Most Important Daily
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| Daily Updates from FSInsight | January 13, 2022 |
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- The bounce in the crypto market slowed overnight, with the overall market increasing by 0.6% to reach $2.1T. Bitcoin and Ethereum increased to $43.7k (up 1.1%) and $3.4k (up 1.6%), respectively. Bitcoin's hash rate has nearly recovered to its ATH after civil unrest in Kazakhstan, the world's second-largest mining hub after the US, led to a forced power outage and the consequential shut down of 11% of the global hash rate. Sources report that almost 90% of its mining capacity is back online, working to secure the Bitcoin network.
- Switzerland is ready to integrate a CBDC into its economy following the successful completion of a test run. The Swiss are not issuing a CBDC from the central bank into retail accounts. Instead, the country is working to implement a digital token infrastructure through which digital cash tokens can be exchanged for tokens of other financial assets like stocks. This infrastructure is expected to increase efficiency and reduce the costs of trading assets while aiding regulatory organizations with the transparency and traceability of distributed ledgers.
- Wikipedia released a statement claiming that it might stop accepting crypto donations due to ESG concerns. The free online encyclopedia currently accepts Bitcoin, Ethereum, and Bitcoin Cash, all energy-intensive Proof-of-Work consensus protocols. Other concerns raised were that accepting crypto donations might be seen as an endorsement of the crypto industry, which some contributors believe discredits Wikipedia. An editor vote will be held in the near future on whether to refuse crypto donations.
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| Daily Technical Strategy | | Following a nearly perfect test of support at last September '21 lows, Bitcoin has begun a mild rally this week, which similar to other tokens, has carried prices up to just below its first real test of resistance on this bounce. Daily $BTCUSD charts show two key areas of technical importance coming together just above: First, the area near prior lows from mid-December which lies at $45,478. Second, the downtrend from November also intersects near this same area, giving it more importance as an important first test on its bounce from earlier this week. Overall, climbing above $46k, while early from a cyclical perspective, would suggest the start of a more meaningful bounce. Until then, it's thought that the zone from $45.5-$46k represents good resistance on this week's rally and should bring about a stalling out on this first move off the lows. Any close back under $41,284, Tuesday's lows, would bring about a move back to new monthly lows, so this is an important area of support that will need to hold in the days ahead on pullbacks. | |
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| Daily Important Metrics | | Sentiment 
Crypto Size Bullish Signal Bullish signal is tied to the crypto market growing Market Cap $2.1T +$32B (+1.57%) BTC Dominance 39.80% (-0.12%) | Stable Coins Bullish Signal Increase in circulating stablecoins is a Bullish signal In Circulation $78B (+0.01%) In Exchanges $5.8B (+0.18%) | Stablecoin Supply Ratio Bearish Signal Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC SSR 5.50 (1.94%) SSR Oscillator -1.50 (-5.37%) | Funding Rate Bullish Signal Positive funding rates indicate traders are Bullish Bitmex -0.0233% (+5.32%) Binance -0.0094% (+45%) |
| BTC Metrics Bullish Signal A decrease in Bitcoin on exchanges is bullish, indicates investors are moving coins to cold storage # BTC in Exchanges 2.5M (-0.03%) | Futures CME Bullish Signal A positive spread between Futures Prices and Spot Prices is Bullish BTC Price $44,300 (1.90%) Spot Basis $123 (0.28%) Volume 4,788 (-32%) Open Interest 10,859 (0.04%)
| Options CME No Signal Higher open interest change in a bull market is bullish for the sector Volume 69.00 (82%) Open Interest 1,449 (4.02%) Calls CME Bullish Signal Calls Volume 13.00 (-19%) Calls Open Interest 342 (13%) Puts CME Bearish Signal Puts Volume CME 6.00 (-73%) Puts Open Interest 1,107 (1.56%) |
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| | All metrics as of January 13, 2022 2:30 AM |
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| Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
