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White House: Trump signed a memorandum authorizing U.S. law enforcement agencies to use cyber tools to combat criminal organizations operating in foreign jurisdictions.Conflict Situation: 1. Iranian Revolutionary Guard Spokesperson: If Iran faces renewed threats, hundreds of thousands of miles of energy transmission lines, thousands of power plants, all US and non-US facilities, and even global infrastructure connected to the internet will be at risk. 2. Iranian Revolutionary Guard Commander Naqdi: Given favorable conditions and orders, we must be able to advance operations into enemy territory. We produce more missiles than we launch every day. Even if this war lasts for years, Irans missiles will continue to be launched until the very last day. 3. Port Authority of Mocha, Yemen: The port is completely shut down due to Houthi attacks. 4. US Central Command: As of August 12th local time, the US military has forced 59 merchant ships to divert, rendered 3 ships immobile, and boarded and inspected 2 ships. Strait of Hormuz: 1. Trump: The US has complete control over the Strait of Hormuz. 2. The Persian Gulf oil spill crisis has resurfaced, and tanker attacks have exacerbated environmental risks in the Strait of Hormuz. 3. The Japanese Prime Minister and the Iranian President discussed easing tensions in the Middle East and the passage through the Strait of Hormuz. 4. Irans Persian Gulf Straits Authority: The Strait of Hormuz remains closed and will not reopen unless Irans conditions are accepted. 5. Iranian Foreign Ministry Spokesperson Baghae: As the country with the longest coastline in the Persian Gulf and the Gulf of Oman, Iran demands that all parties benefiting from shipping through the Strait of Hormuz take responsibility for repairing environmental damage in the relevant waters. Peace Negotiations 1. Yemens Houthi rebels expressed willingness to engage in dialogue with Saudi Arabia. 2. Sources: There are currently no discussions on extending the ceasefire. 3. According to Al Arabiya TV: Pakistani mediators are seeking a 60-day extension of the (US-Iran) ceasefire. 4. Pakistan stated that it will continue to promote direct and indirect diplomatic channels between the US and Iran. Other Matters 1. Iranian Oil Minister: Irans daily natural gas production capacity is expected to recover significantly. 2. Former Mossad Director claims Israeli personnel have repeatedly "surveyed" Iranian nuclear facilities. 3. Iran claims that oil cleanup work is underway off the southern coast of Qeshm. 4. Secretary of Irans Supreme National Security Council: Iran and Pakistan are each others "strategic assets." 5. A supertanker was spotted docking at a key Saudi port for the first time in weeks. 6. Iran: The US Congress should investigate the increase in Trumps assets. 7. Iraqi Prime Minister: September 30 is the deadline for the international coalition to withdraw its troops.Venezuelas central bank: Inflation reached 19.9% in July.U.S. Commerce Secretary Rutnick: The establishment of an Apple (AAPL.O) Mac mini factory in Texas will be announced tomorrow local time.According to Fox Business, White House Council of Economic Advisers Chairman Feren stated that the CPI report weakened the case for raising interest rates.

ETH Bulls in the Need of Shanghai Hard Fork Updates for $1,700

Jimmy Khan

Jan 31, 2023 16:19

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ETH saw a rough day's start, dropping to a low of $1,567 in the morning. ETH rose to a late high of $1,661, avoiding the First Major Support Level (S1) around $1,550. To close the day at $1,645, ETH overcame the First Major Resistance Level (R1) at $1,601 and the Second Major Resistance Level (R2) at $1,629


Bitcoin (BTC) gained 3.11% on Sunday. After losing 0.16% on Saturday, BTC gained 4.55% for the week to reach $23,746. For the first time since August 19, BTC avoided falling below $23,000 and reached a new 2023 high of $23,962.


After a choppy start to the day, BTC dropped to an early low of $23,000 before moving. BTC surged to a late high of $23,962, avoiding the First Major Support Level (S1) at $22,876. BTC surpassed the key resistance levels and finished the day at $23,746. Late support was provided by the Third Major Resistance Level (R3) at $23,639

Delivered by Fed Policy Sentiment and Easing FTX Contagion Support

On Sunday, there were no outside market factors that might have given BTC, ETH, and the larger market direction. Price support was provided by market bets on a Fed interest rate rise of 25 basis points on Wednesday and a less aggressive interest rate path to achieve the target inflation rate.


Another benefit for riskier assets would be if interest rates followed a less aggressive trajectory, which would reduce the likelihood of a harsh landing.


Lessening FTX contagion risk continues to be the major driver for the crypto market in the short run.


However, the most recent White House statement added another another layer of regulatory ambiguity for cryptocurrency investors to traverse. The SEC may intensify its mantra of regulation by enforcement without providing the cryptocurrency market with a clear regulatory roadmap in response to calls for lawmakers and regulators to increase regulatory control.


Investors should keep an eye on the cryptocurrency news wires today for developments on FTX and Genesis, as well as talk around the Shanghai hard fork. Investors should be on the lookout for any hints that the scheduled March hard fork timing may be delayed.


The NASDAQ Index will probably have an impact during the afternoon session before Wednesday's interest rate announcement.

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