By Francisco Rodrigues (all times one unless otherwise stated)
While Bitcoin (BTC) has been slightly changed over the last 24 hours, only 0.7%down, the wider market is in a bearish mood after the weight token bin, which has led to allegations of fraud and calls for forgery of Argentina’s president Javier Milei.
The Coindesk 20 index is down to 2.3% over the last day, and the almost for the medium term market movement is probably hanging on how the US-Russia negotiations in Riyadh are going. Negotiations focus not only on ending the conflict in Ukraine, but also on “normalization” of ties between the countries.
A further layer of uncertainty comes from FTX Digital Markets, the Bahamas-based subsidiary of FTX, which begins to repay creditors today. In total, FTX’s repayment program will be around $ 16 billion.
Liquidity injection comes in the form of stableecoins. First, creditors with claims are below $ 50,000 who will receive approx. 119% of their assessed claim value, with 9% annual interest rate accrued since November 2022.
The effect that the refund wants is unclear. While some analysts say the amount repaid now is “too small to move the needle”, others suggest that FTX’s historical interest in the Solana ecosystem means some of these funds will flow to it.
Investors have recently approached Ether. US-notified spot-ETFs, offering exposure to the second largest cryptocurrency at market value, see a cumulative net influx of $ 393 million this month. It is compared to a net outflow of $ 376 million to Spot Bitcoin ETFs.
These influxes come in front of Ethereum’s Pectra upgrade, which enters its test phase on the Holeky test network. Pectra should bring a number of improvements to scalability and security and allow users to pay for gas fees with symbols other than ether.
Elsewhere, individual investors are Bearish in the midst of Trade War threats, reduced interest rate of interest rate and consistent inflation surpluses. A study by the American Association of Individual Investors found that Bearishness among investors is at a two-year height, the Wall Street Journal reports.
However, this pessimism is often a contraric indicator. Institutional investors’ risk appetite has also fallen this month over the potential effects of a potential trade war in the midst of the lowering odds of a fat rate cut. Stay aware!
What to look at
- Crypto:
- Macro
- February 18 at. 10:20: San Francisco Fed President and CEO Mary C. Daly gives a speech in Phoenix. Livestream -link.
- February 18, 7 p.m. 13:00: Fed’s Michael S. Barr train, Vice -President of Supervision, gives a speech entitled “Artificial Intelligence in the Economy and Economic Stability” in New York. Livestream -link.
- February 19, 14:00: Fed releases minutes of the FOMC meeting 28-29. January.
- Earnings
- February 18: CoinShares International (CS), Pre-Market
- February 18: Semler Scientific (SMLR), Post-Market
- February 20: Block (XYZ), Post-Market, $ 0.88
- February 24: Riot Platforms (Riot), Post -Market, $ -0.18
- February 25: Bitdeeer Technologies Group (BTDR), Pre -Market, $ -0.53
- 25th February: Cipher Mining (digifr), pre -market, $ -0.09
- February 26: Mara Holdings (Mara), Post -Market, $ -0.13
Token -events
- Government
- Unlock
- February 21: Quick token (FTN) to lock 4.66% of circulating supply worth $ 78.6 million.
- February 28: Optimism (OP) to lock 1.92% of circulating supply worth $ 34.23 million.
- Token launches
- February 18: Ethena (ENA) to be erected at Arkham.
- February 18: Ronin (Ron) to be listed on Kucoin
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.
Token Talk
By Francisco Rodrigues
- Donald Trump -supporters are ready to receive about $ 50 worth of the official Trump tokens if they purchased merchandise from the sites affiliated with the US president.
- The token was revealed only a few days before Trump joined and has lost more than 70% of their value since then.
- Solana-based decentralized exchange Jupiter has begun to accumulate USDC using 50% of the collected protocol fees to buy back Jup-Tokens. The repurchases have not yet started.
- Jup’s price is more than 12% down over the past 24 hours over the protocol’s apparently involvement In weight cryptocurrency -debakel.
Derivatives Location
- The sun’s price may continue to fall as the open interest of eternal futures has increased by 5% over the last 24 hours, accompanied by a negative cumulative volume Delta (CVD). This combination indicates net sales pressure on the market.
- CVD for most major tokens is negative, indicating a bearish mood.
