Wunderbares online

• Bitcoin (BTC) surged above $27,000 following the U.S. Federal Reserve’s decision to backstop embattled banks to a record tune of $152.9 billion.
• Ethereum (ETH) also rose and moved back above $1,700 in today’s session.
• The surge in prices pushed both BTC and ETH towards their strongest points since June 2022 and February 2021 respectively.

Bitcoin Surges Above $27,000

Bitcoin moved to a fresh nine-month high on Friday, as prices moved above the $27,000 level. The surge comes following the U.S. Federal Reserve’s decision to backstop embattled banks to a record tune of $152.9 billion. Following a low of $24,624.74 on Thursday, BTC/USD raced to an intraday peak of $27,002.39 earlier in the day. As a result of the move, bitcoin climbed to its strongest point since June 2022 when price was above $28,500

Technical Analysis

The 10-day (red) moving average is now on the verge of an upwards crossover with its 25-day (blue) counterpart which many see as a sign of a longer-term bull run while the 14-day relative strength index (RSI) has broken out of a resistance level at 67 moving into overbought territory in the process with an RSI reading at 70 at time of writing

Ethereum Moves Above 1,700

Ethereum (ETH) also surged higher in today’s session with prices moving back above $1,700 hitting an intraday peak of 1,766 earlier in today’s session coming less than 24 hours after hitting bottom at 1 644 54 In addition ETH also moved past it’s recent price ceiling at 1720

Technical Analysis

Similar to BTC it appears that an upwards cross between the 10 day red and 25 day blue moving averages is on cards but may face resistance from 65 00 RSI which is currently tracking at 62 86 if this level is surpassed then ETH could possibly trade beyond 1800

Biggest Movers

Other notable movers include LINK climbing above 7 while DOGE rebounds from recent lows all these are signs pointing towards further bullish momentum within crypto markets

• Wintop.io is an online betting platform that offers a variety of bonuses, promotions, casino games and sports events.
• Registration process is easy and secure. Players can also take advantage of the Accumulated Bonus system which rewards them for every bet they make.
• There is also an affiliate program available for agents who will receive a % on the total profits generated on the website.

Introduction to Wintop.io

Since December 2022, Wintop.io has been strongly growing into the crypto world with a new vision of the betting industry, combining crypto and the most exciting casino and sport games. It incorporates concepts such as decentralisation, blockchain technologies, and token-based economics to provide users with a unique gaming experience. The connectors available on Wintop.io allow users to register and deposit in just one click, making registration fast and secure.

Welcome Bonuses & Casino Tournaments

Wintop․io provides players with welcome bonuses when they register as well as 200% first deposit bonuses to enjoy thousands of casino games available on the site. Additionally, there are monthly casino tournaments offering prizes up to 500 USDT in rewards!

Sports Events & Accumulated Bonus System

Players can bet on all popular worldwide sports with pre match and in game odds – 150k pre-match and 35k in-play monthly – or take advantage of our Accumulated Bonus system which rewards them for every bet they make with increasing bonus percentages over time depending on how much they play!

Affiliate Program & Promotions

Online agents have access to an affiliate program offered by Wintop․io that allows them to get a share from every transaction made on their platform; including free spins, bonuses, tournaments and other promotions that can help players win big rewards! Withdrawal requests are attended only after a few hours so you can cash out your winnings quickly and securely!

Cryptocurrency Betting Revolution

Wintop․io is changing how people think about betting by providing innovative solutions for business needs while still being able to enjoy all the fun aspects associated with gambling including sports events combined with cryptocurrencies – providing players with more options than ever before!

• On March 2nd, 2023, Bitcoin’s price dropped below the $23,000 mark, leading to over $237.97 million in long liquidations on crypto derivative exchanges.
• 65 cryptocurrency derivative exchanges had a trading volume of $171 billion and an open interest for bitcoin futures of $9.06 billion on March 2nd.
• The highest liquidation occurred on Okx with a BTC/USD swap valued at around $4.16 million and Binance, Bybit, and Okx experienced the most liquidations out of all the exchanges.

