• The European Central Bank (ECB) surprised markets with a 50 basis point rate hike on Thursday.
• US stocks reacted lower but eventually recovered, buoyed by reports of JPMorgan and Morgan Stanley helping First Republic Bank.
• Bitcoin retested the $25,000 area as cryptocurrencies followed the stock market’s movements.

ECB Rate Hike Jolts Markets

The European Central Bank (ECB) shocked investors Thursday when it announced an unexpected 50 basis point rate hike. This caught markets off guard and US stocks initially dropped significantly in response.

Reactions to ECB News

The S&P 500 tumbled 0.7%, while the Dow Jones Industrial Average plunged over 300 points. However, stocks began to recover amid reports that banking giants JPMorgan and Morgan Stanley were coming to the aid of First Republic Bank, leading to a 1% increase in the S&P 500 index at 12:20 pm ET, while the Dow Jones was up 0.3%. The Nasdaq Composite rose by 1.5%.

Impact on Crypto Market

The crypto market also saw a reaction to the ECB news, with Bitcoin testing resistance around $25,000 despite trading lower earlier in the day due to broader market turbulence. Despite last week’s spike which had some observers believing that Bitcoin was becoming less correlated to equities, it is still highly tied to events surrounding traditional markets such as this one from the ECB.

Possible Fed Reaction

Crypto analyst Michael van de Poppe suggested that if the ECB continued its policy next week then it could lead to a similar move from Federal Reserve Chairman Jerome Powell who may raise interest rates by 25-50 basis points at its upcoming meeting next week.

Conclusion

Bitcoin and stocks have seen some recovery after being affected by news of an unexpected rate hike from the European Central Bank (ECB). Although US stocks have rebounded due to reports of help from banking giants JPMorgan and Morgan Stanley for troubled lender First Republic Bank, investors remain cautious about potential further action from both central banks going forward which could have an impact on both bitcoin and stocks alike.

• BitDAO’s coin BIT token price dropped 21% on Thursday as the market shifted focus to the upcoming token unlock.
• Data shows that there will be tokens worth $95 million that will be unlocked in the next five days.
• The current batch of tokens will finish being unlocked in September 2024 and Mantle’s launch is also contributing to the bearish trend in BIT price.

BitDAO Token Unlock Set To Dilute Market

BitDAO’s coin, BIT token, retreated to a low of $0.5073 on Thursday, which was about 21% below its highest level this year. The bearish sentiment is due to the upcoming token unlock that is expected to dilute existing holders and put pressure on the token’s value. Data compiled by TokenUnlocks shows that there will be tokens worth $95 million that will be unlocked over the next five days. Furthermore, BitDAO’s current batch of tokens are set to be fully unlocked in September 2024.

Mantle Launch Fades

The enthusiasm surrounding Mantle’s launch has also contributed to the bearish trend in BIT price. Mantle is a layer-2 network similar to Polygon, Arbitrum and Optimism which launched last month but now appears to have faded from market attention; contributing further downward pressure on BIT prices.

BIT Price Prediction

The 4H chart shows that BIT price has been declining steadily with it dropping below both its 50-day and 25-day moving averages. The MACD remains below the neutral level too; indicating further downside potential for this cryptocurrency pair.

About BitDAO

BitDAO is a decentralized platform making it possible for people to build dApps built on blockchain technology such as Ethereum and USD Coin among other digital assets like Tether (USDT). It uses these assets to provide funding for promising developers mainly through BitDAO tokens with only a small portion coming from FTX Token (FTT).

Conclusion

Overall, BitDAO’s upcoming token unlock presents a downside risk for its coinBITtoken as an increase in available supply tends to dilute existing holders‘ positions leading to lower prices for them overall; compounded by waning enthusiasm around Mantle’s launch exacerbating this effect even further.

• Cerus Markets is launching its Mobile Trading App Giveaway, which offers traders the opportunity to access its trading platform and potentially win a share of $10,000 in cash.
• The app allows users to speculate on major global stocks, commodities and metals with zero fees and leverage up to 100:1.
• To participate in the giveaway, traders must sign up for the waitlist at cerus.app and download the trading app when it becomes available.

Cerus Markets Launches Its Mobile Trading App $10,000 Giveaway

Introduction

Chainwire Cerus Markets is excited to launch its Mobile Trading App Giveaway! Announcing an upcoming release of its trading platform, Cerus Markets is giving traders an opportunity to be the first to access its Mobile Trading App and take a chance to win a share of $10,000 in cash.

