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On November 27th, Russian President Vladimir Putin stated on Thursday that the outline of the draft peace plan discussed between the United States and Ukraine could form the basis for a future agreement to end the conflict in Ukraine, but if not, Russia will continue fighting. Putin said, "Generally speaking, we agree that this can serve as the basis for a future agreement." He added that the version of the plan discussed by the US and Ukraine in Geneva has been submitted to Russia. Putin stated that the US is considering Russias position, but some issues still need to be discussed. He also stated that Russia is willing to provide guarantees of non-aggression if Europe desires them. "The fighting will only stop when the Ukrainian army withdraws from the areas they occupy. If they do not withdraw, we will force them to withdraw. Thats it." Putin also stated that the Russian army is accelerating its advance in Ukraine. Meanwhile, Putin stated that he believes the Ukrainian leadership is illegitimate, therefore a legally improbable agreement with Ukraine is impossible, and any agreement must be recognized by the international community, which must acknowledge Russias achievements in Ukraine. Putin also refuted claims that US Special Envoy Witkov showed favoritism towards Moscow in the Ukrainian peace negotiations, calling them nonsense.The commander-in-chief of the Ukrainian army stated that Russia had to deploy reserves during its operations in Pokrovsk.A senior aide to the Ukrainian president said that the work of the Ukrainian and U.S. delegations on the peace plan will continue this weekend.German Chancellor Merz: Even after a peace agreement is reached, Ukraine will still need a strong armed force and security guarantees.Sources say OPEC+ may reach an agreement on a mechanism for assessing the maximum production capacity of member countries.

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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