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On October 15, relevant data showed that the growth rate of M1 has rebounded significantly in recent months, and the M1-M2 gap has narrowed significantly since the beginning of this year, reflecting positive signals such as the increase in corporate production and operation activity and the recovery of personal investment and consumption demand.On October 15th, Michiel Tukker, senior European interest rate strategist at ING Bank, stated in a report that despite the recent decline in US Treasury yields, ING Bank still maintains its view that Eurozone yields should remain at current levels, or even rise slightly. He pointed out that German government bonds have outperformed interest rate swaps in the past few days, reflecting the markets demand for safe assets. "As one of the few safe-haven assets that still holds a AAA rating, German government bonds are expected to perform strongly if market risk sentiment deteriorates significantly." However, Tukker added that if US Treasury yields fall sharply, "it will undoubtedly force German government bonds and swap rates to test lower levels."Russias Defense Ministry said Russian forces attacked Ukrainian energy infrastructure facilities overnight.Russias Ministry of Defense said Russian troops have captured the Oleksiyivka settlement in Ukraines Dnipropetrovsk region.Central Bank: At the end of September, the balance of broad money (M2) was 335.38 trillion yuan, an increase of 8.4% year-on-year. The balance of narrow money (M1) was 113.15 trillion yuan, a year-on-year increase of 7.2%. The balance of currency in circulation (M0) was 13.58 trillion yuan, an increase of 11.5% year-on-year. Net cash injection in the first three quarters was 761.9 billion yuan.

Bitcoin Has Approved a Reversal to Growth but Needs Tactical Respite

Skylar Shaw

Jan 17, 2023 15:26

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In the last week, the price of bitcoin increased by over 23%, surpassing $21K. To $1570, Ethereum increased by 20%. Other top-ranked cryptocurrencies in the top 10 increased by 9% (BNB) to 50%. (Solana). Reentering the top 10, Solana has displaced Polygon.


It is clear that Bitcoin was outperforming at this time, which is simply explained by the stock market's upturn last week.


The first Bitcoin also reacted well to technical cues. On January 4, bitcoin secured a position above the 50-day average; since then, it has closed every day with gains. Growth accelerated as a result of a consolidation above the prior local high and a breach of the downtrend resistance. On Friday, BTCUSD closed above the 200-day average, adding to the weekend's upbeat trend.


Trading around the $21K mark returned quotations to the region prior to the FTX disaster, and this is a fresh challenge of the neighborhood highs. Since Bitcoin seems to be overheated locally, traders may want to be aware that the market will need to have a little pullback toward $19.5K before experiencing another surge.