Crypto

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December, 2022
December 2022
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Bybit: BTC & ETH Reclaim Key Support, Meta Adds NFT Cross-Platform Posting
30/08/2022 15:34 0.1K

Bybit: BTC & ETH Reclaim Key Support, Meta Adds NFT Cross-Platform Posting

Chart of the Day 

The broader crypto market saw a slight rebound on Monday as BTC and ETH climbed back to above key support levels. The rebound offered some relief to investors who were bracing for a broad-based capitulation after BTC dipped to $19.5k over the weekend. As of the time of writing, BTC is trading above the $20k threshold after posting a 2.1% increase in the past 24 hours. On the upside, the largest cryptocurrency by market cap is facing immediate resistance near the $20.4k to $20.7k region, and the 100-hour simple moving average. Failure to clear this resistance zone will likely trigger a fresh decline to test previous support levels near the $19.5k to $19.8k zone. Bybit blog reports.

On-chain metrics show that long-term holders are locking in losses between 35% to 40% on average. Meanwhile, the magnitude of capital outflow over the last month reaches an alarming level, one that is only surpassed in scale by the massive capitulation event during the 2018 bear run. In the derivatives market, the futures OI leverage ratio for BTC soared to new highs, pointing to the existence of high leveraged positions in the market, while implying that further market squeezes are not a remote possibility. Price movements and macro signals in the next few days will likely determine whether the recent plunge is the precursor to a true bottom formation or a mere shakeout of excess leverage in the market.

ETH has staged a stronger comeback after a double-digit plummet over the weekend. The second-largest cryptocurrency by market cap is trading above the $1,500 mark after soaring by 9% in the same period. The Merge narrative seems to have a greater influence on short-term price actions. However, key data points in the derivatives market, such as perp funding rates, futures basis, and options IV, suggest that bearish sentiments prevail over a longer time frame. Most major altcoins have flipped green, with ATOM leading the pack on a double-digit percentage gain over the past day.

Talk of the Town 

Bybit: BTC & ETH Reclaim Key Support, Meta Adds NFT Cross-Platform Posting 1

Social media giant Meta announced on Monday that it will allow users to post their NFTs across Facebook and Instagram. The added functionality enables users to connect to a number of digital wallets including Rainbow, MetaMask, and Dapper Wallet to showcase their prized digital collectibles minted on Ethereum, Polygon, and Flow. Since the announcement of NFT integration in March this year, the rapid rollout of new functionalities demonstrated that the tech conglomerate has more ambitious plans for its NFT options. Apart from cross-platform display, Meta is also working on custom animations for NFT posts to deliver its promise of enabling Spark AR-compatible NFT displays through Instagram stories.

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 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