BitDigest January 11 · Issue #819
- Bitcoin falls 19% in weekend trading shaving $60 billion off total marketcap before recovery ensues
- ECB and UK Treasury looking for stakeholder input on possible CBDC designs
- China expanding DCEP trials
🅱️BitDigest will not be published tomorrow, Tuesday January 12th, and return on Wednesday morning.
The Headlines
ECB Asking for Final Thoughts on CBDC
UK Treasury Questioning Stakeholders on Crypto Regulations
FCA Warns of High Risks in Crypto Investments
China Expands Testing of DCEP with Phone-Free Card
Chile Forces Banks to Re-Open Services to Crypto Exchange
HSBC and Barclays May be Turning From Crypto Investors in UK
NYC Barkeep Looking to Sell Neighboring Establishments for Crypto
Mergers & Acquisitions
NYDIG Acquires Digital Assets Data
Nexon Denies Plans to Acquire Bithumb
Market Data
Bitcoin Difficulty Hits New High
Thoughts on the Ecosystem
JPM Thinks Bitcoin ETF Could Weaken Pricing
Bitcoin : the 'Mother of All Bubbles'
Bitcoin Follows 6 D's into New Period of 'Global Consumer Adoption'
Bitcoin Gets Less Risky the Higher the Price Goes
Gold Investors Could be Moving to Crypto
Elon Musk Would be Happy to Have Been Paid in Bitcoin
Reports you may have missed
Tornado Cash Developer Sentenced to 5 Years in Prison, LayerZero Succeeding Against Sybils
CRYPTO MARKET COMMENTARYAPRIL PPI CAME IN MIXED THIS MORNING, WITH A LARGE UPSIDE SURPRISE IN MOM READINGS (0.5% VS. 0.3% EXP.) AND YOY METRICS LARGELY IN LINE WITH EXPECTATIONS. The upside in the MoM reading was offset by March figures being revised downwards. Yields initially spiked upon the data release but have turned negative across the curve. Equities are showing mild gains as attention shifts towards tomorrow’s CPI data release. The SPY 0.66% has gained 0.17% and the QQQ 0.76% has gained 0.31%. Crypto assets are...
CRYPTO MARKET COMMENTARYBITCOIN REBOUNDED OVER THE WEEKEND, WITH PRICES FULLY RECOVERING FROM FRIDAY'S DRAWDOWN BY MONDAY MORNINg. BTC 4.51% is now trading just below $63k. Meanwhile, both ETH 2.68% and SOL 5.94% have lagged, trading at $3950 and $146, respectively. Altcoin flows seem to have shifted towards memecoins, which are outpacing the rest of the market today, with gains exceeding 5% from BONK 6.33% , DOGE 28.41% , and PEPE. This interest in memecoins likely stems from...
MARKET COMMENTARYA PRETTY SIZEABLE MISS IN TODAY'S CONSUMER SENTIMENT SURVEY REVERSED MOST OF THE GAINS EXPERIENCED IN THE CRYPTO MARKET OVER THE PAST 24 HOURS. Consumer sentiment came in at 67.4, well below market expectations of 77.2. 1Y inflation expectations came in at 3.5%, well above the market forecast of 3.2%. We saw the DXY 0.00% turn sharply higher on the move, and most risk assets sold off. BTC 4.51% fell from...
U.S. equity indices are showing modest gains today following weekly jobless claims coming in higher than expected, showing 231k versus 212k estimated, putting downward pressure on the DXY 0.00% (-0.21%) and rates. The SPY 0.66% has gained 0.36%, approaching the $520 mark, while the QQQ 0.76% has risen 0.14% to the $440. Crypto assets are showing larger gains, with BTC 4.51% (+1.57%) rising above $62k and ETH 2.68% (+1.05%) surpassing $3,000. The Render Networkâs mobile app, OctaneX, was featured in Appleâs keynote presentation earlier...