Of Omkar Godbole (all times one unless otherwise stated)
Cardanos ada trades louder, bent by Grayscales recent spot -Tf application, while Bitcoin (BTC) remains rangebound on a deficient crypto market as we manage to Federal Reserve President Jerome Powell’s testimony to Congress.
Powell takes the stage at Capitol Hill later Tuesday for his half -yearly update of monetary policy. He starts with the Senate and repeats his performance in the Representant House on Wednesday.
The testimony is likely to do little to revive BTC’s recovery. Consensus is that Powell will maintain its data -dependent approach and reiterate that the central bank is not urgent to reduce interest rates anytime soon and is eager to observe more progress with inflation.
Data shared by Bloomberg’s Lisa Abramowicz shows that market -immersoned inflation rates for the next two to five years have risen to their highest levels since the beginning of 2023. Meanwhile, President Donald Trump’s tariffs could be supported by inflation. CME’s FedWatch tool currently shows that Traders expects only 50 basic points in cuts at the end of next year, significantly less than the Federal Open Market Committee (FOMC) described in its December forecasts.
However, there is a glimpse of hope: If the Consumer Price Index (CPI) release Wednesday comes in weaker than expected, it could create some volatility.
In other news, the Japanese Mobile Game Studio Gumi said it is planning to buy Bitcoin worth $ 1 billion ($ 6.6 million) after the Tokyo-listed Metaplan’s lead. The Metaplanet started buying BTC last year and its shares rose a staggering 4,800% in 12 months.
Social media continues to hum with debate on the imbalance in Ethereum’s ecosystem, where LAG-2 scaling products retain most of the generated revenue, while contributing only a small percentage back to the basic layer. Solana, meanwhile, continues to surpass Ethereum and other smart contracts Blockchains in decentralized exchange trading and turnover.
In traditional markets, Gold Tyrre takes, while copper, often seen as a power of attorney for global economic health, acts lower and breaks a six-day winning row. Stay aware!
What to look at
- Crypto
- Macro
- February 11, 10am: Fed-Chairman Jerome Powell presents his semi-annual report to the US Senate Committee for Banking, Housing and City Affairs. Livestream -link.
- February 11, 14:30: US House Financial Services Under Committee (“Digital Assets, Financial Technology and Artificial Intelligence”) Consultation entitled “A Golden Age of Digital Assets: Mapping a Path Forward.” The witness includes Jonathan Jachym, who is Kraken’s Deputy General Lawyer. Livestream -link.
- February 12, 8:30: The US Bureau of Labor Statistics (BLS) releases January’s Consumer Price Index (CPI) Report.
- Core Inflation Mother Est. 0.3% vs. Prev. 0.2%
- Core inflation speed yoy est. 3.1% against earlier. 3.2%
- Inflation rate mother est. 0.3% vs. Prev. 0.4%
- Inflation rate yoy est. 2.9% against prev. 2.9%
- February 12, 10:00 pm: FED chairman Jerome Powell presents his semi-annual report to the US House Committee on Financial Services. Livestream -link.
- February 13, 8:30: The US Bureau of Labor Statistics (BLS) releases January’s producer Price Index (PPI) report.
- Core PPI Mom est. 0.3% vs. Prev. 0%
- Core ppi yoy est. 3.3% vs. Prev. 3.5%
- PPI MOM est. 0.3% vs. Prev. 0.2%
- PPI Yoy Prev. 3.3%
- February 13, 8:30: The US Department of Labor releases unemployment insurance’s weekly requirements for the week, which ended February 8.
- Initial unemployed claims est. 216k vs. Prev. 219k
- Earnings
- February 11: Exodus Movement (Exod), Post-Market, $ 0.14 (2 ests.)