About Cerus Markets

Cerus Markets is a regulated crypto broker offering a revolutionary way to trade digital assets. With its Mobile Trading App, traders will be able to access derivatives that allow speculation on major global Stocks, Commodities and Metals trading paired against currencies and crypto – all with zero fees and leverage up to 100:1.

How To Participate In The Giveaway?

To register for the Giveaway, visit cerus.app, sign up for the waitlist and download the trading app once it becomes available. A total of three winners will be chosen at random and announced via email and social media – awarding $5,000 as first prize; $3,000 as second prize; & $2,000 as third prize.
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Conclusion

Cerus Markets Limited is multi-asset broker authorized and regulated by the Labuan Financial Service Authority enabling market access for all levels of trading with no entry fees required – allowing traders place positions on multiple digital assets with as little as USD 50 only! Learn more about Cerus Markets at cerusmarkets.com

Contact Information

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• Amp price has been increasing steadily, reaching its highest point since September 11 last year.
• On-chain metrics show that the number of people using and holding Amp is relatively low.
• New York prosecutors have recently sued CoinEx for offering securities in its platform, including tokens like Amp, Luna, and RLY.

Amp Price Prediction: Technical Analysis Suggests a Brief Pullback

Price Increase

Amp token’s price has seen a steady increase in recent days, reaching its highest point since September 11th last year. The coin has risen by more than 121% from its lowest level last year. Despite this bullish momentum, on-chain metrics suggest that the number of people using and holding Amp is relatively low.

CoinEx Lawsuit

Recently, New York prosecutors sued CoinEx for offering securities in its platform – namely tokens such as Amp, Luna, and RLY. This could be an important factor driving the price of Amp up even further.

Daily Chart Analysis

The daily chart shows that Amp crypto price has made a strong recovery recently. It has managed to move above the key resistance level at $0.0059 and jump over the psychological level at $0.0050 while oscillators like the Relative Strength Index (RSI) and the MACD keep rising – all indications of further upside potential for Amp token. However, if it drops below the support at $0.0060 then this would invalidate any bullish views on it’s future performance..

Four-Hour Chart Analysis

On the four-hour chart we see that amp’s price has been in an overall bullish trend as well with several levels crossed including resistance points at $0.0053 and $0.0059 – both highs reached on Feb 8th and Jan 7th respectively .

Conclusion

Overall it appears that despite on-chain metrics not being particularly encouraging towards amp token’s success , news surrounding its being offered as a security through CoinEx seems to be driving prices up . Technical analysis also supports a possible brief pullback which can be used as an opportunity to buy into amp tokens before they rise again .

Summary

• Bitcoin recently rallied close to $25k, a new high for the year.
• The rally is indicative of further strength and has been in total divergence with the US dollar.
• Further upside is possible if the EUR/USD regains 1.10.

Bitcoin Rallies Close to $25K

Bitcoin investors must be thrilled as the leading cryptocurrency trades close to $25k. It is a new high for the year and a significant development for Bitcoin for at least three reasons. First, with the recent movement, Bitcoin returns for the year are close to 50%. Considering that we are only in the middle of February, that is no small achievement. Second, Bitcoin broke the previous high while maintaining a series of higher lows. That is indicative of further strength. Third, the recent upside came in a total divergence with the US dollar. The dollar gained after an inflation report was released last Tuesday, as seen by USD/JPY trading above 134 or EUR/USD trading below 1.07. But Bitcoin did not follow suit and continued its rally instead. BTCUSD chart by TradingView

Will Bitcoin’s Rally Continue?

When looking at Bitcoin’s performance compared to EUR/USD it becomes clear that Bitcoin’s rally might continue if EUR/USD reverses its recent losses and moves back to 1.10 – which is its high for this year – then one should expect to see Bitcoin trading close to or above $30k.

What Caused This Rally?

The current rally diverges from US dollar’s strength; when USD dropped from 1.10 to 1.07, so did BTC from $24k down to $21k; however now that BTC rallied while USD did not remain strong it might be indicative of BTC leading USD weakness moving forward into more gains should EUR/USD reverse its losses on move back up towards 1.10 again..

