Forecast: Bearish

UK government considers tax hikes and increasing windfall tax ahead of fiscal statement on November 17th Bank of England and FOMC gear up for 75 basis point hikes next week Major risk events ahead: US ISM PMI, BoE and FOMC rate hikes, US NFP

Recommended . . . → Read More: GBP Fundamental Forecast: BoE and Fed Hikes Threaten GBP Recovery

Bitcoin price due sub-$20K dip, traders warn amid claim miners ‘capitulating’

Bitcoin (BTC) climbed back to $20,500 at the Oct. 28 Wall Street open as United States equities sought a stronger finish to the week.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bets that $20,000 will fail as support increase

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD capitalizing on renewed optimism as markets . . . → Read More: Bitcoin price due sub-$20K dip, traders warn amid claim miners ‘capitulating’

DAX, FTSE Boom Faces Resistance After Strong Week of Gains

Dax 40, FTSE 100 Key Points: German inflation skyrockets but Dax resilience holds FTSE 100 humbled by weekly high European equities face challenging times as critical resistance firms

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European equities continue to whipsaw into . . . → Read More: DAX, FTSE Boom Faces Resistance After Strong Week of Gains

Why Do Stocks Suffer When Interest Rates Rise?

US Equities Outlook: The rapid rise in US Treasury yields has coincided with a steep decline by the major US stock markets. Rising interest rates reduce the net-present value of future cash flows, per the traditional discounted cash flow model. Companies with high debt burdens and low (or no) profitability tend to suffer most . . . → Read More: Why Do Stocks Suffer When Interest Rates Rise?

3 striking similarities with past Bitcoin price bottoms — But there’s a catch

Bitcoin (BTC) has been consolidating inside the $18,000–$20,000 price range since mid-June, pausing a strong bear market that began after the price peaked at $69,000 in November 2021.

Many analysts have looked at Bitcoin’s sideways trend as a sign of a potential market bottom, drawing comparisons from the cryptocurrency’s previous bear markets that show . . . → Read More: 3 striking similarities with past Bitcoin price bottoms — But there’s a catch

US Dollar Retains Gains Despite Softer-than-Expected Core PCE Inflation

US PCE REPORT KEY POINTS: September U.S. consumer spending advances 0.6% on a monthly basis, versus 0.4% expected Core PCE, the Fed’s favorite inflation gauge, climbs 0.5% month-over-month, pushing the annual rate to 5.1% from 5.0%, one-tenth of a percent below market estimates The U.S. dollar retains session’s gains, but its reaction to the . . . → Read More: US Dollar Retains Gains Despite Softer-than-Expected Core PCE Inflation

Ethereum sets record ETH short liquidations, wiping out $500 billion in 2 days

Ether (ETH) is setting liquidation records this week as a comparatively modest price uptick reveals how bearish the market has become.

Data from on-chain analytics platform CryptoQuant confirmed that United States dollar-denominated short liquidations hit a new all-time high on Oct. 25.

Two days, half a billion dollars of ETH shorts

It is . . . → Read More: Ethereum sets record ETH short liquidations, wiping out $500 billion in 2 days

October sees lowest-ever daily trading volume for crypto products: Report

As the crypto market shows signs of a gradual recovery, with Bitcoin (BTC) holding above the psychologically important $20,000 level after its initial crash to $17,600 in June, this month still sets a record low for an average daily aggregate product volume across all digital asset investment products. 

According to the report from . . . → Read More: October sees lowest-ever daily trading volume for crypto products: Report

Bitcoin weak hands ‘mostly gone’ as BTC ignores Amazon, Meta stock dip

Bitcoin (BTC) is decoupling from big tech as disappointing earnings fail to spark any major BTC price losses.

Economic data for Q3, 2022, saw heavy losses for some tech stocks, but BTC/USD avoided a chain reaction.

Bitcoin hodlers shrug off Q3 tech results

The largest cryptocurrency shed around $800 over Oct. 27, or 3.8%, . . . → Read More: Bitcoin weak hands ‘mostly gone’ as BTC ignores Amazon, Meta stock dip

US Dollar Strikes Back as the ECB Takes a Dovish Tilt. Will the DXY index recover?

