Coinbase CEO confirms 50% decline expectations in revenue.
Coinbase Global CEO Brian Armstong said the company’s revenue would be half or less what it was last year as the crypto exchange struggles amid stark price drops in cryptocurrency prices and continuing ripple effects from multiple bankruptcies this year, including the recent collapse of rival exchange FTX.
Slowing crypto startup funding may still surpass 2021 record.
Research firm Pitchbook said that total funding at crypto startups this year is set to exceed investments in 2021. However, the pace of capital deployment is slowing as a series of crypto blowups sapped private equity investment appetite.
Celsius bankruptcy judge orders return of some crypto assets to customers.
A U.S. bankruptcy judge ruled that some crypto lender Celsius Network customers should receive their deposits back, giving relief to a relatively small group of customers whose deposits were never commingled with other Celsius funds.
BTC/USD exploded 2.1% in the last session.
The Bitcoin-Dollar pair skyrocketed 2.1% in the last session. The Stochastic-RSI indicates an overbought market. Support is at 16483.3333 and resistance at 17317.3333.
The Stochastic-RSI is signalling an overbought market.
ETH/USD skyrocketed 3.8% in the last session.
The Ethereum-Dollar pair rose 3.8% in the last session after gaining as much as 4.7% during the session. The Stochastic indicator is giving a negative signal. Support is at 1188.3567 and resistance is at 1296.5167.
The Stochastic indicator is currently in the negative zone.
XRP/USD skyrocketed 2.4% in the last session.
The Ripple-Dollar pair skyrocketed 2.4% in the last session. The Ultimate Oscillator gives a positive signal. Support is at 0.3656 and resistance at 0.4011.
The Ultimate Oscillator is currently in positive territory.
LTC/USD skyrocketed 1.1% in the last session.
The Litecoin-Dollar pair skyrocketed 1.1% in the last session. The Stochastic indicator is giving a negative signal. Support is at 73.351 and resistance at 82.131.
The Stochastic indicator is currently in the negative zone.
Daily Economic Calendar:
FI Industrial Output
The Industrial Output shows the production volume of industries, i.e., factories and manufacturing. Finland’s Industrial Output will be released at 06:00 GMT, the Austrian Industrial Production at 08:00 GMT, and the US Producer Price Index at 13:30 GMT.
AT Industrial Production
Industry is a basic category of business activity. Changes in the volume of the physical output of the nation’s factories, mines, and utilities are measured by the index of industrial production.
US Producer Price Index
The Producer Price Index measures the average changes in prices in primary markets by producers of commodities in all states of processing.
US Michigan Consumer Sentiment Index
The Michigan Consumer Sentiment Index is a survey of consumer confidence in economic activity, making it an indicator of consumer spending. The US Michigan Consumer Sentiment Index will be released at 15:00 GMT, the UK’s Consumer Inflation Expectations at 09:30 GMT, and the UK’s CFTC GBP NC Net Positions at 20:30 GMT.
UK Consumer Inflation Expectations
The Consumer Inflation Expectation presents the consumer expectations of future inflation for the next 12 months, which may influence rate decisions.
UK CFTC GBP NC Net Positions
The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