Conclusion

This analysis indicates that there may still be further upside potential for Bitcoin should EUR/USD regain 1.10 and start moving higher again which could potentially take it up towards or even beyond $30k mark level in near future

• SEC is reportedly considering banning crypto staking in the US for retail customers.
• Coinbase CEO Brian Armstrong tweeted saying that crypto staking is an essential innovation in the crypto space.
• Charles Hoskinson, the founder of Input Output Global commented on the matter saying Ethereum staking is problematic.

SEC Could Scrap Crypto Staking

The Securities and Exchange Commission (SEC) might be looking to ban crypto staking for retail customers in the US. Coinbase CEO Brian Armstrong tweeted saying that staking is an essential innovation in the crypto space and should not be banned. The tweet met with criticism from Charles Hoskinson who said Ethereum staking is problematic.

What Is Crypto Staking?

Crypto Staking is when users lock up their crypto assets for a certain amount of time to help support certain functions of a blockchain including governance and verifying transactions and get some staking rewards in return.

Brian Armstrong’s Revelation Met With Scorn

Armstrong’s revelation was met with scorn from many quarters, while some agreed with him, others responded with memes and derision. Charles Hoskinson commented on the matter saying that „Ethereum staking is problematic“ as it resembles regulated products such as slashing and bonds which he believes are not so good. On the other hand, he said non-custodial liquid stalking like mining pools used for 13 years are better since they offer more security.

Positive Impacts Of Crypto Staking

Brian Armstrong highlighted some positive impacts of crypto staking which include increased security and scalability as well as helping reduce carbon footprints. He also pointed out that it allows users to participate directly in running decentralized blockchain networks without having to invest large amounts of capital into buying cryptocurrency tokens or coins outrightly.

Final Thoughts

It remains to be seen if SEC will go ahead with its plans to ban crypto Stacking for retail customers or not but many people have raised their concerns about this potential decision and its possible effects on the industry at large.

• Altcoins are any coins or tokens that isn’t Bitcoin.
• Altcoins are created to fill a need that arises from perceived market gaps that Bitcoin does not fill.
• Popular altcoins include tokens of use, tokens of payment, tokens for security, and stablecoins.

Alternative cryptocurrencies, commonly known as altcoins, have been a major part of the blockchain industry since the genesis block of Bitcoin was created over ten years ago. Altcoins are any coins or tokens that isn’t Bitcoin and are created to fill a need that arises from perceived market gaps that Bitcoin does not fill. The variety of altcoins is growing and can be created by anyone with an internet connection due to blockchain’s open source nature.

Tokens of use are altcoins within a network that offer services like purchasing services, paying network fees, and redeeming rewards. Tokens of payment are exchanged for value in the form of currency, while tokens for security are tokenized assets regulated by the Securities and Exchange Commission and traded on stock exchanges. Stablecoins are altcoins that provide relative price stability and are usually backed by a reserve asset, such as gold or USD.

The most popular altcoins are Ethereum (ETH) and Tether (USDT). Ethereum is a decentralized platform that runs smart contracts and allows developers to create decentralized applications (Dapps). On the other hand, Tether is a stablecoin that is pegged to the US dollar, allowing users to store and transfer value without worrying about price volatility.

Overall, altcoins have become an integral part of the cryptocurrency market, providing more options to users than ever before. With new altcoins emerging every day, the possibilities are endless and the future of blockchain technology looks very promising.

• The great cryptocurrency crash of 2022 was caused by the FTX collapse, which highlighted inherent weaknesses in the industry.
• Metacade (MCADE) is a new project that reflects the innovation found in the Web3 space and could be the year’s best investment.
• Despite the FTX collapse, Web3 continues to grow and attract new investors.

The cryptocurrency crash of 2022 was an event that shook the entire industry. After a major collapse, Bitcoin (BTC) lost over 75% of its value, while many altcoins, such as Axie Infinity (AXS), Shiba Inu (SHIB), and Avalanche (AVAX), suffered losses of up to 90% since their all-time highs in 2021. The industry was further rocked by the bankruptcy of FTX – the second-biggest centralized exchange (CEX) at the time – in November 2022.

The FTX capitulation was caused by a number of factors, including treasury mismanagement from Sam Bankman-Fried (SBF) and the embezzlement of user funds through Alameda Research, which was a hedge fund under SBF’s control. In the wake of FTX and Alameda’s insolvency, many investors have started to question the security and stability of the cryptocurrency industry.