- 11th February: Hive Digital Technologies (HIVE), Post -Market, $ -0.15
- 12th February: HUT 8 (Cabin), Pre-Market, $ 0.05
- February 12: Iren (Iren), Post -Market, $ -0.01
- February 12: Reddit (RDDT), Post-Market, $ 0.25
- February 12: Robinhood Markets (Hood), Post-Market, $ 0.41
- 13th February: Coinbase Global (Coin), Post-Market, $ 1.89
- February 14: Remixpoint (TYO: 3825)
Token -events
- Management votes and calls
- Aave Dao discusses to recognize Hyperlend as a friendly fork of Aave that is inserted on the Hyperliquid EVM chain, as well as implementation of Aave V3 at Ink, Kraken’s Layer-2 Rollup Network.
- SKY DAO discusses, among other things, the boarding of Arbitum One to the Spark Liquidity layer, increasing the PSM2 speed limits on the base and spending 100 million USDS worth of Susds to the base to meet the growth on the network.
- Morpho Dao discusses a 25% reduction in Morpho rewards at both Ethereum and Base after another reduction came into force on January 30.
- Dydx DAO votes that Dydx Treasury Subdao takes control of STDYDX within the protocol’s community school and any symbols accrued through the auto composition of poor salaries.
- February 12 14:00: Render (Render) to host an AI scout Discord AMA session.
- Unlock
- February 12: Aethir (ATH) to unlock 10.21% of circulating supply worth $ 23.80 million.
- February 14: The sandbox (sand) to lock 8.4% of circulating supply worth $ 80.2 million.
- February 16: Arbitum (Arb) to lock 2.13% of circulating supply worth $ 42.93 million.
- February 21: Quick Token (FTN) to lock 4.66% of circulating supply worth $ 78.8 million.
- Token launches
- February 12: Avalon (breeding) to be erected on Bybit.
- February 12: Game7 (G7) to be performed on Bybit, Gate.io, Hashkey, Mexc, XT and Kucoin.
- February 13: Ethereumpow (ETHW) and Polygon (Matic) until no longer supported by derivative.
Conferences:
Coindesk’s consensus about taking place in Hong Kong on 18-20. February And in Toronto on 14 to 16 May. Use the code’s diary and save 15% on passports.
Derivatives Location
- Litecoin’s nearly 10% price increase over the last 24 hours is accompanied by an increase of 18% in the open interest of eternal futures. HBAR, UNI has also seen remarkable increases in open interest, according to VELO data.
- When we talk about eternal financing rates, Sun sees SUI negative readings in a sign of bias for bearish short positions.
- At 11%, ETH’s CME -Futures Basis is larger than BTCs, which can pull on carriers, resulting in a strong recording of ether -spot -Tfs.
- BTC, ETH put off the abolition has relieved a little. Streams have been muted.
Market Movement:
- BTC has risen 0.62% from 1 p.m. 16 A Monday to $ 97,989.64 (24 hours: +0.27%)
- ETH has increased 0.53% of $ 2,702.45 (24 hours: +2.07%)
- Coindesk 20 has risen 1.79% to 3,269.36 (24 hours: +1.77%)
- Ether Cesr Composite Staking Rate has risen 8 bps to 3.05%
- BTC financing rate is 0.01% (10.95% annual) on Binance
- DXY is unchanged at 108.31
- Gold has risen 0.58% of $ 2,931.2/OZ
- Silver is down 0.74% to $ 32.15/OZ
- Nikkei 225 closed unchanged at 38,801.17
- Hang bed closed -1.06% at 21,294.86
- FTSE is unchanged at 8,767.36
- Euro Stoxx 50 has increased 0.1% to 5,363.27
- DJIA closed Monday +0.38% at 44,470.41
- S&P 500 CLOSED +0.67% at 6.066.44
- NASDAQ closed +0.98% at 19,714.27
- S&P/TSX Composite Index Closed +0.85% at 25,658.9
- S&P 40 Latin America closed +0.77% at 2,428.87
- US 10-year-old Treasury was unchanged at 4.49%
- E-MINI S&P 500 Futures are down 0.33% to 6,068.5
- E-MINI NASDAQ-100 FUTURES ARE DOWN 0.47% at 21,743.5
- E-MINI DOW JONES INDUSTRIAL AVERAGE INDEX FUTURES have fallen 0.21% at 44,488
Bitcoin -Statistics:
- BTC Dominance: 61.21% (-0.59%)
- Ethereum to Bitcoin ratio: 0.02752 (0.77%)
- Hashrate (seven-day sliding average): 802 EH/S
- HashPrice (Spot): $ 53.19
- Total fees: 4.58 BTC / $ 445,648
- Cme futures open interest: 166,695 BTC
- BTC priced in gold: 33.3 oz
- BTC VS GOLD MARKET CAP: 9.46%
Technical analysis
- BTC’s monthly chart acts as an excellent illustration of how trend lines drawn from larger price points act as support levels.