US Dollar, DXY Index, ECB, Fed, Crude Oil, EUR/USD, GBP/USD, USD/JPY – Talking Points The US Dollar defied rumours of its demise today after a solid bounce back The ECB rate hike and a ‘meeting by meeting’ approach undermined EUR/USD Treasury yields continued their slide. Will that undermine the DXY Index?

. . . → Read More: US Dollar Strikes Back as the ECB Takes a Dovish Tilt. Will the DXY index recover?

Japanese Yen Awaits Kuroda, Intervention Threat, Key US Inflation Data After Dovish BoJ

Japanese Yen, USD/JPY, Bank of Japan, Kuroda, PCE, Technical Analysis – Market Update Japanese Yen marks time on still dovish Bank of Japan Intervention remains a volatile threat to USD/JPY ahead Eyes on Kuroda and the Fed’s preferred inflation gauge

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Get Your Free JPY Forecast . . . → Read More: Japanese Yen Awaits Kuroda, Intervention Threat, Key US Inflation Data After Dovish BoJ

Nasdaq and Dow Ratio Highlight FAANG Collapse, Fed and Recession Top Themes Next Week

Nasdaq 100, Dow, Dollar, Recession, FOMC and EURUSD Talking Points: The Market Perspective: USDJPY Bearish Below 146; EURUSD Bullish Above 1.0000; Gold Bearish Below 1,680 The significant hit to FAANG earnings this week proved a top macroeconomic weight for those tracking broader risk trends, but priorities are likely to shift ahead Top marks for . . . → Read More: Nasdaq and Dow Ratio Highlight FAANG Collapse, Fed and Recession Top Themes Next Week

EUR/USD Rate Vulnerable to Another Rise in US PCE

EUR/USD Rate Talking Points

EUR/USD falls back from a fresh monthly high (1.0094) even as the European Central Bank (ECB) implements another 75bp rate hike, and fresh data prints coming out of the US may fuel the recent decline in the exchange rate as the Personal Consumption Expenditure (PCE) Price Index is anticipated . . . → Read More: EUR/USD Rate Vulnerable to Another Rise in US PCE

AUD/USD Under Pressure on Sinking Iron Ore Prices as APAC Traders Eye Bank of Japan

Australian Dollar, AUD/USD, Iron Ore, Earnings, Sentiment, BoJ – Talking Points Asia-Pacific markets look set for a mixed session as bond yields fall The Bank of Japan is expected to hold steady on ultra-loose policy A sharp drop in iron ore prices is weighing on the Australian Dollar Friday’s Asia-Pacific Outlook

Asia-Pacific stocks . . . → Read More: AUD/USD Under Pressure on Sinking Iron Ore Prices as APAC Traders Eye Bank of Japan

Why the battle for low or no transaction fees really matters

During the frenzied bull run, transaction fees were running rampant. Over on the Ethereum blockchain, they hit eye-watering highs of $196.638 back in May — rendering the network unusable for most everyday consumers.

The Bitcoin blockchain suffered from a similar issue the year before, accelerating to a record-breaking $300.331. When demand is high, . . . → Read More: Why the battle for low or no transaction fees really matters

Bitcoin is cooling its rally — Here are the BTC price levels to watch next

Bitcoin (BTC) consolidated gains on Oct. 27 as the highest levels in six weeks gave way to sideways action.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin impresses with stability on GDP print

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $20,500 on Bitstamp after reaching local highs of $21,012 the day . . . → Read More: Bitcoin is cooling its rally — Here are the BTC price levels to watch next

ConsenSys commits $2.4M annually to launch MetaMask Grants DAO

Blockchain technology firm ConsenSys will spend $2.4 million annually to fund its newly launched MetaMask Grants DAO aimed at driving further development of the Web3 ecosystem.

The fund will be led by MetaMask employees who will manage the decentralized autonomous organization (DAO). The DAO will be responsible for issuing grants to developers working . . . → Read More: ConsenSys commits $2.4M annually to launch MetaMask Grants DAO

Building community resilience to crises through mutual aid and Web3

It seems that every time one turns on the TV, something, somewhere, is going catastrophically wrong. Whether it be Hurricane Ian tearing through Cuba and Florida, war raging in Eastern Europe, or floods devastating Pakistan, there has been no shortage of crises in 2022 — both natural and human-caused. 

