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Stablecoin issuers, conglomerates targeted by IMF
A “rough year” for crypto markets has underlined the need for comprehensive and consistent regulation of the sector, the International Monetary Fund has said, suggesting stablecoin issuers and crypto conglomerates need to have bank-style capital requirements.
BTC breaks above $30,000
Bitcoin moved past the $30,000 level for the first time since June 10, 2022 as March’s banking turbulence faded further into the distance and investors grew more optimistic about U.S. central bank monetary policy.
Unlocking $31 billion worth of ether
Ethereum’s highly anticipated Shanghai upgrade, also called the Shanghai-Capella hard fork, is set to occur today, after which users will have access to the $31 billion worth of ether staked in the blockchain since December 2020.
BTC/USD exploded 1.8% in the last session.
The Bitcoin-Dollar pair exploded 1.8% in the last session. The MACD is giving a positive signal. Support is at 27600.6667 and resistance at 30730.6667.
The MACD is currently in the positive zone.
ETH/USD fell 0.9% in the last session.
Ethereum dropped 0.9% against the Dollar in the last session. According to the CCI, we are in an overbought market. Support is at 1822.2867 and resistance at 1960.5667.
The CCI points to an overbought market.
XRP/USD fell 0.3% in the last session.
The Ripple-Dollar pair fell 0.3% in the last session after gaining as much as 2.0% during the session. The Stochastic indicator is giving a positive signal. Support is at 0.4926 and resistance at 0.5323.
The Stochastic indicator is currently in the positive zone.
LTC/USD gained 0.7% in the last session.
The last session saw Litecoin gain 0.7% against the Dollar. The Ultimate Oscillator is giving a positive signal. Support is at 88.1767 and resistance at 97.1567.
The Ultimate Oscillator is currently in positive territory.
Daily Economic Calendar:
UK RICS Housing Price Balance
The RICS Housing Price Balance survey presents housing costs. It shows the strength of the housing market. The UK’s RICS Housing Price Balance will be released at 23:01 GMT, Finland’s Current Account at 05:00 GMT, and Germany’s 30-y Bond Auction at 09:30 GMT.
FI Current Account
The Current Account measures net flow of current transactions, including goods, services and interest payments into and out of the local economy.
DE 30-y Bond Auction
The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors’ outlook on future interest rates.
US Consumer Price Index
The Consumer Price Index is a measure of price movements made by comparing the retail prices of a representative shopping basket of goods and services. The US Consumer Price Index will be released at 12:30 GMT, the US Consumer Price Index Core at 12:30 GMT, Japan’s Foreign Investment in Japan Stocks at 23:50 GMT.
US Consumer Price Index Core
The Core Consumer Price Index (CPI) measures the changes in the prices of goods and services, excluding food and energy.
JP Foreign Investment in Japanese Stocks
Securities investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
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.
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