Markets Outlook

With bitcoin bouncing and ether hitting a new all-time high, CoinDesk’s Market’s Daily is back with the latest news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories:First Mover: Bitcoin Flushes 'Weak Hands' as Ethereum Hits New All-Time High Last week's rout in bitcoin market looks like "weak hands" selling out because bidders appeared to materialize whenever prices fell to $30K.U.S. President Biden is unlikely to raise taxes anywhere close to covering his spending proposals, (NYT)China overtook the U.S. as world's leading destination for foreign direct investment, from the (WSJ)Investor demand for the lowest-rated junk bonds pushed yields to record lows; That’s below where 10-year U.S. Treasury-bond yields traded for most of the 1970s, '80s and '90s (WSJ)A third of staff may work from home permanently post-virus, says (Bloomberg)A key executive at Huobi crypto exchange is said to have been taken into custody by Chinese police investigating the over-the-counter trading service (CoinDesk) Valkyrie digital assets filed an application with the SEC for a bitcoin ETF, joining VanEck in the struggle to win U.S. regulatory approval, (CoinDesk)Wladimir (Vladimir) van der Laan, lead maintainer of Bitcoin Core, the key software underpinning the Bitcoin network, is seeking to move further into the "background" for the sake of decentralizing the project. This move comes following criticism of his decision to pull the Bitcoin white paper from bitcoincore.org after the project received a takedown notice from the controversial leader of BitcoinSV (CoinDesk) Crypto exchange Coinbase now has more than $90B of assets on their platform and more than 43M registered users, (CoinDesk)New Innovation Hub from Bank of International Settlements (the central bank for central banks) is planning a platform for testing central bank digital currencies (CoinDesk)Early exchange Coinbase plans to offer a secondary market for private shares ahead of public stock listing, as pre-IPO contracts change hands at valuations of more than $70B, that one’s from (The Block)CNBC stock-picking personality Jim Cramer suggested to the winner of the $731M Powerball jackpot that they should put 5% of their newfound fortune in bitcoin, from CoinDesk’s Danny Nelson (CoinDesk)Microstrategy's recent sale of $650M of convertible bonds offer QUOTE "very little downside and an almost-free call option on bitcoin," writes investing legend Bill Miller of Miller Value Partners (Miller Value Partners)  In an opinion piece, Bloomberg’s senior ETF analyst argues that the SEC is long "past due" in approving a bitcoin ETF (Bloomberg Opinion) Crypto Twitter trader and analyst @CryptoCapo_ says the drop in open interest in coin-margined bitcoin-derivatives contracts signals market bottom is in, that’s from the (Daily Hodl)  Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With bitcoin back above $30K and analysts calling for a deeper correction, CoinDesk’s Market’s Daily is back with the latest news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories: First Mover: Bitcoin Newbies Get Volatility Lesson as Old Pros Lament FUD A mixture of bearish price-chart patterns and ill-understood news items combined to cause bitcoin's biggest price plunge since March, in a demonstration to market newcomers of the cryptocurrency's notorious volatility.Bitcoin worries ‘fading’ as crypto goes mainstream, S&P says (CoinDesk) Guggenheim Chief Investment Officer Scott Minerd, who predicted bitcoin prices would eventually go to $400K, told CNBC Tuesday that he sees a possible retracement to $20K in the near term (CoinDesk) Treasury Secretary nominee Janet Yellen offers U.S. Senate a more nuanced take (in writing) on cryptocurrencies (CoinDesk)Georgetown law Professor Chris Brummer (who runs an annual conference on financial technology) tipped as potential candidate to replace Heath Tarbert as chair of the Commodity Futures Trading Commission, which oversees on-exchange cryptocurrency derivatives in the U.S. (CoinDesk)   European Central Bank President Christine Lagarde says pandemic still “poses serious risks” and that “in this environment ample monetary stimulus remains essential” (CNBC) JPMorgan board holds CEO Jamie Dimon’s annual pay at $31.5M (Reuters)Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With bitcoin dropping as traders turn bearish, CoinDesk’s Market’s Daily is back with the latest news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories:First Mover: As Bitcoin Flips Bearish, Neither Biden Nor BlackRock Brightens MoodThere's a lot of long-term bulls in the bitcoin market. But in the short-term?  