Crypto

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December, 2022
December 2022
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Bybit: BTC MVRV Dips Below 1, SEC Delays Decision on Spot ETF
26/08/2022 17:06 0.1K

Bybit: BTC MVRV Dips Below 1, SEC Delays Decision on Spot ETF

Chart of the Day

The equity markets rebounded on the news that U.S. and China are close to resolving the impasse over audit inspections. However, the bullish sentiment did not ripple to the crypto market, which continued its sideways movement on Thursday. As of the time of writing, BTC is trading slightly below the $21.5k level after posting a marginal loss in the last 24 hours. The largest crypto by market cap is struggling to gain pace above the $21.7 to $22k resistance zone, and will likely retrace to the $21k level if it fails to clear the resistance. BTC’s MVRV value faltered and dipped in the undervalued territory (below 1) after the recent price appreciation.

In a similar vein, ETH saw a more pronounced downside correction as it shed 1.7% of its market value in the same period. The second largest cryptocurrency by market cap is still changing hands in the upper region of the $1,600 mark. The basis of the forward-month futures declined significantly despite minor price changes. The gamma exposure suggests that market volatility will likely increase at existing price levels. Most major altcoins have flipped red, with the exception of SHIB and ADA, as both saw more than 1% increase over a similar time frame.

Talk of the Town

Bybit: BTC MVRV Dips Below 1, SEC Delays Decision on Spot ETF 1

The U.S. Securities and Exchange Commission (SEC) delayed VanEck’s most recent bid to create a spot BTC ETF. The deadline of a final deliberation has been pushed to Oct. 11, when the SEC would “either approve or disapprove, or institute proceedings to determine whether to disapprove the proposed rule change.” VanEck’s previous attempt at applying for a spot ETF was denied last November after months of deliberation. Meanwhile, applications from other firms to create the first U.S-based BTC ETF, including that from Grayscale, have all been denied by the SEC, citing investor protection and market manipulation concerns.

Crypto & blockchain articles are created with the support of ByBit – leading crypto platform.

Bybit

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AMD Rates
10:30 09/12 Buy Sell
AMD / USD 393.00 397.00
AMD / EUR 410.00 420.00
AMD / RUR 6.22 6.45
dollars
dollars
CBA Rates
09/12/2022
USD / AMD
395.30
+0.15%
EUR / AMD
417.56
+2.18%
RUR / AMD
6.33
+0.01%
GBP / AMD
484.72
+3.70%
Cryptocurrencies
10:30 09/12
BTC/AMD
6,802,389
+2.24%
BTC/USD
17214.70
+2.39%
ETH/USD
1280.56
+4.22%
BCH/USD
111.83
+2.76%
XRP/USD
0.392060
+1.07%
LTC/USD
77.93
+3.91%
BNB/USD
290.13
+2.34%
DOGE/USD
0.098260
+2.35%
ETH/BTC
0.07438085
+1.77%
BCH/BTC
0.006495674
+0.34%
XRP/BTC
0.000022773
-1.30%
LTC/BTC
0.00452665
+1.47%
BNB/BTC
0.016851986
-0.07%
DOGE/BTC
0.000005707
-0.07%
CBA Metals
09/12/2022
dram / gram
Gold
22751.35
+109.63%
Silver
288.44
+4.05%
FOREX
10:00 09/12
EUR/USD
1.058
+0.80%
GBP/USD
1.2271
+0.67%
USD/JPY
135.91
-0.82%
EUR/GBP
0.8618
+0.12%
Oil
10:00 09/12
$ / barrel
Brent
76.76
-1.46%
Light Sweet
72.06
-1.02%
COMEX
10:00 09/12
$ / tr. oz
Gold
1813.50
+0.98%
Silver
23.33
+2.23%
Platinum
1013.40
-0.07%
LME / 3M
10:00 09/12
$ / tonne
Aluminium
2503.00
+0.70%
Copper
8543.00
+1.02%
Nickel
29725.00
-5.46%
Tin
24625.00
+1.31%
Lead
2212.00
+0.00%
Zinc
3236.50
+1.68%
Molybdenum
50066.92
+9.60%
Cobalt
51955.00
+0.00%
Indexes
10:00 09/12
point
Dow Jones
33781.48
+0.55%
S&P 500
3963.51
+0.75%
NASDAQ
11082.00
+1.13%
FTSE
7472.17
-0.23%
CAC 40
6647.31
-0.20%
DAX
14264.56
+0.02%
RTSI
1096.63
-0.21%
Nikkei
27901.01
+1.18%
Topix
1961.56
+1.03%
Hang Seng
19900.87
+2.32%
SSEC
3206.95
+0.30%
CBA Interest Rates
26/03/2020
Refinancing
Refinancing Rate
9.25
+0.00%
Lombard Repo
Lombard Repo Rate
10.75
+0.00%
Deposit
Deposit Rate
7.75
+0.00%
Macroeconomy
10/2022
CEA
Coefficient of Economic Activity
+8.90%
Ind. Prod. 3
Volume of Industrial Production
2,128.5
+9.9%
Export 1
Export
4,129.4
+71.2%
Import 1
Import
6,755.8
+63.5%
CPI
Consumer price index
+8.70
Avg. Salary 2
Average salary
226,621
+14.0%
Services 3
Volume of services
2,074.3
+27.90%
Construction 3
Volume of construction
360,764
+14.4%
1 - mln AMD, 2 - AMD, 3 - bln AMD