And as the climate continues . . . → Read More: Building community resilience to crises through mutual aid and Web3

Does the IMF have a vendetta against cryptocurrencies?

Is the International Monetary Fund (IMF) really hostile to crypto? Many in the cryptocurrency and blockchain space think so. In January, the fund asked El Salvador to drop Bitcoin (BTC) as legal tender. 

In May, it reportedly pressured Argentina to curtail crypto trading as the price for an IMF loan extension, and it . . . → Read More: Does the IMF have a vendetta against cryptocurrencies?

A record 55,000 Bitcoin, or over $1.1 billion, was just withdrawn from Binance

Bitcoin (BTC) has seen record buying activity as BTC/USD returns to six-week highs.

The latest data from on-chain analytics firm CryptoQuant shows more BTC leaving major exchange Binance in a single day than ever before.

Binance finishes the day 55,000 BTC lighter

Despite warnings that a macro bottom may not yet have occurred, Bitcoin . . . → Read More: A record 55,000 Bitcoin, or over $1.1 billion, was just withdrawn from Binance

US Dollar Pummelled as ECB and Fed Rate Hikes Loom Amid Tech Frailties

US Dollar, DXY Index, ECB, Fed, Crude Oil, EUR/USD, GBP/USD, USD/JPY – Talking Points The US Dollar has been buried by hopes of a less hawkish Fed The ECB are all set to raise rates again as EUR/USD holds the high ground Treasury yields are lower. If the Fed doesn’t pivot, will the . . . → Read More: US Dollar Pummelled as ECB and Fed Rate Hikes Loom Amid Tech Frailties

Asset management firm launches BTC Lightning Network startup accelerator

Asset management firm Stone Ridge, the parent company of Bitcoin company NYDIG, has launched the first startup accelerator that focuses on the Bitcoin Lightning Network and the Taro protocol, called In Wolf’s Clothing (Wolf). 

The accelerator consists of 8-week programs in which the best founders and startup teams from around the world will be . . . → Read More: Asset management firm launches BTC Lightning Network startup accelerator

Hong Kong could be key for China’s crypto comeback: Arthur Hayes

Arthur Hayes, the former CEO of crypto derivatives giant BitMEX, believes the next crypto bull run will start when China moves back into the market, and Hong Kong has a vital part to play in this process. 

In his Oct. 26 blog post titled “Comeback”, Hayes outlined why he thinks the Hong Kong . . . → Read More: Hong Kong could be key for China’s crypto comeback: Arthur Hayes

Nasdaq and Dollar Drop on Different Drivers, Prepare for a Lot More Event Risk Ahead

Nasdaq 100, Dow, Dollar, USDJPY, GDP and EURUSD Talking Points: The Market Perspective: USDJPY Bearish Below 146; EURUSD Bullish Above 1.0000; Gold Bearish Below 1,680 Though Facebook would register just as disappointing an earnings result as Google, the two companies had a very different impact on the Nasdaq – but neither can compete with . . . → Read More: Nasdaq and Dollar Drop on Different Drivers, Prepare for a Lot More Event Risk Ahead

Crude Oil Forecast: WTI Aims for October High as US Exports Surge Ahead of Russian Fuel Ban

Crude Oil Forecast, WTI, EIA, US Exports, Economic Data – Talking Points A softer US Dollar aided commodity prices on Wednesday, including WTI and Brent oil US inventory data sent prices higher as export demand rose ahead of Russian fuel ban WTI takes aim at the October high after piercing above the 50-day . . . → Read More: Crude Oil Forecast: WTI Aims for October High as US Exports Surge Ahead of Russian Fuel Ban

Euro Shoots Higher as US Dollar Drops Ahead of ECB Rate Decision. Where to for EUR/USD?