Bitcoin Price Drop Causes Over $200 Million in Long Liquidations

On February 24th, 2023 Bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1st. Unfortunately, just one day later the price fell below this key level which caused a significant amount of long liquidations across various crypto derivative exchanges totaling over $237 million dollars.

Trading Volume and Open Interest Increase

Throughout February the trading volume and open interest for bitcoin futures increased drastically reaching a total of nearly 800 billion with Binance accounting for almost half that amount alone (468billion). The total open interest peaked at 9.73 billion on February 21st but has since decreased to 9.06 billion as of March 2nd .

Mostly Long Positions Liquidated

On March 2nd alone there were 206 million dollars worth of liquidations with 90% being long positions according to Coinglass reports. The largest single position was a BTC/USD swap on Okx valued at 4.16million dollars. Other major exchanges that experienced high liquidations include: Binance Bybit Huobi Coinex Deribit etc…

Liquidation Comparisons

The number of long positions that were liquidated on March 2nd due to this sudden drop in price was similar to what happened back when 254 million worth of long positions were wiped out back in February 8th . It was also comparable to when 190million worth of long positions were liquidated back on January 17th .

Short Positions Remain Steady

Despite these large losses from long traders , short traders have remained relatively steady betting against BTC’s potential rise with 9.2 million dollar short positions as recorded yesterday evening .

• Bloomberg Intelligence senior macro strategist Mike McGlone predicts a recession could be the top catalyst to push gold prices above $2,000 per ounce.
• According to McGlone, bitcoin needs to sustain above $25,000 in order to signal divergent strength versus central banks and their tightening policies.
• A key factor that may differ this time is the Federal Reserve’s willingness to adjust its stance if the stock market experiences a sharp drop.

March Outlook by Mike McGlone

Mike McGlone, senior macro strategist for Bloomberg Intelligence, shared his March outlook on commodities, precious metals, equities and bitcoin. He believes that a U.S. recession is a top catalyst that could drive gold’s price beyond $2,000 an ounce due to high chances of economic contraction from the yield curve in about 30 years and with the Federal Reserve still in tightening mode.

Bitcoin Price Analysis

McGlone questions whether or not the recent rally was hollow or an enduring recovery for bitcoin as it has never faced a U.S. recession and Fed tightening while having its 50-week moving average below 200-week. Bitcoin needs to remain above $25,000 in order for it to signal divergent strength versus central banks‘ tightening policies and swift snap-backs are typical of bear markets during such times.

Gold Price Analysis

The current week saw gold close to dropping below the $1,800 range and silver clinging just above $20 per ounce range while global cryptocurrency market capitalization stands at 1 trillion dollars after around 1% decrease over last day. The strategist believes that if bitcoin can sustain above 25k then most risk assets will bottom out but with US central bank still in tightening mode most markets have bounced back already.

Recession Chances High

McGlone has based his predictions on data which suggests highest probability of recession from three month till ten year Treasury curve since 1992 which makes chances of US sliding into recession look likely according to him . He also noted that one factor which might be different this time is willingness of Federal Reserve to adjust stance if stock market faces sharp drop off .

Conclusion

Overall Mike McGlone suggests that gold may rise beyond 2000 USD/ounce level if US slides into recession due too high chances of same however he notes that one factor which might be different this time is Fed’s willingness yo adjust stance if stock market experiences sharp drop off . Bitcoin also need sto stay aboe 25k in order fo show divergent strength vs central bank’s tightening policies .

• Norway’s Økokrim, in collaboration with the FBI and DOJ, have seized $6 million that was stolen from the Axie Infinity heist.
• The attackers are believed to be North Korean hacker group Lazarus and the money was laundered through crypto mixer Blender.io.
• This is the biggest crypto seizure Norwegian police have ever made and reflects successful international cooperation between law enforcement agencies.

