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FAMEEX Daily Highlights | Kazakhstan Parliament Adopts Law Regulating Crypto Mining and Exchange

2023-01-30 17:48:35

Top Trending Crypto News Today

11 Days in a Row that Bitcoin Has Been Fear-Free as Its Price Approaches 24K
According to data from IntoTheBlock, 64% of Bitcoin investors are now profiting from the enormous price increase that occurred in January. The Crypto Fear and Greed Index recently recorded Bitcoin's (BTC) 11th straight day outside the "Fear" zone, making this the longest stretch of days without fear since March 2022.

Kazakhstan Parliament Adopts Law Regulating Crypto Mining and Exchange
Lawmakers in Nur-Sultan have approved the final version of the law “On Digital Assets in the Republic of Kazakhstan.” The new legislation, including several other bills, regulates the circulation of cryptocurrencies in the country and introduces a licensing regime for crypto miners and exchanges.

Daily Crypto Market Analysis - Growing and Forecast

In the last 24 hours, the long liquidations were 15.94M USDT and the short liquidations were 70.31M USDT, leaving 54.37M USDT worth of net short liquidations. The recent total liquidation amount has shown a slight downward trend, and market sentiment has cooled slightly.

The Fear & Greed index rose to 55, the market sentiment is no longer panic, and it has begun to turn optimistic.

Bitcoin Ahr999 rose sharply to 0.60, a new high since June last year, and is now above the bottom line (0.45) and below the DCA line (1.2). The numbers reflect that the current short-term trend is no longer so weak, but bear markets will last for a long time. Judging from the information above, the prices were still at the bottom zone.

In the last trading day, all three major US stock indexes rose. The DJI was the weakest, up only 0.08%, the S&P 500 rose 0.256%, while the Nasdaq was relatively strong, up 0.95%. The two major mainstream cryptocurrencies also rose yesterday, with BTC and ETH rising by 2.16% and 2.25% respectively.

The U.S. Department of Commerce announced on Thursday that GDP grew at an annualized rate of 2.9% in the fourth quarter, which was cooler than the third quarter, but exceeded the market's estimate of 2.8%, leading investors to expect that the U.S. economy may only fall into a mild recession. The market is now turning its focus to the Fed's policy meeting next week, where a 25 basis point rate hike is expected.

The fourth-quarter financial reports of US companies are in full swing. Tesla and IBM's financial reports are better than Wall Street's expectations, but the stock prices are different. Refinitiv data shows that more than a quarter of S&P 500 companies have reported earnings, 69% of which are better than market expectations. According to analysts' latest forecast, the S&P component's Q4 earnings contracted by 2.7%, an improvement of more than 3% from Wednesday's estimate, although the annual decline exceeded the 1.6% forecast at the beginning of the year.

In terms of politics and economy, House Republican leaders are considering proposing a short-term extension of the federal debt ceiling to delay the risk of a default until Sept. 30.

All mainstream currencies rose yesterday, ranging from 0.57% to 6.92%, LTC was the weakest, with a slight increase of 0.57%. And SOL is the strongest, up 6.92%. The two major currencies also rose, with BTC and ETH up 2.16% and 2.25% respectively.

Looking at BTC from the 4-hour candles, the price once again challenged the previous high of 23817 today, and the highest reached 23961, showing that the long side has strong ambitions.


Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FAMEEX's official view.

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