Euro, EUR/USD, US Dollar, ECB, Fed, FOMC, BoC, Treasuries, LNG – Talking Points Euro is gassed up against a US Dollar that has been hit by policy pivot perceptions The ECB is anticipated to hike later today, as other central banks are in the frame If the northern winter is a mild one, . . . → Read More: Euro Shoots Higher as US Dollar Drops Ahead of ECB Rate Decision. Where to for EUR/USD?

AUD/USD to Test 50-Day SMA on Break Above Monthly Opening Range

Australian Dollar Talking Points

AUD/USD trades back above the September low (0.6363) as it carves a series of higher highs and lows, and the exchange rate may attempt to test the 50-Day SMA (0.6593) if it clears the opening range for October.

Advertisement AUD/USD to Test 50-Day SMA on Break Above Monthly Opening . . . → Read More: AUD/USD to Test 50-Day SMA on Break Above Monthly Opening Range

Bitcoin analysts map out the key bull and bear cases for BTC’s price action

Research has detailed Bitcoin’s recent record-low volatility and, while traders expect an eventual price breakout, the Oct. 26 BTC price move to $21,000 is not yet being interpreted as confirmation that $20,000 has now become support. 

In a recent “The Week On-chain Newsletter,” Glassnode analysts mapped out a bull case and a bear case . . . → Read More: Bitcoin analysts map out the key bull and bear cases for BTC’s price action

Why is Bitcoin price up today?

Bitcoin price is up today, and a marketwide rally in crypto prices suggests that Bitcoin (BTC) and Ether (ETH) could be aiming to wrap up the month of October in the black.

As of Oct. 26, most major cryptocurrencies are posting single-digit gains. Bitcoin recorded a 5.15% price increase over the previous 24 . . . → Read More: Why is Bitcoin price up today?

Report: Vast majority of blockchain energy studies ’lack scientific rigor’

According to a new preprint conducted by researchers at the Netherlands’ Open Universiteit and Radboud University, in addition to the University of California, Berkley, the vast majority of literature on blockchain energy use from both academic and everyday sources lacks “the scientific rigor expected from a mature scientific field.” The report analyzed 128 scientific . . . → Read More: Report: Vast majority of blockchain energy studies ’lack scientific rigor’

Bitcoin price reaches $21K as crypto market cap nears $1T

Bitcoin (BTC) returned to $21,000 for the first time since September after the Oct. 26 Wall Street open as buyers solidified gains.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC bulls “eat” ask liquidity

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit local highs of $21,012 on Bitstamp.

At the . . . → Read More: Bitcoin price reaches $21K as crypto market cap nears $1T

Why is the crypto market up today?

Bitcoin (BTC) volatility is finally giving BTC bulls what they want — but why now?

After drifting lower for months and spending recent weeks in a tiny trading range, BTC/USD has delivered 24-hour gains in excess of 7%.

Hitting its highest levels since mid-September, the largest cryptocurrency is rewarding those who refused to sell . . . → Read More: Why is the crypto market up today?

Next Bitcoin rally to start in Q2 2023 — Mark Yusko explains why

The anticipation of the next Bitcoin (BTC) halving will be the main catalyst that sparks a new crypto rally as soon as the second quarter of 2023, according to hedge fund manager Mark Yusko.

The halving mechanism, which reduces Bitcoin’s block rewards by half every four years, has historically been a major . . . → Read More: Next Bitcoin rally to start in Q2 2023 — Mark Yusko explains why

Crypto City: Guide to San Francisco Bay Area

This “Crypto City” guide looks at the San Francisco Bay Area’s crypto culture, its most notable projects and people, its financial infrastructure, which retailers accept crypto, and where you can find blockchain education courses. You really might leave your heart in San Francisco with all the projects in the Bay Area.

Fast facts

City: . . . → Read More: Crypto City: Guide to San Francisco Bay Area

BitPay to introduce USDC and ETH payments on Polygon network

Major cryptocurrency firm BitPay is expanding the scope of supported blockchain networks, preparing to debut payments in ERC-20 tokens on the Polygon network.

On Oct. 26, BitPay and Polygon jointly announced the integration of Polygon on the BitPay app, allowing customers to spend Polygon-bridged ERC-20 tokens.