What's hotProposed FinCEN crypto wallet rulemaking among those affected by U.S. President Joe Biden’s first-day order to freeze all rulemaking. (CoinDesk) BlackRock gives two funds go-ahead to invest in bitcoin futures (CoinDesk) Individuals starting to feel the bitcoin FOMO; “You never know until you play with it and figure it out” (Bloomberg)Former U.S. Treasury official (and Ripple board member) Michael Barr will replace Brian Brooks as head of OCC. (CoinDesk)Bond market signals suggest investors increasingly expect higher inflation with no commensurate response from the Federal Reserve to increase interest rates. (WSJ) Some McDonald’s restaurant owners attribute recent sales bump to recent distribution of stimulus checks. (WSJ)  China’s three largest telecommunications operators ask New York Stock Exchange to reverse recent decision to delist them. (Nikkei Asia Review)Alibaba shares rise 10% higher after popular billionaire and CEO Jack Ma resurfaces in video. (Asia Times Financial)“This bubble will burst in due time, no matter how hard the Fed tries to support it,” asset-allocation guru Jeremy Grantham of GMO writes in web post. (GMO) “Decades of constant stimulus have left capitalism weaker, less dynamic and less fair, fueling populism,” Morgan Stanley Investment Management Chief Global Strategist Ruchir Sharma writes in op-ed. (FT) Token watchEther (ETH): Price rise to record high could just be first stop on way to $10.5K, Fundstrat analyst predicts. (CoinDesk)XRP (XRP), Dogecoin (DOGE), Binance coin (BNB), USD coin (USDC): Pornhub, an adult entertainment website, now accepts payments in 16 cryptocurrencies. (CoinDesk) OKExChain (OKT): Native token for crypto exchange’s trading-focused blockchain hits $64 upon listing, implying $640M market value. (OKEx) Yearn.finance (YFI): DeFi yield-farming site considers minting $200M of new YFI tokens. (CoinDesk) Tron (TRX), Tether (USDT): Tether use on Tron passes Ethereum as low fees attract small transactions. (CoinDesk) Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With the price of BTC down and a new report out on the decrease in criminal crypto activity, CoinDesk’s Market’s Daily is back with the latest news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories: Bitcoin Falls 5% Despite Continued Accumulation by Investors Bitcoin fell from $36,000 to $34,000 Wednesday morning, despite continued buying from investors.Over Half of Investors Think Bitcoin, Tesla Stock Are Biggest Bubbles: Deutsche Bank SurveyWhile many respondents saw bitcoin as a major bubble, 25% believed it could double its price tag to north of $70,000 by the start of 2022.Criminal Activity in Crypto Transactions Fell Sharply in 2020, Says ChainalysisPartly offsetting the positive trend is an explosion in ransomware attacks, which rose 311% from 2019. Yellen Calls Terrorist Financing Using Crypto a 'Concern' The U.S. should examine how it can curtail the use of crypto for illicit financing, the former Fed Chair said.Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With more traders betting on bitcoin than tech stocks and ether briefly reaching an all-time high, CoinDesk’s Market’s Daily is back with the latest news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories: Bitcoin Becomes Most-Crowded Trade After Passing 'Long Tech': Bank of America Survey Bank of America's January survey of fund managers indicated bitcoin is now seeing the most capital inflow.Bitcoin's Price Must Pass $40K to Halt Exodus of Traders: JPMorgan Analysts A bearish outlook may be triggered if bitcoin doesn't claw its way back over $40,000, the analysts said.Ethereum's Ether Cryptocurrency Sets New Price Record on Major ExchangesEther (ETH) has broken its previous all-time high set on top exchanges in January 2018 with a rise to $1,439.UK's NHS Taps Blockchain Tech to Monitor Coronavirus Vaccine Cold Chain  Hedera Hashgraph's blockchain platform will provide the health service with a tamper-proof record of vaccine temperatures, the firm said.Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With bitcoin hovering around $36K and Iran's government blaming crypto miners for recent blackouts, CoinDesk’s Market’s Daily is back with the latest news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories: Bitcoin Struggles to Recover After Biggest Weekly Price Loss Since September Prices fell by 6% in the seven days to Jan. 17, a weekly fall not seen since the first week of September. Central Bank Digital Currencies Not a 'Fad,' MetLife Investment Says The investment giant predicts CBDCs will continue gaining steam, although a "launch among Western countries seems unlikely to occur anytime soon."Crypto Long & Short: No, Bitcoin Is Not in a Bubble Commentators and analysts who say bitcoin is in a “bubble” show they don’t understand what the term means.Iran Reportedly Seizes 45K Bitcoin Mining Machines After Closure of Illegal Operations The mostly ASIC devices used to mine bitcoin are said to have been consuming 95 megawatts per hour of electricity at a reduced rate.Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With the price of BTC bouncing off $40K and the Fed in no rush to issue its own token, CoinDesk’s Market’s Daily is back with the latest crypto news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories:Biden's $1.9T Relief Package Proposal Fails to Stir Bitcoin Market The U.S. dollar's rise on the news maybe be playing spoilsport to the bitcoin bulls.Jerome Powell on CBDCs: 'We Don't Feel a Need to Be First' He estimated it will take “years rather than months” before the Fed releases a CBDC.FinCEN Extends Comment Period for Crypto Wallet Rule Critics of the rule said it would be technically impossible for some projects to comply because smart contracts and author-decentralized tools do not have name or address information to provide.Tether's Bank Says It Invests Customer Funds in Bitcoin Deltec Bank & Trust announced it had invested customer funds in bitcoin since the cryptocurrency's price was around $9,300.Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With bitcoin bouncing back up and approval of the first federally chartered crypto bank, CoinDesk’s Market’s Daily is back with the latest crypto news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories:Bitcoin Bounces as Options Market Sees 20% Chance of $50K at Month's End While a 31% rally to $50,000 in two weeks may be challenging to envision, it is far from impossible, given bitcoin's prior rallies.UK Man Offers Council $72M If He's Allowed to Search Dump and Finds Discarded Bitcoin TroveAnchorage Becomes First OCC-Approved National Crypto Bank The crypto industry has its first federally chartered bank: Anchorage.Ex-Ripple CTO Can't Remember Password to Access $240M in BitcoinJust call it Schrödinger's bitcoin.Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

With BTC looking at gloomy short-term price predictions and altcoins on the rise, CoinDesk’s Market’s Daily is back with the latest crypto news roundup.Add Markets Daily to your Alexa Flash Briefing here.This episode is sponsored by Nexo.io.Today's stories: Analysts Are Gloomy About Bitcoin's Short-Term Price Outlook Right Now Some are now forecasting an extension of Monday's 20% price drop as more bitcoin moves onto exchanges and institutional demand cools.Goldman Sachs Exec Says More Institutional Investment Would Calm Bitcoin Volatility Global head of commodities research Jeff Currie believes the amount of institutional money in bitcoin needs to grow to mature the asset.Multiple Tokens See Rally Amid Looming 'Alt Season' Bitcoin and ether may be pulling back from their all-time highs but alternative cryptos are starting to see action. ECB's Christine Lagarde Says 'Speculative' Bitcoin Needs Regulation In a speech at a Reuters online event Wednesday, Lagarde said bitcoin was a "highly speculative" asset.Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.

Bitcoin Bull Run: OGs on Why This One's DifferentTrump, COVID-19, massive money printing. Voorhees, Shrem, Wan, Carlson and others on bitcoin's big boom, and what's changed from 2017.This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.