However, despite the FTX collapse, Web3 continues to grow and attract investors. New projects such as Metacade (MCADE) are emerging and are beginning to illustrate the level of innovation that can be found in the space. MCADE is a social gaming platform built on the blockchain that allows users to earn rewards for playing games. It is designed to be user-friendly and has the potential to become one of the most popular blockchain-based gaming platforms.

MCADE also has a unique rewards system that allows users to earn rewards for completing tasks such as playing games and referring friends. MCADE tokens can also be used to purchase in-game items and access special features. This rewards system is an attractive feature for new and experienced investors alike, as it encourages users to actively engage with the platform and provides a way to earn rewards while doing so.

All in all, MCADE is a promising project that could be the year’s best investment. Despite the market crash of 2022, Web3 continues to develop, and with projects like MCADE, investors can be sure that their money is in safe hands. MCADE’s rewards system is an attractive feature that encourages users to engage with the platform, and with its user-friendly design, it could become one of the most popular blockchain-based gaming platforms in the near future.

• Bitwise Chief Compliance Officer Kathrine Dowling is optimistic on stablecoin regulation in the US in 2023.
• Stablecoins are likely to be the first to get regulated in the US in 2023, according to Katherine Dowling, the general counsel and chief compliance officer at cryptocurrency investment firm Bitwise.
• Stablecoin regulation is a „narrower issue“ that regulators can easily get hold of, and Congress is keen on the issue of proper legislation.

Bitwise Chief Compliance Officer Kathrine Dowling is optimistic that the United States will be able to pass legislation regulating stablecoins by 2023. According to Dowling, stablecoins are likely to be the first type of cryptocurrency to receive regulation, due to the fact that the regulation required for stablecoins is relatively straightforward.

On Monday, Dowling was interviewed by CoinDesk TV and gave her thoughts on the issue of stablecoin regulation. She stated that the legislation was more likely to be passed this year as the sub-industry of stablecoins is not particularly complex. She also noted that the regulatory spotlight on the broader crypto industry could have provided a platform for rebuilding after the events of the past few months, such as the collapse of FTX.

Dowling believes that Congress is keen on the issue of proper legislation when it comes to stablecoins and that regulators can easily get a hold of the issues surrounding them. She believes that the US is looking to align with the global regulatory community and that this could result in the passing of legislation regarding stablecoins.

In order to ensure that the legislation is passed, Dowling believes that a collaborative effort between the US government, industry leaders, and regulators is essential. She also stated that the US should look to other countries for guidance on how to effectively regulate the use of stablecoins, as many other countries have already implemented regulations for their own stablecoins.

Overall, Dowling is optimistic that the US will be able to pass legislation regulating stablecoins by 2023 and that this legislation could be a major turning point for the entire cryptocurrency industry. By passing the legislation, the US will be able to ensure that the use of stablecoins is safe and secure, which will benefit both consumers and the industry as a whole.

Bullet Points:
– Ethereum put and call ratio on Deribit has risen this week.
– ETH bullish liquidations have also jumped in the past 2 days.
– Put and call ratio slips.

Ethereum has seen a significant pullback in price this week, with the cryptocurrency falling from a high of $1,600 to a low of $1,500. The retreat from the crypto bull market has coincided with a rise in the put/call ratio on Deribit, a key options market for Ethereum. The ratio, which is an important indicator of fear and greed in the crypto asset class, has risen from 0.24 to 0.3 in recent days.

At the same time, Ethereum’s bullish liquidations have also jumped significantly in the past two days. This indicates that traders who had gone long on the crypto asset are now closing their positions. This is likely due to the recent weak corporate earning reports coming out of the United States, which have put a damper on the optimism that had been building up around the crypto market.

The put/call ratio, which measures the number of puts placed in the market relative to the number of calls, is an important tool that traders and investors use to predict whether an asset will rise or not. Generally, a lower ratio is preferred since it means that there are more buyers in the options market. However, it is important to note that The Block’s data only includes Deribit, and does not include other exchanges.

The data from CoinGlass also shows that the number of short liquidations in key exchanges has risen to the highest point in recent days. This suggests that traders who had gone short on Ethereum have now closed their positions, which could be a sign of a further retreat in price.

Overall, the Ethereum market is showing signs of weakness and the put/call ratio is a key indicator to watch in the coming days. If the ratio continues to edge higher, it could be a sign that the crypto asset is heading for a further retreat.