The BitPay app is specifically preparing to . . . → Read More: BitPay to introduce USDC and ETH payments on Polygon network

Bitcoin miners rethink business strategies to survive long-term

The Bitcoin mining industry continues to face a challenging year as the price of Bitcoin (BTC) hovers around $20,000, coupled with rising energy costs in North America and Europe. Regulators have also recently started clamping down on crypto mining, as a recent report from the Bitcoin Mining Council (BMC) found that Bitcoin has seen . . . → Read More: Bitcoin miners rethink business strategies to survive long-term

Ethereum is ahead of Bitcoin this rally — But ETH price still risks 20% crash against BTC

Ethereum’s native token, Ether (ETH), recorded better gains than Bitcoin (BTC) over the past 24 hours despite the latter finally rising above the key $20,000 level.

Ether beats Bitcoin in risk-on rally

On the daily chart, Ether jumped approximately 14% to reach its weekly high of $1,554 (data from Binance) on Oct. 26. Bitcoin . . . → Read More: Ethereum is ahead of Bitcoin this rally — But ETH price still risks 20% crash against BTC

Google feels the bear market as crypto ad revenues slip since July

The latest earnings call from Google’s parent company, Alphabet, highlighted decreased search advertising spending from financial services and cryptocurrency subcategories.

Alphabet released its earnings report for Q3 on Oct. 25, outlining a 6% increase in revenue totaling $69.1 billion in comparison to Q3 last year. Revenues were down slightly from Q2 2022, dropping . . . → Read More: Google feels the bear market as crypto ad revenues slip since July

The UK has a new name for stablecoins and a new bill to regulate crypto

The United Kingdom moved forward on the Financial Services and Markets Bill on Oct. 25, hardening its vision for Bitcoin (BTC) cryptocurrency and “digital settlement assets” in the country.

The suggested bill proposes “a range of measures to maintain and enhance the U.K.’s position as a global leader in financial services, ensuring the sector continues to . . . → Read More: The UK has a new name for stablecoins and a new bill to regulate crypto

Singapore’s MAS proposes banning cryptocurrency credits

The Monetary Authority of Singapore (MAS) is introducing proposals to better regulate the cryptocurrency industry in the aftermath of the bankruptcy of the Singaporean crypto hedge fund Three Arrows Capital (3AC).

The central bank of Singapore has issued two consultation papers on proposals for regulating the operations of digital payment token service providers . . . → Read More: Singapore’s MAS proposes banning cryptocurrency credits

Crude Oil Holds Ground as Inventory Data Builds and US Dollar Dips. Will WTI go Higher?

Crude Oil, US Dollar, WTI, Brent, Hang Seng, USD/JPY, Gold – Talking Points Crude oil has held firm as supply and demand issues swirl APAC equities are in the green, but post-market US earnings are a drag If mild conditions persist across the EU and US, will WTI slump?

Recommended . . . → Read More: Crude Oil Holds Ground as Inventory Data Builds and US Dollar Dips. Will WTI go Higher?

Will Google Earnings Cut Down S&P 500 Recovery and How Serious is the Event Risk Ahead?

Google, Nasdaq 100, S&P 500, FXI, Dollar, USDJPY and Event Risk Talking Points: The Market Perspective: USDJPY Bearish Below 146; EURUSD Bullish Above 1.0000; Gold Bearish Below 1,680 A three-day advance form the Nasdaq 100 and S&P 500 may be cut down by a disappointing Google earnings and the anticipation of serious event risk . . . → Read More: Will Google Earnings Cut Down S&P 500 Recovery and How Serious is the Event Risk Ahead?

Gold Price Forecast: XAU Eyes BoC Rate Decision as Speculator Confidence Wanes

Gold, XAU/USD, XAU/CAD, Bank of Canada, COT, Speculators – Talking Points Gold is unchanged in Asia-Pacific trading after Australian CPI data comes in hot XAU/CAD may add to its losses if the Bank of Canada opts to hike rates at 75-bps Speculators have grown cold on the gold trade, according to recent CFTC . . . → Read More: Gold Price Forecast: XAU Eyes BoC Rate Decision as Speculator Confidence Wanes

Almost 50% of Gen Z and Millennials want crypto in retirement funds: Survey

Nearly half of Gen Z and Millennials want to see crypto become a part of their 401(k) retirement plans, according to an October survey from United States asset manager Charles Schwab. 

