Bitcoin soars past $24K to reach 2-week high.
Bitcoin bolted past $24,000 for the first time in two weeks after surging more than 8%, likely the result of the type of short squeeze that historically has sent prices higher. The percentage increase was the largest since BTC jumped 10.5% in September.
Cardano blockhain gets an upgrade.
An upgrade to improve security and interoperability features on the Cardano blockchain was pushed live. Dubbed “Valentine,” the upgrade will make enhancements to cross-chain functionality for DeFi applications building on the network.
Ethereum supply plunges 37% on crypto exchanges.
Ether, the second-largest cryptocurrency by market capitalization, has seen a constant decline in exchange supply over the past six months post-Merge. There was a total of 19.12 million ETH, worth $31.3 billion, on exchanges in September before the Merge. The number has now declined to 13.36 million ETH, worth $19.7 billion.
BTC/USD exploded 9.1% in the last session.
The Bitcoin-Dollar pair skyrocketed 9.1% in the last session. The MACD’s negative signal contradicts our overall technical analysis. Support is at 212961 and resistance at 227621.
The MACD is currently in negative territory.
ETH/USD skyrocketed 7.1% in the last session.
The Ethereum-Dollar pair exploded 7.1% in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 1467.3867 and resistance at 1609.1867.
The Ultimate Oscillator is currently in positive territory.
XRP/USD exploded 4.6% in the last session.
The Ripple-Dollar pair skyrocketed 4.6% in the last session. The RSI is giving a positive signal, which matches our overall technical analysis. Support is at 0.3574 and resistance at 0.396.
The RSI is giving a positive signal.
LTC/USD skyrocketed 5.9% in the last session.
The Litecoin-Dollar pair exploded 5.9% in the last session. The RSI is giving a positive signal. Support is at 88.471 and resistance at 99.551.
The RSI is giving a positive signal.
Daily Economic Calendar:
US Housing Starts
The Housing Starts captures how many new single-family homes or buildings were constructed. It is a key indicator of the housing market. The US Housing Starts will be released at 13:30 GMT, the US Initial Jobless Claims at 13:30 GMT, the Dutch Unemployment Rate at 05:30 GMT.
US Initial Jobless Claims
The Initial Jobless Claims is a measure of the number of people filing first-time claims for state unemployment insurance.
NL Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market.
IT Trade Balance EU
The Trade Balance measures the net of total exports and imports of goods and services. A positive value shows a trade surplus, while a negative value represents a trade deficit. Italy’s Trade Balance EU will be released at 09:00 GMT, Australia’s Employment Change at 00:30 GMT, Australia’s Unemployment Rate at 00:30 GMT.
AU Employment Change
The Employment Change is a measure of the change in the number of employed people, which in turn shows the strength of the Labour market.
AU Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market.
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.
