Markets take pause to digest latest data from global central banks. Australian Treasury releases Token Mapping Consultation paper. Digital asset majors stall higher but continue to consolidate above local support.
Markets attempt to stay one step ahead of the curve of Feb FOMC press conference. Nasdaq prints its strongest January in over two decades. Bitcoin lifts 39.95% in January, Ethereum adds 32.73%, and total crypto market cap closes above US$1.01 trillion.
Bitcoin and Ethereum consolidate at higher levels, above US$22,500 and US$1,500 respectively. Global central bank policy and earnings season drive action in major global markets. Macro volatility paints a mixed picture of strong price-appreciation against increased talks of recession in major economies.
Bitcoin, Ethereum, and XRP reach highs upwards of 30% from the start of 2023. Markets rise on signs of cooling inflation and decreased bond volatility. Dynamic macro drivers from the US, Japan, and China impact markets. Europe’s Markets in Crypto Assets (MiCA) scheduled for April 2023.
The global printing press came to a pause, causing growth to stagger and inflation to escalate in 2022. The S&P declined 18.1% and the Nasdaq fell 33.1%, marking 2022 as the 7th worst year for the S&P in the last 100 years. Apple and Amazon were the largest market cap losers, both shedding more than US$830 billion of market cap value.
This week in crypto includes BTC Markets crowned 2022 Blockies Winners, Markets Update, State of Crypto and Modernising Australia’s Financial System