Financial market tankan on the morning of the 12th | Cryptocurrency-related stocks continue to rise, US CPI announced tomorrow night

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January 11 (Wednesday) morning market trends (compared to the previous day)

traditional finance

    • NY Dow: $33,625 +0.3%
    • Nasdaq: $10,703 +0.6%
    • Nikkei Stock Average: ¥26,175 +0.7%
    • USD/JPY: 132.2
    • US dollar index: 103.2 +0.2%
    • 10-year US Treasury yield: 3.6% annual yield +2.7%
    • Gold Futures: $1,881 +0.2%

crypto assets

    • Bitcoin: $17,461 +1.3%
    • Ethereum: $1,339 +1.3%
    • FLR: $0.04 -72%

AI related token

  • AGIX: $0.084 +31%
  • FETs: $0.19 +30%
  • ORAI: $3.3 +20%

Today’s New York Dow rebounded, and the Nasdaq continued to rise. With the announcement of the US CPI (consumer price index) tomorrow night (22:30) ahead, the overall cautious stance is strong.

Fed Chairman Jerome Powell made no direct mention of the economic or policy outlook in his speech, which appears to have put an end to fears that he might be making hawkish remarks. At a European forum on the 10th, the chairman commented mainly on the role of central banks in climate issues, and on the economy, he said, “We are raising policy rates to slow the economy. , it may be necessary to take unpopular measures in the short term,” he said.

In addition, current CPI forecasts are strongly anticipating a slowdown in inflation.

  • CPI (vs. previous month): previous +0.1% forecast -0.2%
  • CPI (year-on-year): previous +7.1% forecast +6.5%

Relation: What is the CPI (Consumer Price Index) that attracts attention in the virtual currency market?

US stocks

US stocks have performed mixedly. Individual stocks: C3.ai (AI related) +1.3%, DocuSign (machine learning related) +2.7%, Amazon +2.2%, Microsoft +0.47%, Apple -0.05%, Tesla -2%, Meta +2.8% , Coinbase +9.4%, Micro Strategy +8%. In particular, the continued growth of cryptocurrency-related stocks was conspicuous.

Regarding the cryptocurrency exchange Coinbase, it was well received that it announced that it would cut about 20% of its employees, or about 950 people, before the start of trading yesterday, and it continued to grow significantly. The company’s chief executive, Armstrong, said in announcing the job cuts that the company had taken necessary steps to weather an industry-wide downturn. Coinbase had already laid off more than 1,200 people last year.

As for MicroStrategy, which holds the most bitcoin as a publicly traded company, it has been revealed that it has sold 13.5% (1,261,744 shares) of its common stock to trading firm Group One. Group One is said to have become a major shareholder along with Vanguard and BlackRock through this stock acquisition. After falling more than 70% in the wake of the 2022 bear market, MicroStrategy shares are up about 30% so far this year.

Source: Tradingview

Relation: US Micro Strategy sells part of Bitcoin for the first time due to tax measures

Relation: Commentary on the relationship between government bonds and interest rates, and the impact on the cryptocurrency market

USD/JPY: 132.2

Virtual currency market

The virtual currency market also continued to grow. AI-related stocks in particular perform well.

In the area of ​​AI, the company seems to have been speculatively bought on the heels of yesterday’s report that Microsoft, a major IT company, is negotiating with OpenAI, which developed the AI ​​language model “ChatGPT,” for an additional investment of $10 billion. In addition to Ethereum’s ZK rollup and liquid staking platforms, many experts are also focusing on blockchain’s AI-related areas for this year’s trends. On the other hand, speculative elements are higher than price movements due to specific materials, and volatility is likely to increase.

  • AGIX: $0.084 +31%
  • FETs: $0.19 +30%
  • ORAI: $3.3 +20%

Relation: Microsoft invests 1.3 trillion yen in OpenAI developed by “ChatGPT”

Cryptocurrency/Blockchain-related Stocks (Year-on-Year Change/Year-to-Week Change)

  • Coinbase|$43.2 (+13%/+30%)
  • MicroStrategy | $190 (+8.5%/+18%)
  • Robinhood Markets | $8.7 (+2%/+5.7%)

Relation: Stock investment recommended for virtual currency investors, representative virtual currency stocks of Japan and the United States “10 selections”

GM Radio 2nd Archive

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

The post Financial market tankan on the morning of the 12th | Cryptocurrency-related stocks continue to rise, US CPI announced tomorrow night appeared first on Our Bitcoin News.

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