FOMC Meeting Minutes Released
According to FOMC meeting minutes released on Wednesday, Fed officials stated in their last meeting that they were in no rush to reduce interest rates and expressed that they were both optimistic and cautious about inflation. “Most participants noted the risks of moving too quickly to ease the policy stance and emphasized the importance of carefully evaluating incoming data to decide whether inflation has fallen sustainably to 2 percent,” the minutes said. It was said.
Ripple CEO Supports Spot XRP ETF
Ripple Labs CEO Brad Garlinghouse announced his support for the spot Ripple ETF. In the Bloomberg interview, Garlinghouse shared his thoughts on the current state of the cryptocurrency market and added that creating a variety of exchange-traded funds focused around different tokens is inevitable, as this would further diversify the risks associated with such trading.
Nvidia’s Balance Sheet Announced Above Expectations
With its balance sheet announced on Wednesday, Nvidia stated that its average earnings per share increased from $ 4.59 to $ 5.16 and exceeded analyst estimates. Additionally, Nvidia announced that it earned $22.1 billion in revenue, exceeding Wall Street’s expectation of $20.4 billion in revenue. After the balance sheet was announced above expectations, increases were seen in artificial intelligence coins AGIX, RNDR and FET.
FundStrat Research Head Tom Lee Raises His Bitcoin Target
FundStrat Research Head Tom Lee doubled down on bullish expectations, saying Bitcoin could reach $150,000 this year. “Demand is increasing with ETFs, supply is restricted with halving, and if there is an expected relaxation in monetary policy in 2024, this will be supportive for risky assets and Bitcoin,” Lee said in an interview with CNBC on Wednesday. said. Additionally, Lee stated that Bitcoin remains solid and does not see a decline starting anytime soon.
VanEck’s Bitcoin ETF Posts 2,200% Volume Increase in One Day
VanEck’s HODL, one of the ten largest spot Bitcoin exchange-traded funds in the United States, saw a 2200% increase in trading volumes on Tuesday, driven by support from retail investors. On Tuesday, HODL saw trading volume of over $400 million, a 22x increase from its daily average of $17 million. The figures were released ahead of VanEck’s planned fee cut on Wednesday. This reduction will reduce bid costs per application from 0.25% to 0.20%.
S&P Global Warns About Impact of Spot Ethereum ETFs on Staking Density
S&P Global Ratings highlighted in a recent analysis that the potential approval of spot Ethereum ETFs in the US, which include staking schemes, could increase concentration risks on the Ethereum network. According to the analysis, the SEC may approve spot Ethereum ETFs in May. However, the approval of ETFs could significantly shift the balance of validator power in Ethereum, presenting new challenges and opportunities as major financial institutions compete for a stake in this emerging industry.
$1 Billion Deleted from AVAX in One Day Due to Token Unlocking
On February 21, approximately $1 billion in value was erased from the Avalanche market value. According to Finbold’s report dated February 17, this happened before Avalanche’s highly anticipated token unlock and sale. Notably, the Avalanche’s market cap fell to $13.52 million from $14.42 billion the day before. Currently, the token is valued at $36.77 and its circulating supply is 367.716 million AVAX. Vesting contracts will increase this supply by 9.54 million AVAX in a few hours. Ultimately, this creates tremendous sales pressure of over $365 million.
Hong Kong to Consider Stablecoin and OTC Crypto Bill Soon After Consultation
The government will seek to fill out the licensing bill for over-the-counter cryptocurrency trading systems and stablecoins as discussions progress, a Hong Kong finance official said today. In a written response to a member of the Legislative Council, Financial Services and Treasury Minister Christopher Hui stated that the Financial Services and Technology Board (FSTB) submitted public comments on the proposed law that would create a licensing system at the beginning of this month. The deadline for the interview is April 12.
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BITCOIN(BTC)
In today’s morning hours, Bitcoin is trading at $51,590, down 0.50%. When we examine the four-hour chart, we see that there is horizontal movement between the $52300 and $50850 levels. With the breakdown of this region, it can be followed in which direction the movement will continue. If the $52,300 level, which is the resistance zone, is broken upwards and persistence is achieved above, $53,000 and then $53,500 levels can be targeted. In case of a withdrawal, if the support zone of 50850 dollars is broken downwards and persistence is achieved below it, a withdrawal movement towards the 50000 dollar region may be possible.
ETHEREUM(ETH)
Ethereum, which lost 0.88% in value as of the morning hours, is priced at $2941. When we examine the hourly chart, we see that the support zone of $ 2890 is working well and there is an upward reaction from this area. When evaluated in the short term, the $2970 level appears as the resistance zone. If there is persistence above this region, the $ 3000 level and then the $ 3020 level can be tested. In case of a withdrawal, the levels of 2910 and 2890 dollars can be followed as support.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.5421 with a 1.26% loss in value. When we examine the hourly chart, we see that there is a horizontal movement between the $0.5375 and $0.55 levels. In case of an upward movement, the $0.55 level appears as an important resistance zone. If this region is broken upwards and persists above it, the $0.56 region can be tested. In case of a withdrawal, if the support zone of $ 0.5375 is broken downwards and permanence is maintained below it, the retreat may continue up to the 0.53 region.
AVALANCHE(AVAX)
AVAX is priced at $36.95 with a 1.75% depreciation as of morning hours. When we examine the four-hour chart, we see that there is an upward reaction and confirmation movement from the support zone of $ 36.50. If this movement continues, the $38.50 level can be followed as resistance. If the support zone is broken downwards, a withdrawal movement up to the $ 35 level may be possible.
SOLANA(SOL)
SOL is priced at $103.75 with a 1.18% depreciation as of the morning hours. When we examine the daily chart, we see that there was an upward reaction from yesterday’s withdrawal movement at the support zone of $ 100. The $105-107 level, which is the short-term resistance zone, seems important for the reaction movements to continue. If it persists above this region, the $115 level can be targeted again. In case of a withdrawal, the $95 level can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $18,405 with a 1% loss in value. When we examine the four-hour chart, we see that the support zone of $ 19,300 has been broken downwards. With this withdrawal movement, we see that the support zone of $18 is working. If the upward movement continues and persists above the $18,700 region, a move towards the $19,500 level may be possible again. In case of a withdrawal, if the $18 level is broken downwards, the $17,500 level can be followed as support.
AGIX
AGIX is priced at $0.71475 with a 4.60% gain in value as of the morning hours. When we examine the hourly chart, we see that the short-term movement started with a strong break of the $0.59 resistance zone and then continued. If this movement continues to persist, the $0.72500 level can be followed as resistance. In short-term withdrawals, the $0.70 and $0.68 levels can be followed as support.
RNDR
RNDR is priced at $7.3550 with a 6.25% gain in value as of the morning hours. When we examine the hourly chart, we see that the movement accelerated with the upward break of the $6.60 resistance zone. If the rise continues, the $7.45 level can be followed as resistance. In case of a withdrawal, the levels of 7.20 and 7 dollars can be followed as support.