Norwegian Authorities Seize Crypto Worth $6M From Axie Infinity Heist With FBI’s Help

Background of Attack

Axie Infinity suffered an attack in March last year after the Ronin network validators were compromised resulting a reported loss of $620 million. The attacker managed to get control over Sky Mavis’s four Ronin Validators and a third-party validator run by Axie DAO, according to Sky Mavis. It is believed that North Korean hacker group Lazarus was behind the heist.

International Cooperation for Recovery

Norwegian authorities, in collaboration with the Federal Bureau of Investigation (FBI) and the U.S. Department of Justice (DOJ), have allegedly seized about $6 million that was stolen in last year’s Axie Infinity heist. Økokrim explained that it has seized 60 million kroner (approximately $5.8 million) in cryptocurrency in connection with this attack and money laundering operation immediately after the attack which processed over $20.5 million in illicit proceeds via Blenderio – a crypto mixer sanctioned by OFAC (Office of Foreign Assets Control).

Biggest Crypto Seizure Ever

This is reportedly the biggest crypto seizure Norwegian police have ever made as First State Attorney Marianne Bender commented: „We work with FBI specialists on tracking cryptocurrency. Such cooperation between countries means that we as a society stand stronger in the fight against digital, profit-motivated crime.“

Axie Infinity Response

Sky Mavis, developer of non-fungible token (NFT)-based online video game responded to this news by thanking all those who assisted them in recovering these funds: “We would like to thank everyone who helped us investigate this case and recover some of our lost funds! We still have much work ahead but are grateful for all your help.“

Conclusion

This news highlights successful international collaboration between law enforcement agencies for recovery of lost funds due to criminal activities such as hacking or money laundering operations facilitated through cryptocurrencies like Bitcoin or Ethereum etc..

• Bitcoin (BTC) and Ethereum (ETH) prices continue to decline, with BTC trading near a three-week low and ETH nearing a one-month low.
• The global cryptocurrency market cap is currently trading 0.96% lower.
• Overall sentiment remains mostly bearish, with moving averages pointing downwards and the 14-day relative strength index (RSI) trending below 50.00

Bitcoin & Ethereum Technical Analysis

Bitcoin

Bitcoin (BTC) continued its downward descent on Saturday, as prices remained near a three-week low. Following a high of $21,919.33 on Friday, BTC/USD bottomed out at a low of $21,539.39 earlier in the day. This move sees the world’s largest cryptocurrency continue to trade near its lowest point since January 20.
The 14-day relative strength index (RSI) moved away from a recent floor at 42.00 As of writing, the index is currently tracking at 46.35, with the next visible resistance level at the 50.00 mark. However, momentum appears to be mostly bearish as the 10-day (red) moving average (MA) approaches a downwards cross with its 25-day (blue).

Ethereum

Etheruem (ETH) fell deeper into bearish territory on Saturday, nearing a one-month low in the process. ETH/USD dropped to an intraday low of $1,504.83 to start the weekend after failing to stay above an interim floor at $1,550 before rebounding slightly higher as of writing ($1,523).
The 10-day MA has lost all previous upwards momentum while the RSI continues to track below support point of 47.00 hovering instead at a six week low of 4543%. If it fails to climb beyond this zone then prices could move lower again for Ethereum in coming days and weeks ahead..

Overall Market Sentiment

Overall sentiment remains mostly bearish across both Bitcoin and Ethereum markets as well as other altcoins which have seen their market caps decrease by 096%. Moving averages are pointing downwards furthering this bearish trend while most indices such as RSI are trending below 50 00 making it more likely that cryptocurrencies will remain in their current downtrend for some time yet..

Impact Of Recent Shift In Momentum

The recent shift in market momentum has had an effect on both Bitcoin and Etheruem markets pushing prices lower while also pushing moving averages down further indicating that this current downtrend may persist for some time yet Technicals such as RSI appear unable to break through key levels meaning that there is not much hope for these cryptos recovering until they can break through these levels convincingly..

