Crypto Daily Report – February 4

Feb 4, 2022
body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightFebruary 4, 2022Bitcoin and Ethereum continue their week of robust performance despite the release of favorable job numbers this morning and a subsequent increase in the US 10-year, as they trade 10% and 13% higher, respectively. Much of the momentum is likely due to $160 million of combined short liquidations for BTC and ETH over the past 24 hours. Elsewhere, metaverse names are performing well, as the Metaverse Index (MVI) is trading 11% higher on the day. This follows a week in which Facebook (Meta), the social media company looking to build a centralized version of the metaverse, sold off dramatically. As a bout of extreme winter weather approaches Texas, several large bitcoin miners have powered down operations to ease the burden on the Texas power grid (ERCOT). This event could serve as an early test as to whether BTC mining can help power grids increase capacity and thus become more stable during instances of irregular demand. Last year, before a plurality of hash rate migrated to the US, Texas experienced a s

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC -0.77% breaking below $67k, ETH 0.16% finding support around $3500, and SOL -2.17% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In