![]() ![]() The Fear & Greed Index Finds Support on BTC Return to $24,000 Binance and FTX updates need consideration together with news from the ongoing SEC v Ripple case. Investors should monitor the crypto news wires for regulatory activity and US lawmaker chatter. However, we expect the crypto news wires to continue providing direction. A fall in jobless claims and a jump in unit labor costs would be a bearish combination. US jobless claims and unit labor cost figures will influence the NASDAQ Composite Index and the broader crypto market. The BTC Day AheadĮconomic indicators will also draw interest. On Wednesday, the company announced a delay in its annual report filing, a red flag for investors. However, Silvergate Bank news tested buyer appetite. The response eased fears of a shift in Main Street sentiment toward the digital asset space following the collapse of FTX. “We continue to partner with crypto companies to improve fiat on and off ramps as well as progress on our product roadmap to build new products that can facilitate stablecoin payments in a secure, compliant, and convenient way.” Responding to a Reuters report from Tuesday, the Crypto Head at Visa, Cuy Sheffield, stated that the story was inaccurate. Visa ( V) addressed the rumors of company plans to hit pause on its crypto plans. However, the NASDAQ mini was up 17.5 points this morning.Ĭrypto News Wires Delivered Mixed Messages On Wednesday, the NASDAQ Composite Index fell by 0.66% in response to the stats and hawkish Fed chatter. Fed dove Kashkari is reportedly open to a 25-basis point or 50-basis point rate hike in March. Hawkish Fed chatter also weighed on the NASDAQ Composite Index. The ISM Manufacturing Prices Index jumped from 44.5 to 51.3. ![]() While the ISM Manufacturing PMI reflected a continued contraction across the manufacturing sector, the sub-components supported the more hawkish sentiment toward Fed monetary policy. The stats were good enough to mute the influence of US economic indicators and the NASDAQ Composite Index. Significantly, the manufacturing sector expanded for the first time since July 2022. The all-important Caixin Manufacturing PMI surged from 49.2 to 51.6 in February, beating a forecasted 50.2. Economic indicators from China drove demand for riskier assets during the morning session. ![]() China Economic Indicators and Visa (V) News Delivers Supportįed Fear and regulatory risk jitters took a backseat on Wednesday. ![]()
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