UK enforces crypto tax break for foreigners
The U.K. is enforcing a tax exemption for foreign investors purchasing crypto through local investment managers or brokers. The tax break, announced in December, is a part of Prime Minister Rishi Sunak’s plans to turn the U.K. into a crypto hub.
Bitcoin assists in Musk’s wealth plunge.
Elon Musk’s wealth plunged to $137 billion due to the performance of Tesla shares, which saw another 11% drop last week before 2022 ended. Aside from the plummeting Tesla shares, the electric vehicle maker also lost a significant amount due to its Bitcoin holding, around $180 million.
FTX Japan to allow customers to withdraw funds.
FTX Japan customers will be able to withdraw their funds as of mid-February, the subsidiary of FTX Trading said in a blog post, making them some of the first customers of the collapsed crypto exchange to get their money back.
BTC/USD gained 0.7% in the last session.
Bitcoin gained 0.7% against the Dollar in the last session. The Stochastic indicator is giving a negative signal. Support is at 16474.3333 and resistance at 16728.3333.
The Stochastic indicator is currently in negative territory.
ETH/USD skyrocketed 1.4% in the last session.
The Ethereum-Dollar pair exploded 1.4% in the last session. According to the Stochastic-RSI, we are in an overbought market. Support is at 1186.291 and resistance at 1211.211.
The Stochastic-RSI is signalling an overbought market.
XRP/USD skyrocketed 3.7% in the last session.
The Ripple-Dollar pair exploded 3.7% in the last session. According to the CCI, we are in an oversold market. Support is at 0.3338 and resistance at 0.3423.
The CCI points to an oversold market.
LTC/USD exploded 6.0% in the last session.
The Litecoin-Dollar pair skyrocketed 6.0% in the last session. The ROC is giving a positive signal. Support is at 68.0833 and resistance at 72.8433.
The ROC is currently in positive territory.
Daily Economic Calendar:
US 3-Month Bill Auction
Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. The US 3-Month Bill Auction will be released at 16:30 GMT, the US 6-Month Bill Auction at 16:30 GMT, and Germany’s Unemployment Change at 08:55 GMT.
US 6-Month Bill Auction
The auction sets the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive.
DE Unemployment Change
The Unemployment Change is a measure of the absolute change in the number of unemployed people using seasonally adjusted data. A rise in this indicator has negative implications for consumer spending.
DE Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market. Germany’s Unemployment Rate will be released at 08:55 GMT, Japan’s Foreign Bond Investment at 23:50 GMT, Japan’s Foreign Investment in Japan Stocks at 23:50 GMT.
JP Foreign Bond Investment
The Foreign Bond Investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
JP Foreign Investment in Japanese Stocks
Securities investment referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
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.
