US Inflation Data Released
The highly anticipated US inflation data was announced. Headline inflation was announced as 3.7% yoy, above the expectations, while monthly inflation was realized as 0.6%, within the expectations. Core inflation was realized as 4.3% yoy, while monthly core inflation was realized as 0.3%, above the expectations. While there was not much intense movement in the markets after the data, we see that risky assets perceived the data somewhat positively.
FTX had applied to the court to liquidate its crypto assets. FTX’s request was granted in yesterday’s decision. FTX, which has a total of $3.4 billion in crypto assets, has over $1 billion in Solana. It was also learned that FTX’s total asset amount exceeded 10 billion dollars with securities and real estate held outside of crypto assets.
PayPal Paid $500,000 in Transaction Fees
PayPal paid a 20 Bitcoin transaction fee for a Bitcoin transaction yesterday. It was later learned that this was a mistake and was related to Paxos. Paxos announced yesterday that the incident was caused by a bug and that only one transaction had such a situation. At the same time, it was also stated that clients will not be affected and their assets are safe.
Stake Development in Cardano
Cardano’s Lace Wallet has taken the first step towards an important development. With the added feature, users will be able to stake their ADA tokens in multiple pools. While this feature creates an important privilege for Cardano users, it also decentralizes Cardano. With the total number of staking investors exceeding 1.3 million, Cardano’s developments and steps in this regard will increase the number of staking users.
Gary Gensler Talks About Cryptocurrencies
SEC Chairman Gary Gensler made important statements about crypto assets in his speech to the Senate yesterday. At a conference yesterday, he said that he has never seen another place full of so many people abusing power and evading the law regarding crypto-assets, and that millions of investors have been victimized, which could affect the financial system in the future.
Bitcoin is priced at $ 26,194 with a 0.10% loss in value as of today morning hours. While the price rose above 26,000 again with the rise in Bitcoin before the data, we see that the data was evaluated positively with the retreat in the core data and the developments seen on a sectoral basis, despite the inflation data coming above expectations. For now, the important thing in Bitcoin, which encounters resistance in the 26,500-26,600 region, will be to provide persistence above 26,000.
ETH, which gained 0.38% as of morning hours, is priced at $ 1613. We see that the negative pricing seen in Ethereum ended yesterday, and although there was not a very strong rise, the price managed to rise above $ 1600. After exceeding the 1600 and 1620 resistances, ETH, which could not provide permanence above 1620, returned to the 1600-1620 range again after the 1640 return. For now, we can see how long the ongoing retracement in ETH will last and then moves can be made depending on the levels.
XRP is priced at $0.4815, down 0.37% as of morning hours. In XRP, we see an ascending triangle pattern on the hourly chart. The resistance level of 0.4860 was actually working as a support level that we broke downwards. For now, we see that we have not been able to break this level and we have returned to the support level. If we can stay above support and return to 0.4860, there will be a new chance for a breakout. However, we would also like to say that we are nearing the end of the pattern.
AVAX is priced at $ 9.27 with a 0.22% loss in value as of morning hours. While AVAX continued its weak pricing, it tested the descending movement that it realized with yesterday’s bullish move upwards and failed to succeed and retreated again. We can say that Avax is supported by the range of 9-9.10 and this region is the support of the descending triangle pattern and the only support level of Avax after 9.30.
SOL is pricing at 18.65 with a gain of 1.36% as of morning hours. We see that the price reached the level of 19.40 with the news and the rise in the market after the support from the 17.70 region was seen in Solana, but it could not provide permanence here and returned to the support of 18.60 again. If Solana can provide persistence above 18.60, we can say that the $ 19 region can be targeted again.
LINK, which lost 0.08% as of morning hours, is priced at 6.026. Although there was a rise to 6.05 resistance in LINK, we see that the upward breakout did not come and the price is trying to hold on to the $ 6 level. In case of a breakout, the target level will be 6.10 and then 6.25.
MKR is pricing at $ 1177, up 2.08% as of morning hours. In MKR, we see that after the return from the support level, the positive movement continued and rose up to 1190 resistance and could not break this upward for now. While Maker continues its positive divergence compared to the market, we can say that the target price will be 1270 in case of a breakout of 1190.