Crypto

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December, 2022
December 2022
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Bybit: BTC Spent Output Shows Bearish Signals; BarrelDAO Sells Out NFT-Linked Solana-Themed Beer
29/08/2022 17:01 0.1K

Bybit: BTC Spent Output Shows Bearish Signals; BarrelDAO Sells Out NFT-Linked Solana-Themed Beer

Chart of the Day 

Risk assets nosedived after Federal Reserve chair, Jerome Powell, reiterated the bureau’s hawkish stance on battling inflation. The prospect of high rates, which may continue for an extended period, has dampened market sentiments as spooked investors sold off top cryptocurrencies. Bybit blog reports.

Over the weekend, BTC struggled to cling to support above $20k, while ETH’s price weakened despite ongoing Merge narrative. As of the time of writing, the largest cryptocurrency by market cap is inching towards the $20k threshold after posting a marginal loss over the last 24 hours. On the upside, BTC is facing strong resistance in the $20k to $20.2k zone. Failure to close above this resistance zone will likely accelerate its downside correction to test support levels in the $18.5k to $19.5k region.

Meanwhile, a sharp spike is observed in BTC spent output for coins aged between seven to ten years, suggesting that these aged coins have been moved amid the recent price plunge. This spike in transaction bears similarities to the one on May 13, where a substantial amount of old coins were moved during a capitulation, followed by a month-long consolidation and further downside price actions. The 7-day EMA of spent output value also shows an uptrend among older coins, which typically coincides with a period of downward price discovery.

Similarly, ETH is trading below the $1,500 handle after shedding 2.7% of its market values in the same period. Most major altcoins saw mixed performances, with AVAX leading the correction on a 7% loss over a similar time frame. It is crucial to look out for the bearish follow-through after Friday’s speech. The broader crypto market will likely skid into September with lackluster token performances on the back of increasing liquidity pressure.

Back to (the) Futures 

Bybit: BTC Spent Output Shows Bearish Signals; BarrelDAO Sells Out NFT-Linked Solana-Themed Beer 1

The derivatives market saw stark changes in market sentiments and expectations. BTC perpetual contract funding rates across major exchanges have dived to the negative territory after Friday’s shock. This suggests that bearish sentiments have reached the lowest levels since July, when the market tried to unwind after a series of detrimental implosions. Long-term expectations sank: The basis for BTC futures expiring in June 2023 plunges below 0.25%, while the basis for ETH futures expiring in the same period is approaching -2%. In the options market, the weakening spot prices had little effect on the Realized Volatilty, indicating that options traders may have already priced in Jackson Hole’s impact.

Talk of the Town 

Bybit: BTC Spent Output Shows Bearish Signals; BarrelDAO Sells Out NFT-Linked Solana-Themed Beer 2

Brewery-focused BarrelDAO recently launched a collection of NFTs with a side of limited edition Solana-themed beer. The collection of 333 NFTs, released last Friday, has already sold out for 1.35 SOL each. As of the time of writing, several of these NFTs are listed on secondary markets with a floor price of 2.49 SOL. Each NFT purchase entitles the owner to redeem a 16-pack Solana Summer Shandy, with cans featuring NFT artworks from projects including DeGods, Degenerate Ape Academy, and many more.

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

Bybit

Ucom - high speed internet connection starting at AMD 6,500
AMD Rates
10:30 08/12 Buy Sell
AMD / USD 393.00 397.00
AMD / EUR 408.00 418.00
AMD / RUR 6.20 6.40
dollars
dollars
CBA Rates
08/12/2022
USD / AMD
395.15
-0.57%
EUR / AMD
415.38
-0.05%
RUR / AMD
6.32
+0.03%
GBP / AMD
481.02
-0.69%
Cryptocurrencies
10:30 08/12
BTC/AMD
6,653,379
-1.06%
BTC/USD
16813.35
-1.09%
ETH/USD
1228.68
-2.36%
BCH/USD
108.83
-2.72%
XRP/USD
0.387917
+0.04%
LTC/USD
75.00
-6.06%
BNB/USD
283.51
-1.74%
DOGE/USD
0.096006
-4.31%
ETH/BTC
0.07308374
-1.27%
BCH/BTC
0.00647346
-1.63%
XRP/BTC
0.000023074
+1.15%
LTC/BTC
0.004461003
-5.01%
BNB/BTC
0.016863497
-0.64%
DOGE/BTC
0.000005711
-3.24%
CBA Metals
08/12/2022
dram / gram
Gold
22641.72
+74.21%
Silver
284.39
-2.38%
FOREX
08:47 08/12
EUR/USD
1.0496
+0.32%
GBP/USD
1.2189
+0.46%
USD/JPY
137.03
-0.10%
EUR/GBP
0.8608
-0.15%
Oil
08:47 08/12
$ / barrel
Brent
77.90
-2.04%
Light Sweet
72.80
-2.02%
COMEX
08:47 08/12
$ / tr. oz
Gold
1795.90
+0.61%
Silver
22.82
+1.65%
Platinum
1014.10
+1.45%
LME / 3M
08:47 08/12
$ / tonne
Aluminium
2485.50
-0.92%
Copper
8456.50
+0.42%
Nickel
31441.00
+7.41%
Tin
24306.00
-2.05%
Lead
2212.00
-0.38%
Zinc
3183.00
+0.86%
Molybdenum
45679.73
+0.00%
Cobalt
51955.00
+0.00%
Indexes
08:47 08/12
point
Dow Jones
33597.92
+0.00%
S&P 500
3933.92
-0.19%
NASDAQ
10958.55
-0.51%
FTSE
7489.19
-0.43%
CAC 40
6660.59
-0.41%
DAX
14261.19
-0.57%
RTSI
1098.93
+0.17%
Nikkei
27574.43
-0.40%
Topix
1941.50
-0.35%
Hang Seng
19450.23
+3.38%
SSEC
3197.35
-0.07%
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