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| BTC | $836B | $44,177 | 0.95% | -5.67% | | | ETH | $404B | $3,390 | 0.87% | -9.08% | -3.41% | | BNB | $81B | $486 | 0.94% | -6.19% | -0.52% | | SOL | $49B | $157 | 7.25% | -9.13% | -3.45% | | ADA | $44B | $1.31 | 3.42% | -0.97% | 4.70% | | XRP | $38B | $0.7955 | 0.13% | -5.59% | 0.09% | | DOT | $27B | $27.37 | 0.54% | 0.45% | 6.12% | | DOGE | $23B | $0.1716 | 8.78% | 0.01% | 5.68% | | LINK | $12B | $26.35 | -1.91% | 33% | 39% | | LTC | $9.7B | $140 | 2.55% | -5.25% | 0.42% | | BCH | $7.4B | $390 | 2.43% | -10% | -4.69% | | Our Deep Research Projects | | AVAX | $24B | $96.73 | 0.71% | -12% | -5.96% | | IOTA | $3.2B | $1.16 | -2.49% | -15% | -8.96% | | BSV | $2.1B | $113 | 0.02% | -7.12% | -1.45% | | AMP | $1.8B | $0.0427 | -0.91% | -12% | -6.37% | | ZIL | $822M | $0.0671 | 3.97% | -12% | -6.12% | | ZEN | $702M | $58.76 | -1.59% | -4.33% | 1.34% |
All prices as of January 13, 2022 2:46 PM |
| Exchanged Traded Products (ETPs) | |
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| Symbol | Premium to Nav | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
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| GBTC | -22% | $35.71 | -2.70% | 4.26% | 9.93% | | BITW | -22% | $41.88 | -2.83% | 9.78% | 15% | | ETHE | -13% | $32.93 | -5.18% | -68% | -62% | | QBTC | -3.27% | $62.82 | 1.72% | 2.95% | 8.62% |
All prices as of January 13, 2022 9:46 AM |
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| Symbol | Market Cap | Last Price | Daily Change | Year to date | Relative to BTC YTD |
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| PYPL | $216B | $187 | -1.27% | -0.68% | 4.99% | | SQ | $76B | $146 | -2.93% | -9.42% | -3.75% | | COIN | $65B | $238 | -1.90% | -5.89% | -0.22% | | SBNY | $18B | $365 | 0.28% | 13% | 19% | | HOOD | $15B | $16.30 | -1.98% | -8.22% | -2.55% | | MSTR | $6.1B | $513 | -2.10% | -5.78% | -0.11% | | SI | $4.2B | $134 | -1.67% | -9.28% | -3.61% | | MARA | $3.5B | $30.57 | -2.52% | -6.97% | -1.30% | | RIOT | $2.7B | $21.22 | -2.28% | -4.97% | 0.70% | | MOGO | $223M | $2.92 | 1.74% | -15% | -8.95% |
All prices as of January 12, 2022 6:14 PM *COIN YTD since 14/04/2021 |
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| | | | The Wikimedia Foundation is being asked to stop accepting cryptocurrency donations on behalf of Wikipedia, as scrutiny over the industry’s carbon footprint persists. |
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| | | | Centralization is the most common vulnerability in decentralized finance projects, Certik said. |
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| | | | Visa has teamed up with blockchain tech provider ConsenSys in order to develop new infrastructure for CBDCs. The post Visa and ConsenSys team up on CBDC tech appeared first on The Block. |
| | | Crypto holders want to use their assets to shop and stores around the globe are starting to take heed. |
| | | According to a recent interview, trial lawyer Kyle Roche from the legal firm Roche Freedman LLP has started a tech startup called Ryval that aims to be “the stock market of litigation financing.” The firm plans to launch during the first quarter and ... |
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| | | | Franklin Noll, an academic and monetary historian, has asserted that crypto can be both a security and a currency. Pointing to the history of U.S. money, Noll argues that being both a currency and a security is, in fact, not contradictory. The ‘Infam... |
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| | | | China does not want its crackdown on cryptocurrencies to cause the country to fall behind in the NFT boom. |
| | | Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS also took part in the test. |
| | | The submission is the first time a clear position has been taken by the central bank, according to local media reports. |
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| | | | GPS said on Thursday that it had increased its latest fundraise by $100 million, taking the total raised to $400 million. The post Global Processing Services extends fundraising round with another $100 million appeared first on The Block. |
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| | | | With Meta’s plan to build the metaverse already in full swing, reports from Wall Street Journal have indicated that the tech company has been poaching employees of rival tech firms like Microsoft and Apple. The post Facebook’s Meta is hiring staffs ... |
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