- BTC and ETH front dated or short-lived puts continue to be more expensive than calls on abandoned. The feeling is bullish after the expiry of February.
- Block streams contained an April outlet Bitcoin Bull put spread that involved strikes $ 85K and $ 100,000 and directly along $ 94,000 and $ 90,000 strikes. Ether Bull Call also spreads on the tape.
Market Movement:
- BTC is down 0.69% from 1 p.m. 16 A Monday to $ 95,802.76 (24 hours: -0.57%)
- ETH is down 2.88% of $ 2,698.31 (24 hours: -1.89%)
- Coindesk 20 has dropped 2.23% to 3,161.95 (24 hours: -3.03%)
- Ether Cesr Composite Staking Rate has risen 27 BPS to 3.18%
- BTC financing rate is at 0.0078% (8,5541% annual) on Binance
- DXY has increased by 0.36% at 106.94
- Gold has risen 0.97% of $ 2,922.9/OZ
- Silver has increased 0.70% to $ 32.99/oz
- Nikkei 225 closed 0.25% at 39,270.4
- Hang bed closed +1.59% at 22,976.81
- FTSE has increased 0.18% at 8,783.43
- Euro Stoxx 50 is unchanged at 5,520.7
- Djia closed Friday -0.37% at 44,546.08
- S&P 500 closed unchanged at 6.114.63
- Nasdaq closed +0.41% at 20,026.77
- S&P/TSX Composite Index Closed -0.84% at 25,483.2
- S&P 40 Latin America closed +2.12% at 2,490.30
- US 10-year-old Treasury rose 3 bps by 4.51%
- E-MINI S&P 500 FUTURES have increased 0.1% to 6,151.5
- E-MINI NASDAQ-100 futures rose 0.21% at 22,282
- E-mini dow jones industrial average index futures is down 0.15% to 44,676
Bitcoin -Statistics:
- BTC Dominance: 61.17 (0.85%)
- Ethereum to Bitcoin ratio: 0.02813 (-1.71%)
- Hashrate (seven-day sliding average): 790 EH/S
- Hashprice (Spot): $ 53.47
- Total fees: 6.93 BTC / $ 663.706
- Cme futures open interest: 174,200 BTC
- BTC priced in gold: 32.8 oz
- BTC VS GOLD MARKET CAP: 9.31%
Technical analysis
- The chart shows the market dominance of Tether’s USDT, the biggest dollar-pegged stablecoin.
- Its dominance frequency seems to have sprung from March 2024 low and teased a bullish double bottom pattern.
- In other words, USDT could become more dominant, which usually happens under market -covering price corrections.
Crypto shares
- Microstratey (Mstr): Closed on Friday of $ 337.73 (+3.94%), dropped 0.6% to $ 335.76 in Pre-Market.
- COINBASE GLOBAL (COIN): CLOSED TO $ 274.31 (-7.98%)
- Galaxy Digital Holdings (GLXY): Closed to C $ 27.65 (-2.54%)
- Mara Holdings (Mara): Closed to $ 16.90 (-0.06%)
- Riot Platforms (Riot): Closed to $ 12.27 (+0.33%)
- Core Scientific (Corz): Closed to $ 12.51 (-0.24%)
- Cleanspark (CLSK): Closed to $ 10.50 (-1.59%)
- COINSHARES VALKYRIE BITCOIN MINERS ETF (WGMI): CLOSED TO $ 23.40 (+0.52%)
- Semler Scientific (SMLR): Closed to $ 49.67 (+0.44%)
- Exodus Movement (Exod): Closed to $ 50.00 (unchanged)
Etf is flowing
The data below is from February 14. US markets were closed on February 17th.
SPOT BTC ETFS:
- Daily Net Tream: $ 70.6 million
- Cumulative net streams: $ 40.12 billion
- Collected BTC holdings ~ 1,180 million.
SPOT ETH ETFS
- Daily Net Tream: $ 11.7 million
- Cumulative net streams: 3.15 billion dollars
- They collected ETH holdings ~ 3,791 million.
Source: Father’s page -Investors
Flows overnight
Today’s chart
- While Bitcoin remains listless below $ 100,000, Wall Street’s Tech-Tongue Nasdaq 100 jumped close to record heights.
- If BTC’s historic positive connection with the technical stock is any guide, BTC could soon pick up a strong bid.
