FED leaves interest rates unchanged
Last night at 22.00 the US Interest Rate Decision was announced. 4. for the first time in a row. In the statements that followed, Powell said that they are determined to bring inflation to the 2% target, that it will take some time and that their goal is to bring inflation down to 2% by 2026 and that they will continue with tight monetary policy until they are sure that inflation is falling.
SEC Delays Invesco Galaxy Ethereum ETF Application
The SEC opted to extend the deadline to approve or reject the Invesco Galaxy Ethereum ETF application until February 6, 2024. This postponement allows for a more thorough examination of the proposed rule change. The Invesco Galaxy Ethereum ETF is significant as its potential listing on the CBOE could have far-reaching implications for investors and the broader market.
Bitcoin May Be on the Balance Sheet of More Firms
According to the new standards published by the new Financial Accounting Standards Board (FASB) on December 13 and will take effect on December 20, 2024, the estimated market value of cryptocurrencies owned by businesses will be properly recorded in their accounting records. These instructions also set out how businesses can report when they keep assets in profit. In the past, companies holding cryptocurrency were only vulnerable to impairment on their balance sheet if the value of the cryptocurrency fell; even if the value of the cryptocurrency rose during the time it was held, it could not be increased on the balance sheet until it was sold. According to Klippsten, businesses can now use Bitcoin as a ‘strategic financial asset’ because it allows them to report gains and losses in value, which could encourage more people to use the cryptocurrency.
NodeKit Receives $1.2 Million Investment to Build Avalanche-Based Network
NodeKit, the developer of the Avalanche-based network SEQ, raised $1.2 million in a pre-seed investment round led by Borderless Capital with participation from Avalanche Blizzard Fund, Polygon Ventures and Wormhole Cross-Chain Ecosystem Fund. SEQ, a shared sequencer Layer 1 network that NodeKit is developing, will help aggregation chains initiate and decentralize transaction sequencing. SEQ will function as an independent blockchain or subnet within the Avalanche ecosystem.
Positive Statement from Circle CEO Jeremy Allaire on Stablecoins
Circle CEO Jeremy Allaire announced that the stablecoin industry is poised to flourish in the coming years. In an interview with CNBC, Allaire said the modern features of stablecoins will enable the sector to see explosive growth over the next few years as demand for the online digital dollar increases.
Gary Gensler Rejects Crypto’s Role in Capital Markets While Answering Bitcoin ETF Questions
Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), spoke disparagingly about spot Bitcoin ETFs in an interview with Bloomberg on December 13. “We have a $26 trillion treasury market that underpins our entire capital market, that’s how we finance our government, that’s how we conduct our monetary policy, and you want to ask me about crypto?” Gensler responded to a question about crypto.
JP Morgan Thinks Ethereum Will Take Center Stage in 2024
JPMorgan expects Ethereum to outperform Bitcoin and other cryptocurrencies in 2024, but at the same time the bank remains generally ‘cautious’ about crypto markets in the coming year. According to analysts, the main reason behind this idea is the EIP-4844 (Protodanksharding) update that will take place in the first half of 2024.
Worldcoin Introduces World ID 2.0
Worldcoin has introduced an upgraded World ID 2.0 that includes seamless integrations with major platforms. Shopify, Mercado Libre, Reddit and Telegram users will now be able to verify without revealing personal information thanks to the integration.
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BITCOIN(BTC)
Bitcoin is priced at $ 42,776 with a 0.24% loss in value as of today morning hours. Yesterday, $ 43,500 was tested again, but the upward break was not successful. Support between $43,000 and $42,500 looks strong. With the loss of this place, a retracement up to $ 42,000 can be seen. In pricing above $ 43,500, an increase up to $ 45,200 can be seen.
ETHEREUM(ETH)
ETH, which lost 0.06% as of morning hours, is priced at $ 2258. We see $2150 working as a strong support. If it stays above here, we said that an increase of up to 2300 dollars could be seen and there was an increase up to 2285 dollars. If the downward break of $ 2250 occurs, the first support position seems to be $ 2100.
RIPPLE(XRP)
XRP is priced at $0.6064 as of morning hours, down 0.27%. 0.62 dollars is the intermediate support level and it seems to have received support from here again. If persistence is achieved here, an increase up to $ 0.68 can be seen again. In case of a downward break, 0.60 is the next support position.
AVALANCHE(AVAX)
AVAX is priced at $ 38.26 with a 1.87% loss in value as of morning hours. After rising up to 43 dollars, there was a drop to 35 dollars with selling pressure. The $35 zone is a strong support and may pave the way for AVAX to reach $50 on the upside. Below $35, the first support seems to be $31.44.
SOLANA(SOL)
SOL is priced at $71.18 with a gain of 0.69% as of morning hours. When we examine the four-hour chart, we see that there is an upward reaction from the rising trend support and a movement towards $ 70 again. If the rise continues, the $ 72 level appears as an important resistance. In case of persistence above this level, a movement towards $ 75 levels can be seen. In case of a pullback, $ 68 can be followed as support.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 14.786 with a gain of 0.16%. When we examine the four-hour chart, we see a pricing below the $ 15 resistance zone. The first level to follow seems to be 15 dollars. In case of persistence above this level, a movement towards 15,300 and then towards the 16 region can be seen. In retreats, $ 14 can be followed as the main support level.
RNDR
RNDR is priced at $4.4738 with an 8% gain as of morning hours. When we examine the four-hour chart, it is seen that the consolidation zone broke upwards and continued its upward movement after testing this level. If this movement provides permanence, a movement towards the 4.6 region can be seen. In case of a pullback, the 4.2 level can be followed as support.
FET
FET is priced at $ 0.6627 with a 5% gain in value as of morning hours. When we examine the four-hour chart, the consolidation zone was broken upwards and the rise continued after this level was tested. With strong movement, a move towards the 0.7 region could come. In case of a pullback, the 0.64 region can be followed as support.
