Bitcoin continues to rise and recovers to the $18,000 level, Avalanche (AVAX) rises 26% from the previous day

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Macroeconomics and financial markets

In the US NY stock market on the 11th, the Dow closed at $268 (0.8%) higher than the previous day.

The CPI (U.S. Consumer Price Index), which influences monetary policy, will be announced today at 22:30. is.

If the CPI figure falls below market expectations, it may spur a risk-on mood, but if it exceeds market expectations, risk assets such as stocks and Bitcoin (BTC) may fall sharply.

Boston Federal Reserve Bank President Collins announced on the 12th that he is leaning towards a 0.25 percentage point rate hike at the next Federal Open Market Committee (FOMC) meeting, although he said it would depend on economic data.

The CPI core index excluding food and energy is expected to rise by 5.7% year-on-year, and the content of the announcement at 22:30 today will attract attention.

Relation:Financial market tankan on the morning of the 12th | NY Dow and AI-related stocks continue to rise

Virtual currency market

In the crypto asset (virtual currency) market, Bitcoin rose 4.7% from the previous day to $18,213.

BTC/USD daily

The US stock index continued to rise and recovered to the $18,000 level. More than 10% higher since the beginning of the year.

The top price has been extended to around $18,400 where the resistance line (upper resistance line) such as the cloud top of the Ichimoku Kinko Hyo and the trend line overlap.

On the other hand, there is strong skepticism as the stock may fall back depending on the CPI results.

Bearish Capo has not broken his pessimistic scenario and expects 1BTC to fall to the $12,000 level.

The aftermath of the FTX bankruptcy is still smoldering, such as the risk of bankruptcy of Genesis, which has approximately $2 billion in debt on the cryptocurrency exchange Gemini, spilling over to its parent company, Digital Currency Group (DCG), and the outlook for the future is cautious. not a few.

Relation:Genesis, DCG pay over $1 billion to Gemini: reports

DCG is also the parent company of Grayscale, which manages the bitcoin investment trust Bitcoin Trust (GBTC), and it has been pointed out that in the event of insolvency, GBTC-related assets held by Genesis and DCG may be liquidated.

altcoin market

Altcoins, which had been oversold, have also moved steadily since the beginning of the year. Compared to the previous day, Ethereum (ETH) increased by 5.1% and XRP increased by 8.5%.

Avalanche (AVAX), ranked 18th in market capitalization, soared 26.4% from the previous day due to the partnership between Ava Labs and Amazon Web Services (AWS).

It is positioned as a strategic partnership to accelerate blockchain adoption by businesses, institutions and governments through the global AWS marketplace.

detail:Support for Amazon AWS and Avalanche (AVAX)

Ava Labs will join the Amazon Partner Network (APN), a global community of over 10,000 partners in 150 countries, to support Avalanche’s infrastructure and decentralized application (dApps) ecosystem.

In the future, we will also promote events for entrepreneurs and developers such as Avalanche Summit and Avalanche Creates.

Relation:What is Avalanche that even beginners can understand | Explaining points to note and future potential

GM radio archive release

Special guests this time are Yat Siu, chairman of Animoka Brands, a leading Web3 (decentralized web) company, and Benjamine Charbit of Darewise Entertainment. He talks about the current challenges of Web3 games and NFTs, Darewise’s first title “Life Beyond”, and the outlook for the industry.

Relation: To hold the 2nd “GM Radio”, guests are the chairman of Web3 major Animoka Brands

Click here for a list of market reports published in the past

The post Bitcoin continues to rise and recovers to the $18,000 level, Avalanche (AVAX) rises 26% from the previous day appeared first on Our Bitcoin News.

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