- Over the past two months, the disadvantage has consistently been limited to about $ 90,000. This level is defined by a trendline connecting Twin Peaks from 2021.
Crypto shares
- Microstratey (MSTR): CLOSED MONDAY ON $ 334.62 (+2.16%), an increase of 0.15% to $ 335.11 in Pre-Market.
- Coinbase Global (Coin): Closed to $ 280.22 (+2.09%), an increase of 0.23% to $ 280.86 in the pre-market.
- Galaxy Digital Holdings (GLXY): Closed to C $ 27.24 (+1.3%)
- Mara Holdings (Mara): Closed to $ 16.76 (unchanged), an increase of 0.36% to $ 16.82 in the pre-market.
- Riot Platforms (Riot): Closed to $ 11.63 (-0.1%), dropped 0.1% at $ 11.62 in the pre-market.
- Core Scientific (Corz): Closed to $ 12.82 (+2.07%), an increase of 0.1% to $ 12.83 on the market.
- Cleanspark (CLSK): Closed to $ 11.18 (-1.32%), dropped 0.54% to $ 11.12 in the pre-market.
- COINSHARES VALKYRIE BITCOIN MINERS ETF (WGMI): CLOSED TO $ 23.50 (+1.51%), unchanged to $ 23.5 in pre-market.
- Semler Scientific (SMLR): Closed to $ 49.61 (+0.83%), an increase of 2.6% of $ 50.90 on the market.
- Exodus Movement (2.
Etf is flowing
SPOT BTC ETFS:
- Daily Net Tream: -$ 186.3 million
- Cumulative net streams: $ 40.52 billion
- Total BTC holdings ~ 1,177 million.
SPOT ETH ETFS
- Daily Net Tream: -$ 22.5 million
- Cumulative net streams: 3.16 billion dollars
- They collected ETH holdings ~ 3,791 million.
Source: Father’s page -Investors
Flows overnight
Today’s chart
- Solana-based decentralized exchanges have hosted more trading volume than Ethereum since October.
While you were asleep
- Ether is underpinned, but the total value locked in Ethereum increases: CITI (Coindesk): A CITI research document says ether has underpinned Bitcoin this year, despite Ethereum’s improvement of basic, increasing total value locked (tvl ), continued ETF flow and potential for crypto -friendly US regulation.
- Hedge funds are short ether cme futures like never before. Is it carrying trade or direct bearish bet? (Coindesk): Hedge funds hold a record ether futures shorts at CME, mainly for carrying subjects that benefit from the difference between Spoteth Etf and Eth Futures pricing. Bearish efforts can also contribute.
- Trump puts 25% duty on steel, aluminum, expansion of trade war (Bloomberg): President Trump placed a 25% duty on all imported steel and aluminum, which is in force on March 12 with the aim of increasing domestic production and creating new jobs .
- Chinese companies do not know where to place their cash – and it triggers a record increase in dividend payments (CNBC): Chinese companies offer record dividends and repurchases of shares called by government reforms to improve shareholder returns.
- British inflation threat is retiring, says Boe Rate-Setter, who voted for the Big Cut (Financial Times): Catherine Mann, an external member of the Bank of England’s Monetary Policy Committee, said she had voted for a 50 base point rate in the last week, with reference to reduced reduced inflation pressure.
- Wazirx offers 85% of stolen user funds as Rebalansing ends (Coindesk): Indian crypto exchange Wazirx, hacked last year, hopes to start the first distribution of funding in April for the purpose of coming later.
