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UK May Start Regulating Crypto Industry, Crypto Daily TV 2/2/2023

UK May Start Regulating Crypto Industry, Crypto Daily TV 2/2/2023

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In Todays Headline TV CryptoDaily News:

Bitcoin Hovers Around $23K Ahead of Fed Decision

All eyes are on the Federal Reserve, as chair Jerome Powell will announce the central bank's decision on interest rates this afternoon. CoinDesk Indices Managing Director Jodie Gunzberg joins the conversation. 

Bankrupt crypto firm Celsius says some users can withdraw assets.

Some users of bankrupt crypto lender Celsius Network’s Custody program will be able to withdraw 94% of their eligible assets, according to a court filing. The fate of the remaining 6% will be decided by the court at a later date.

Britain sets out plans to regulate crypto industry.

The U.K. formally laid out plans to regulate the cryptocurrency industry, with the government looking to rein in some of the reckless business practices that emerged over the past year and contributed to the demise of FTX.

BTC/USD exploded 2.5% in the last session.

The Bitcoin-Dollar pair skyrocketed 2.5% in the last session. The Stochastic-RSI's positive signal is in line with the overall technical analysis. Support is at 22494.3333 and resistance at 23606.3333.

The Stochastic-RSI is giving a positive signal.

ETH/USD exploded 3.6% in the last session.

The Ethereum-Dollar pair exploded 3.6% in the last session. The ROC's positive signal is in line with the overall technical analysis. Support is at 1543.1233 and resistance at 1623.0633.

The ROC is currently in the positive zone.

XRP/USD skyrocketed 2.0% in the last session.

The Ripple-Dollar pair exploded 2.0% in the last session. The Stochastic indicator is giving a negative signal, going against our overall technical analysis. Support is at 0.3788 and resistance at 0.4247.

The Stochastic indicator is giving a negative signal.

LTC/USD skyrocketed 5.3% in the last session.

The Litecoin-Dollar pair exploded 5.3% in the last session. The MACD is giving a positive signal. Support is at 89.0467 and resistance at 98.8067.

The MACD is currently in the positive zone.

Daily Economic Calendar:

DE 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. Germany's Trade Balance will be released at 07:00 GMT, the French 10-y Bond Auction at 09:50 GMT, Japan's 10-y Bond Auction at 03:35 GMT.

FR 10-y Bond Auction

The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors' outlook on future interest rates.

JP 10-y Bond Auction

The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors' outlook on future interest rates.

AU AiG Performance of Construction Index

The AiG Performance of Construction Index is an indicator that measures the short-to-medium-term conditions in the construction market.  Australia's AiG Performance of Construction Index will be released at 21:30 GMT, the US Unit Labor Costs at 13:30 GMT, and the UK's Monetary Policy Summary at 12:00 GMT.

US Unit Labor Costs

The Unit Labor Cost shows the total cost of employing a labor force. It can serve as an indicator of trends in production costs, share prices, and inflation.

UK Monetary Policy Summary

The Monetary Policy Summary contains the outcome of the vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced the vote.

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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