Dogecoin Rises after Elon Musk’s Tweets
The CEO of Tesla and Twitter has shared some doge-related tweets this week, helping DOGE/USD higher, amidst renewed regulatory scrutiny around the broader crypto industry
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The CEO of Tesla and Twitter has shared some doge-related tweets this week, helping DOGE/USD higher, amidst renewed regulatory scrutiny around the broader crypto industry
ETH/USD lost nearly 10% last week, on news that Kraken shut-down its staking business in a settlement with the SEC, but finds support at the start of the current one
Bitcoin is trading in its neutral area between its blue bands. It’s flirting with the bearish channel between the lower blue and red bands. The Bollingers are squeezing (green rectangle), suggesting a low volatility period. Bollinger theory suggests that this cannot be maintained for long and that volatility will expand following squeeze periods. A potential catalyst may be the CPI data due for release on Tuesday
The US Fed hiked by 25 bps and pointed to more tightening, but weak pushback against markets expectations for a pivot hurt the greenback and helped BTC/USD to higher highs
The top chart shows bitcoin’s weekly chart, the bottom chart is the US10-year real rate. Bitcoin is showing strength as real rates moderate.
Recent price action has the cryptocurrency above its 150-day EMA, and the EMA is turning up. It has spiked above $21,000. It’s possible that the sideways movement since June 2022 has been a large accumulation pattern (green rectangle).
BTC/USD consolidates today, but runs a solid week, showing resilience to news that Coinbase is laying-off around 20% of its workforce
ETH/USD has made a solid start to the new year and today it extends last week’s gains, as optimism for a fed pivot keeps the greenback on the back foot
The US Fed moderated its tightening pace last week, but sees rates peaking higher than previously expected, with the hawkish stance knocking BTC/USD down
BTC/USD rose to the highest levels in a month and past key resistance, following the moderation is US inflation, as markets now brace for the Fed’s policy decision
ETH/USD loses ground after two profitable weeks and is in a tough spot, following its failure to surpass key technical levels
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