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Ethereum approaches a key resistance, which could spark gains if it breaks through. Market sentiment is mixed, with bullish signs but ongoing selling pressure affecting price. Technical indicators suggest potential upward momentum but warn of weakening bullish strength.
Bitcoin remains relatively stable, while altcoins and stablecoins show remarkable growth. Peter Schiff expresses concerns over Bitcoin’s weak performance despite Trump’s increasing odds. Schiff comments that the community’s increasing BTC purchase may have weakened the price action.
Tesla has moved its Bitcoin holdings to seven different wallets. The company has 11,509 BTC worth around $776.9 million. Bitcoin is facing resistance at the $69,000 price level and awaits breakout.
Quick Take The Financial Stability Board said risks from global finance’s exploration of tokenization are low because the technology has not been adopted at scale. Despite the suggested low risk, the report warned that liquidity and maturity mismatches in tokenized assets could threaten financial stability, particularly as projects become more complex and opaque during market stress.
Quick Take Variational announced raising $10.3 million in seed funding from Bain Capital Crypto, Coinbase Ventures and others. Variational is an Arbitrum-based peer-to-peer crypto derivatives trading protocol.
XRPL has been doing well in new wallet creation and DEX volume; however, the network’s NFT ecosystem is seeing less activity.
- 19:21SOL rallies past $200, up 0.31% in 24 hoursOn 7 February, according to market information, SOL rallied above $200, up 0.31% in 24 hours.
- 19:20Slow but healthy US labour market strengthens Fed's case for no rush to cut ratesFebruary 7, the U.S. Bureau of Labor Statistics released a report on Friday showed that non-farm payrolls increased by 143,000 last month, compared with a revised increase of 307,000 in December. The Bureau of Labor Statistics said the wildfires in Los Angeles and the harsh winter weather in the rest of the U.S. had ‘no discernible impact’ on employment during the month.The change in January's jobs data and the latest jobs data for early 2023 suggest that the labour market is slowing, but healthy, and continues to drive economic growth without contributing to inflationary pressures. This also helps explain why Fed policymakers have said they are in no hurry to lower borrowing costs further after three rate cuts last year.
- 19:19The US Dollar Index DXY has briefly advanced more than 50 pips and is now at 107.91BlockBeats news, on 7 February, the dollar index DXY short-term higher more than 50 points, now at 107.91; non-US currencies fell, the dollar against the yen USD/JPY short-term higher than 100 points, the euro against the dollar EUR/USD short-term lower 60 points.