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On December 16th, Capital Economics economist Stephen Brown stated that he is not overly concerned about the non-farm payroll report. He pointed out that private sector non-farm payroll data was robust. Private sector employment, excluding government, has shown accelerated growth in recent months: an average increase of 75,000 over the past three months, compared to an average increase of only 15,000 between May and July. Analyst Anstey noted that this also confirms the view that the healthcare sector is a key driver of growth. Furthermore, manufacturing employment has seen an absolute decline. Therefore, while the employment situation has improved, a broad upward trend has not yet emerged.On December 16th, Peter Anderson, founder of Anderson Capital Management, commented on the latest non-farm payroll data, stating that investors hope for a smooth run without any surprises, and even if there are fluctuations, they shouldnt be too significant. Even a slight increase in the unemployment rate would increase the likelihood of further interest rate cuts. However, as weve seen in the past, this isnt a consistently consistent trend. "Were now seeing some divisions within the Federal Reserve Board. Some people opposed the recent rate cut decision, and theres also a high level of focus on who will lead the Fed. Therefore, the Fed is currently in an unprecedented state of distraction, and it wont make any major policy decisions until all these issues are resolved."Acting Chairman of the White House Council of Economic Advisers (CEA), Yared: Inflation is "returning to normal" and back to historical levels.Acting Chairman of the White House Council of Economic Advisers (CEA), Yared: The rise in the unemployment rate should not be over-interpreted.December 16th - Lenovo Group announced that it is working closely with Infineon Technologies to accelerate the next phase of autonomous driving. Lenovos flagship domain controllers, AD1 and AH1, integrate Infineons AURIX™ microcontroller technology, providing robust support for Advanced Driver Assistance Systems (ADAS) and achieving superior energy efficiency and high-speed data communication across vehicle networks.

ETH and a Look at $1,800 Shanghai Hard Fork Update Dependent

Skylar Shaw

Feb 20, 2023 15:57

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On Saturday, Ethereum (ETH) fell by 0.12%. On Friday, ETH gained 3.42% and closed the day at $1,692. ETH returned to $1,700 for a third session in a row.


After spending the morning in a narrow range, ETH increased to a late-afternoon high of $1,714 before going back down. The price of ETH dropped to a late low of $1,680 after failing to reach the First Major Resistance Level (R1) at $1,734. The First Significant Support Level (S1) at $1,642 was avoided, and ETH returned to $1,694 before slipping back into the negative territory.


Bitcoin (BTC) increased by 0.21% on Saturday. BTC finished the day at $24,633, building on a 4.48% increase from Friday. Bitcoin missed the $25,000 level for the first time in three sessions despite the positive day.


Following a day of range-bound trading, Bitcoin dropped to a low of $24,450 in the early morning. BTC increased to a high of $24,878 in the late afternoon, avoiding the First Significant Support Level (S1) at $23,614 in the process. Bitcoin slipped down to close the day at $24,633 after failing to surpass the First Major Resistance Level (R1) at $25,287.

Shanghai Hard Fork Update: ETH is no longer active Without heels

There were no development updates from Shapella testnet testing on Saturday. The Shanghai hard fork is anticipated to take place in March, therefore on Saturday, the absence of news was welcome. Yet, ETH and BTC may have been held back from another high session by uncertainties over the US crypto industry regulatory environment and Fed Fear.


While US lawmakers' investigation of SEC regulatory action resulted in mid-week support, there is still anti-crypto sentiment on Capitol Hill in the aftermath of FTX's bankruptcy.


Last week, Coinbase CEO Brian Armstrong urged for more clarity in cryptocurrency legislation, stating that the absence of such regulations and a hostile regulatory climate were contributing to America's long-term decline as a financial center. To adopt unambiguous law, Congress has to move quickly.


 Everyone can use cryptocurrency, and others are taking the lead. The UK, the EU, and now Hong Kong.


The CEO of Coinbase said that all inhabitants of Hong Kong would be able to trade cryptocurrencies starting on June 1.


Although progress toward the Shanghai hard fork is encouraging for ETH, the impact of the hard fork on ETH will probably rely on the state of the cryptocurrency market. Investor attitude and staking intents would be affected by the SEC's enforcement of regulation being tightened up and by anti-crypto sentiment on Capitol Hill.


The SEC's action against Kraken and other cryptocurrency staking firms caused a significant decline in daily staking inflows for Ethereum. After the decline on February 13, stake inflows have been inconsistent.


CryptoQuant reports that daily ETH staking inflows reached a low of 4,896 ETH on February 23 before increasing. Inflows peaked at 33,280 EHT on February 14 before dropping to 16,640 EHT on Friday and 11,520 EHT on Saturday.

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