Conclusion

It appears that overall sentiment across cryptomarkets remains mostly bearish despite some movements upwards over recent days With technicals such as RSI failing to break through key levels it is unlikely that we will see any major recoveries soon What is clear however is that if these cryptos cannot break through those key levels soon then we could be looking at even lower values come end of 2021

• The U.S. non-farm payrolls (NFP) report on Friday showed that 517,000 jobs were added to the U.S. economy in January, better than the 185,000 many were expecting.
• Bitcoin moved lower to start the weekend, as traders continued to secure gains following a recent climb to a six-month high.
• Ethereum rose marginally higher on Saturday, remaining close to a resistance level of $1,700 in the process.

Overview

The U.S. non-farm payrolls (NFP) report on Friday showed that 517,000 jobs were added to the U.S. economy in January, better than the 185,000 many were expecting and this had an effect on both Bitcoin and Ethereum prices at the weekend.

Bitcoin Price Analysis

Following a high of $23,678.10 on Friday, BTC/USD fell to an intraday low of $23,279.96 earlier on Saturday’s session as traders moved to take recent profits resulting in Bitcoin falling for a third straight day since Thursday’s high of $24,262 which was BTC’s highest point since early-August last year.. This has also pushed bitcoin’s 14-day relative strength index (RSI) is now tracking at 68.41 which is marginally above a point of support at 68.00 which if broken could push prices below $23,000 in the process..

Ethereum Price Analysis

Ethereum (ETH) rose marginally higher on Saturday with ETH/USD hitting a high of $1,670.70 as it bounced away from Friday’s low at $1,634 .49 and following Thursday’s surge to $1 ,714 ,which was its strongest point since September .This has pushed ETH closer towards its resistance level of $1 ,700 with its RSI currently tracking at 64 .35 and should price strength recapture this ceiling then we could potentially see ethereum climb above this level over the weekend .

Conclusion

In conclusion it seems that both Bitcoin and Ethereum are continuing their respective climbs although their progress is being hampered by various resistance levels . However if these ceilings can be broken then we could potentially see further gains across both cryptocurrencies throughout 2021 .

• The stablecoin economy has shed $3 billion in the last 44 days, with USDC and BUSD losing the most value.
• Stablecoin swaps make up nearly 80% of the global crypto trade volume.
• The top five stablecoins by market capitalization are currently Tether, USDC, PAX, BUSD, and Gemini Dollar.

The stablecoin economy has seen a significant drop in value over the last 44 days, shedding more than $3 billion in value. According to statistics, the total market capitalization of the entire stablecoin economy on Jan. 28, 2023 stood at $138.07 billion, down from $141.07 billion on Dec. 15, 2022. In terms of global crypto trade volume, stablecoin swaps made up nearly 80%, with $46.33 billion in stablecoin trades on Jan. 28, 2023, compared to $44.55 billion on Dec. 15, 2022.

The three biggest losers in the stablecoin market were USD Coin (USDC), Binance USD (BUSD), and Gemini Dollar (GUSD). USDC’s market capitalization slipped 2.9% in the past month, while BUSD lost 7.2% in the same period. BUSD is a Paxos-managed dollar-pegged token affiliated with Binance, which has seen a significant number of redemptions over the last few months. At the time of writing, BUSD’s overall U.S. dollar value market cap stands at $15.8 billion.

The top five stablecoins by market capitalization are currently Tether (USDT), USD Coin (USDC), Paxos Standard (PAX), Binance USD (BUSD), and Gemini Dollar (GUSD). USDT is the world’s largest stablecoin by market capitalization, currently valued at $63.3 billion, followed by USDC at $25.4 billion, PAX at $15.9 billion, BUSD at $15.8 billion, and GUSD at $12.7 billion.

The recent $3 billion drop in the stablecoin economy highlights the need to closely monitor the market, as the value of these digital assets can be volatile. As the number of stablecoins continues to grow, it is important to understand the different features of each token in order to make the most informed decisions.

• Equity, precious metals, and cryptocurrencies have been on a tear during the last three weeks of 2023 and all eyes are now focused on the next Federal Open Market Committee (FOMC) meeting.
• Federal Reserve governor Christopher Waller has said he favors a quarter-point benchmark rate increase at the next FOMC meeting, and analysts believe current market trajectories will be dependent on this decision.
• On Saturday, Jan. 21, 2023, the global cryptocurrency market capitalization was up 5.87% over the previous day and hovering around $1.06 trillion in value, with Bitcoin (BTC) trading at $23,133 per coin. The day prior, on Friday, Jan. 20, equity markets closed the day in the green.

