Author: msmark

Share: The DXY Index trades bearishly at 103.7, marking a weak end to the week. US ISM Manufacturing PMI came disappointingly lower at 47.8, far off the anticipated 49.5. The expectations for the easing cycle to start in June remain intact. The US Dollar Index (DXY) initiates a new month of trading on Friday with a slightly lower open at the 103.7 level. This fall is primarily driven by a contraction in the US manufacturing sector in February. Despite an overall slump in the manufacturing sector’s performance, Federal Reserve (Fed) officials maintain poker faces and have refused to…

The demand for spot Bitcoin exchange-traded funds (ETFs) has surged since their recent approval on January 10, with BlackRock’s IBIT Bitcoin ETF leading the way. This ETF has reached impressive milestones in less than two months, attracting significant investor interest and opening doors for various market participants to invest in the largest cryptocurrency directly.  As institutional and retail investors flock to these new investment vehicles, market experts predict a bullish trend and anticipate a potential price surge. Bitcoin ETF Frenzy According to Bloomberg ETF expert Eric Balchunas, BlackRock’s IBIT Bitcoin ETF has quickly joined the esteemed “$10 billion club,” reaching…

Crypto industry losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, according to Immunefi’s latest crypto losses report.Meanwhile, the remaining 2.46% of the funds stolen were lost due to fraud.Despite the significant losses during the month, there was a notable decrease compared to January 2024, hinting at possible improvements in security measures or increased vigilance within the crypto community, the report said.February numbersCrypto gaming platform PlayDapp and decentralized exchange FixedFloat accounted for the majority of losses with$32.35 million and $26.1 million, respectively. Duelbits, an online casino with crypto features, lost $4.6…

A widely followed crypto analyst is diving deep into the altcoin markets, focusing on one popular subsector. Pseudonymous crypto trader Rekt Capital tells his 406,600 followers on the social media platform X that the altcoin markets are in a “Q1 hype cycle.” “ALTS A lot has changed since early February Not many were enthusiastic about an Altcoin Hype Cycle whereas now the sentiment is drastically different Welcome to the Q1 Altcoin Hype Cycle” Source: Rekt Capital/X Zooming in specifically on two popular altcoins in the blooming artificial intelligence (AI) sector, the analyst says the time for AI blockchain Fetch.ai (FET) is now. “It’s FET’s…

Japanese Yen (USD/JPY, EUR/JPY) Analysis Recommended by Richard Snow How to Trade EUR/USD USD/JPY Surrenders Prior Gains Ahead of the WeekendUSD/JPY is back above the 150.00 marker just one day after encouraging comments from BoJ board member Hajime called for a change in monetary policy now that the Bank’s 2% target is in sight.All parties (markets and the BoJ) now look ahead to crucial wage negotiations that are scheduled to wrap up around the 13th of March. Labour unions have been lobbying for sizeable wage increases and businesses have appeared largely receptive to the requests given inflation has breached the…

The final agreement between the Texas Blockchain Council & Riot Platforms, Inc., and the Energy Information Administration has just dropped, and it’s a good one.In sum, the EIA will voluntarily terminate the illegal EIA-862 collection action they initiated, and they will commit to destroying all the information that they have received and may still receive under the EIA-862. Furthermore, they will also cancel and withdraw the February 9th, 2024 notice for collection, replacing it with a new Notice.This new notice will run for a full 60 days from the date it is released in the Federal Register, and the EIA…

The crypto market has shown an incredible performance over the past week. Bitcoin has sustained momentum and risen above the $60,000 level, reaching $64,000. The levels reached at the end of February have suggested to many investors that March could be an even more impressive month for the current bullish rally. However, no prediction is set in stone, as many factors could swing investors’ sentiments and move the trends in the opposite direction. At the moment, the crypto market seems to have taken a small pause to catch its breath. Crypto Market Momentarily Slows Down The global crypto market reached…

2024.03.01 2024.03.01 USDJPY: Elliott wave analysis and forecast for 01.03.24 – 08.03.24Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/Main scenario: consider long positions from corrections above the level of 149.21 with a target of 152.50 – 155.00. Alternative scenario: breakout and consolidation below the level of 149.21 will allow the pair to continue declining to the levels of 145.90 – 143.29. Analysis: an ascending wave of larger degree C continues forming on the daily chart, with the fifth wave (5) of C unfolding as its part. On the H4 chart, there’s wave 1 of (5) formed and a downside correction completed as second wave 2 of (5). The…

Oliver Michel, founder and CEO of German-based venture capitalist firm Tokentus Investment AG, has given a bullish price prediction for the XRP price. According to him, XRP could hit $10 soon enough.  XRP Price To $10 Is Just The Beginning Michel mentioned during an interview with Der Aktionär, a leading German finance magazine, that he expects XRP to rise to between $5 and $10 in the first wave of its parabolic move to the upside. Interestingly, he added that XRP would eventually hit three to four figures and didn’t seem worried about XRP’s current price action.  Meanwhile, Michel revealed that…

A popular Solana (SOL)-based memecoin is soaring as retail trading giant Robinhood adds the digital asset to its European platform. Robinhood announced Friday that it was listing dogwifhat (WIF) for European Union (EU) customers to trade. Says Robinhood, “WIF is now live for trading on Robinhood Crypto in select EU jurisdictions!” The dog-theme memecoin has recorded a nearly 70% gain in two days, rising from a low of $0.573 on February 28th and trading for $0.972 at time of writing. Amid the Robinhood news, WIF soared to an all-time high of $1.05 on Friday before retracing slightly. Some crypto analysts…