Asking participants what they would like to see added to their 401(k) retirement products, the firm found that 46% of Gen Z . . . → Read More: Almost 50% of Gen Z and Millennials want crypto in retirement funds: Survey

Australian Dollar Snubs Red Hot CPI that Puts the RBA on Notice. Where to for AUD/USD?

Australian Dollar, AUD/USD, CPI, Inflation, RBA, Budget, AUD/JPY – Talking Points The Australian Dollar went sideways after CPI beat expectations A 7.3% headline CPI gives the RBA something to mull over after a dovish tilt Bond yields skipped north, but the RBA will be the focus next week

Recommended by . . . → Read More: Australian Dollar Snubs Red Hot CPI that Puts the RBA on Notice. Where to for AUD/USD?

EUR/USD on Track to Clear Monthly Opening Range Ahead of ECB Meeting

EUR/USD Rate Talking Points

EUR/USD trades above the 50-Day SMA (0.9893) as it carves a series of higher highs and lows, and the exchange rate may stage a larger recovery ahead of the European Central Bank (ECB) meeting if it clears the opening range for October.

Advertisement EUR/USD on Track to Threaten Monthly . . . → Read More: EUR/USD on Track to Clear Monthly Opening Range Ahead of ECB Meeting

Sub-$20K Bitcoin price puts BTC miner profits under pressure as hash rate soars

October witnessed a surge in Bitcoin’s hash rate, which is pushing the metric to a new high of 245 exahashes per second. These changes led to a sharp decrease in the hashprice, resulting in a drop in the profit margins for Bitcoin (BTC) miners and reaching a low of $66.8 per petahash on Oct. 24.

According . . . → Read More: Sub-$20K Bitcoin price puts BTC miner profits under pressure as hash rate soars

Bitcoin price crosses $20K as daily crypto short liquidations pass $400M

Bitcoin (BTC) spiked above $20,000 on Oct. 25 as risk assets benefited from new U.S. dollar weakness.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin taps three-week highs

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $20,191 on Bitstamp.

The move came in tandem with rising United States equities, these . . . → Read More: Bitcoin price crosses $20K as daily crypto short liquidations pass $400M

CashApp adds support for Bitcoin Lightning Network

According to a new page added to its support section on Oct. 25, Cash App — a mobile phone payment processing app created by Block Inc. — has added support for transactions via the Bitcoin Lightning Network. The new feature allows Cash App users to send and receive Bitcoin (BTC) on the faster, more efficient . . . → Read More: CashApp adds support for Bitcoin Lightning Network

Public Bitcoin miners’ hash rate is booming — But is it actually bearish for BTC price?

The share of the Bitcoin (BTC) network controlled by publicly held mining companies could grow to 40% by mid-2023, according to a new report by Hashrate Index. But this could bring more stress to an already bearish BTC market.

Public Bitcoin miners’ hash rate jumps 295% in a year

The outlook appeared after assessing the hash . . . → Read More: Public Bitcoin miners’ hash rate is booming — But is it actually bearish for BTC price?

USDCNH Soars, S&P 500 Diverges from Chinese Markets, USDJPY Falls Short Again

S&P 500, Shanghai Composite, FXI, USDCNH, Recession and Earnings Talking Points: The Market Perspective: USDJPY Bearish Below 146; EURUSD Bullish Above 1.0000; Gold Bearish Below 1,680 China markets responded abruptly to the end of the National People’s Congress and the release of 3Q GDP and important September data Recession is the top focus for . . . → Read More: USDCNH Soars, S&P 500 Diverges from Chinese Markets, USDJPY Falls Short Again

HK and Singapore’s mega-rich are eyeing crypto investments: KPMG

Hong Kong and Singapore’s wealthy elite appear to be looking at digital assets with fervor, after a new report from KPMG suggesting over 90% of family offices and high-net-worth individuals (HNWI) are interested in investing in the digital assets space or have already done so. 

According to an Oct. 24 report from KPMG . . . → Read More: HK and Singapore’s mega-rich are eyeing crypto investments: KPMG