The past three weeks of 2023 have been a wild ride for global markets, with equities, precious metals, and cryptocurrencies alike experiencing a rally. All eyes are now focused on the upcoming Federal Open Market Committee (FOMC) meeting, which is 11 days away. Federal Reserve governor Christopher Waller has indicated that he is in favor of a quarter-point benchmark rate increase at the meeting, and analysts believe that current market trajectories will be heavily dependent on the outcome of this decision.

On Saturday, Jan. 21, 2023, the global cryptocurrency market capitalization was up 5.87% over the previous day, hovering around $1.06 trillion in value. The leading crypto asset, Bitcoin (BTC), had climbed 11.63% higher against the U.S. dollar in the past seven days, with Ethereum (ETH) rising 8.33% against the greenback. This increase in value of these two crypto assets has also increased the dollar value of the thousands of digital currencies below BTC and ETH. BTC traded at $23,133 per coin by 4:24 p.m. that day.

The day prior, on Friday, Jan. 20, equity markets closed the day in the green. The top four benchmark stocks (S&P 500, Dow Jones, Nasdaq, and Russell 2000) ended the day between 1% and 2.66% higher against the U.S. dollar. The Nasdaq Composite was the highest, rising 2.66%, the S&P 500 rose by 1.89%, the Russell 2000 index (RUT) jumped 1.69% higher, and the Dow increased by 1%.

With the FOMC meeting just 11 days away, investors are on edge as to what the outcome will be, and how it will affect the trajectory of global markets. Those invested in equities, cryptocurrencies, and precious metals alike are hoping for a positive outcome, though only time will tell.

• US Congress has created a new subcommittee on Digital Assets, Financial Technology and Inclusion
• The subcommittee will focus on providing a regulatory framework for digital assets, promoting financial technology to reach underserved communities, and identifying best practices to strengthen diversity and inclusion in the digital asset ecosystem
• Congressman French Hill will lead the subcommittee, with the support of Congressman Patrick McHenry

The United States Congress has taken a major step forward in its efforts to regulate and develop the digital asset industry. On Tuesday, the House Financial Services Committee announced the creation of its first-ever subcommittee on Digital Assets, Financial Technology, and Inclusion. The subcommittee, which will be chaired by Congressman French Hill (R-AR), is tasked with creating a regulatory framework for digital assets, promoting financial technology to reach underserved communities, and identifying best practices that will strengthen diversity and inclusion in the digital asset ecosystem.

Congressman Patrick McHenry (R-NC), the chairman of the House Financial Services Committee, expressed his enthusiasm for the new subcommittee, noting that Congressman Hill has the necessary experience and expertise to tackle this undertaking. „I’m proud to announce Congressman French Hill as the chairman of Congress‘ first ever Digital Assets Subcommittee and vice chair of the full Committee,“ said McHenry. „There is no one I trust more with one of my top priorities. I look forward to working with him to provide clear rules of the road for this ecosystem that protect consumers, while allowing innovation to thrive here in the U.S.“

The tasks of the new subcommittee will be various, ranging from establishing a regulatory framework for digital assets to promoting financial technology to reach underserved communities. The subcommittee will also strive to identify best practices and policies to strengthen diversity and inclusion in the digital asset ecosystem. Hill and McHenry hope that their efforts will make America a leader in innovation and protect consumers and investors.

The creation of the Digital Assets Subcommittee is a major step forward for the U.S. government in regulating the digital asset industry. It is the first of its kind in Congress, and with Hill and McHenry’s leadership and guidance, it has the potential to make a real difference in the lives of consumers and investors. Only time will tell if the subcommittee will be successful in its mission, but one thing is certain: the future of the digital asset industry is now firmly in the hands of the United States Congress.