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FAMEEX Daily Highlights | Optimism Plans to Enhance L2 Scaling Network

2023-02-03 15:28:50

Top Trending Crypto News Today

Despite a $1.3B Paper Loss MicroStrategy Claims, It Has No Intentions to Cease Trading Bitcoin
MicroStrategy, a software analytics business, reported a paper loss on its 
Bitcoin holdings of over a billion dollars in 2022, but the company insists it has no intentions to cease trading the virtual currency.

Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March
Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in March. The upgrade, named “Bedrock,” aims to increase transfer speed, lower fees, and enhance compatibility with the Ethereum Virtual Machine (EVM). The Optimism Foundation stated in its proposal, “The Bedrock upgrade is a major step towards a multi-chain future.” (Source:

Daily Crypto Market Analysis - Growing and Forecast

Yesterday, 69.53M USDT longs and 61.23M USDT shorts were liquidated on the entire network. The net liquidation was 8.3M USDT shorts. Yesterday's total liquidation amount increased slightly, and the market activity saw a slight increment.

The Fear & Greed index rose slightly to 60, but the market sentiment remained stable, and was no longer pessimistic.

Bitcoin Ahr999 has slightly increased to 0.63, 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 the long-term trend is still a bear market.

In the last trading day, most of the three major US stock indexes rose. Only the DJI was the weakest, falling -0.11% against the trend, and the S&P 500 rose 1.47%. The Nasdaq was the strongest, continuing yesterday's momentum and rising 3.25%. The two major cryptocurrencies both fell yesterday, with BTC and ETH down -1.62% and -1.68% respectively.

In terms of data, the U.S. Department of Labor released the latest claims for unemployment benefits data on Thursday. The initial claims for state unemployment benefits reported 183,000 last week, a nine-month low and lower than market expectations. The number of continuing jobless claims also continued to decline, and the report showed that the labor market remained hot.

In terms of politics and economy, the Federal Reserve, the European Central Bank and the Bank of England raised interest rates in line with Wall Street expectations. After the Fed announced a 25 bps rate hike to a range of 4.5% to 4.75% on Wednesday, the ECB announced a 50 bps rate hike on Thursday, as expected, with another 50 bps rate hike expected in March. The Bank of England also announced a 50 bps rate hike, in line with market expectations.

As of Wednesday, nearly half of S&P companies had reported earnings, with up to 70% of them outperforming Wall Street expectations. Analysts at Refinitiv expect S&P earnings to fall 2.4%. Apple, Alphabet and Amazon will report their latest financial results after the market closes Thursday.

President of the U.S. Joe Biden and House Speaker McCarthy held preliminary discussions on the debt ceiling on Wednesday, and McCarthy expressed cautious optimism that they could come to a deal to avoid the first-ever default of the country’s debt.

Most of the mainstream cryptocurrencies fell yesterday, ranging from -3.99% and 0.94%, DOGE continued yesterday's weakness and fell -3.99%. BNB was the strongest, up 0.94%. The two major cryptocurrencies both fell, with BTC and ETH down -1.62% and -1.68% respectively.

Looking at BTC from the 4-hour candles, after breaking the 24000 mark yesterday, the long-side took a break today and went on a pullback trend. Dominated by the short side, the price was lowered to around MA25. Although the moving average is now showing a long position, but is necessary to observe whether the key support price of 22500 is stable.

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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