In Todays Headline TV CryptoDaily News:
Close to 190 banks could face Silicon Valley Bank’s fate.
On the heels of Silicon Valley Bank’s collapse, 186 more banks are at risk of failure even if only half of their depositors decide to withdraw their funds, because the Federal Reserve’s aggressive interest rate hikes to tamp down inflation have eroded the value of bank assets such as government bonds and mortgage-backed securities.
Huge crypto fraud losses.
According to the FTC’s latest report, consumers reported losing over $1 billion to crypto fraud from January 2021 through March 2022. Crypto investment scams, with the promise of high returns, have resulted in one out of every four dollars lost.
FTX firms had $6.8B hole in balance sheet at time of bankruptcy.
Sam Bankman Fried’s crypto empire had a $6.8 billion shortfall in its balance sheet when it filed for bankruptcy last November. That included a deficit of $10.6 billion in the main FTX.com enterprise, while sister trading firm Alameda Research had net assets of $2.6 billion, and FTX Ventures had net assets of $1.3 billion.
BTC/USD exploded 4.0% in the last session.
The Bitcoin-Dollar pair exploded 4.0% in the last session. The MACD is giving a positive signal, which matches our overall technical analysis. Support is at 26027.6667 and resistance at 28047.6667.
The MACD is currently in the positive zone.
ETH/USD skyrocketed 2.1% in the last session.
The Ethereum-Dollar pair skyrocketed 2.1% in the last session. According to the CCI, we are in an overbought market. Support is at 1698.7967 and resistance at 1863.7167.
The CCI points to an overbought market.
XRP/USD exploded 4.8% in the last session.
The Ripple-Dollar pair exploded 4.8% in the last session. The CCI indicates an overbought market. Support is at 0.3575 and resistance at 0.3977.
The CCI is signalling an overbought market.
LTC/USD skyrocketed 1.9% in the last session.
The Litecoin-Dollar pair skyrocketed 1.9% in the last session. The CCI is giving a positive signal. Support is at 78.8367 and resistance at 89.9367.
The CCI is currently in positive territory.
Daily Economic Calendar:
US 3-Month Bill Auction
Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. The US 3-Month Bill Auction will be released at 15:30 GMT, the US 6-Month Bill Auction at 15:30 GMT, Germany’s Producer Price Index at 07:00 GMT.
US 6-Month Bill Auction
The auction sets the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive.
DE Producer Price Index
The Producer Price Index measures the average changes in prices in primary markets by producers of commodities in all states of processing.
EMU Trade Balance
The Trade Balance is the total difference between exports and imports of goods and services. A positive value shows a trade surplus, while a negative value represents a trade deficit. The Eurozone’s Trade Balance will be released at 10:00 GMT, Germany’s German Buba Monthly Report at 11:00 GMT, the UK’s Rightmove House Price Index at 00:01 GMT.
DE Buba Monthly Report
The German Buba Monthly Report, released by the Deutsche Bundesbank, contains relevant articles, speeches, statistical tables, and provides detailed analysis of current and future economic conditions.
UK Rightmove House Price Index
The Rightmove House Price Index provides a sample of residential property prices in the UK. It shows the strength of the UK 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.
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