Bitcoin price struggles to hold above $30K amid regulatory uncertainty
Bitcoin price reclaimed the $30,000 support after briefly testing $29,130 on the previous day. However, traders question whether the recovery is sustainable given the increased regulatory scrutiny, especially in the United States.
Bybit opens global headquarters in Dubai
Crypto exchange Bybit has opened its global headquarters in Dubai. The launch comes nearly a year after it had revealed plans to establish itself in the emirate based on an in-principle approval to move its global headquarters to the city.
Bitcoin and liquid staking protocols lead crypto resurgence
The cryptocurrency ecosystem has enjoyed a buoyant start to the year as Bitcoin and decentralized finance protocols surge in market capitalization through the first quarter of 2023. BTC emerged as the best-performing asset of Q1 2023, with gains of 72.4%.
BTC/USD skyrocketed 3.1% in the last session.The Bitcoin-Dollar pair exploded by 3.1% in the last session. The Stochastic-RSI is giving a negative signal. Support is at 28654.6667 and resistance at 30678.6667.
The Stochastic-RSI is currently in the negative zone.
ETH/USD rose 0.8% in the last session.The Ethereum-Dollar pair gained 0.8% in the last session after rising as much as 2.2% during the session. The Stochastic-RSI is giving a negative signal. Support is at 2028.3167 and resistance at 2142.4167.
The Stochastic-RSI is giving a negative signal.
XRP/USD skyrocketed 2.4% in the last session.The Ripple-Dollar pair exploded 2.4% in the last session. The ROC is giving a positive signal, which matches our overall technical analysis. Support is at 0.4984 and resistance at 0.5271.
The ROC is currently in positive territory.
LTC/USD exploded 2.2% in the last session.The Litecoin-Dollar pair skyrocketed 2.2% in the last session. The MACD is giving a positive signal, which matches our overall technical analysis. Support is at 96.1033 and resistance at 101.6433.
The MACD is giving a positive signal.
Daily Economic Calendar:US Fed's Beige Book
The Beige Book reports on the current economic situation using interviews with key business contacts, economists, market experts, and other sources. The US Fed's Beige Book will be released at 18:00 GMT, Germany's 10-y Bond Auction at 09:30 GMT, the UK's Consumer Price Index at 06:00 GMT.
DE 10-y Bond Auction
The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors' outlook on future interest rates.
UK Consumer Price Index
The Consumer Price Index is a measure of price movements made by comparing the retail prices of a representative shopping basket of goods and services.
JP Exports
The Exports measure of the total exports of goods and services by the local economy. Steady demand for exports helps to support growth in the trade surplus. Japan's Exports will be released at 23:50 GMT, the UK's Core Consumer Price Index at 06:00 GMT, and the US MBA Mortgage Applications at 11:00 GMT.
UK Core Consumer Price Index
The Core Consumer Price Index (CPI) measures the changes in the prices of goods and services, excluding food and energy.
US MBA Mortgage Applications
The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
