Week Financial News

Dozens of flood warnings have been issued across the UK as it is battered by the third storm in a week.

By Analytics Team, Giottus Crypto ExchangeBitcoin (BTC) dropped 6% last week as the standoff between Russia and Ukraine continues to spook investors globally. BTC briefly traded above $44,500 mid-week before escalating geo-political tensions affected financial markets. BTC is now trading just below the psychological level of $40,000 with the overall crypto market cap at $1.81 trillion. Ethereum (ETH) continues to be affected by BTC’s price movements and has shed nearly 7% this week to trade around $2,700 level. All the top 20 cryptocurrencies are in the red on a weekly timeframe except Avalanche (AVAX) with a 3% increase.

Since striking its all-time high on 4 November, Polkadot (DOT) bears were in the driver’s seat as DOT declined between southbound parallel lines (yellow). The most recent fall pushed the alt below its six-month-long trendline support (now resistance). 

Russia’s massive build-up of soldiers, warplanes, equipment and extended military drills near Ukraine’s borders increased fears of a possible invasion within the next few days. That could have renewed selling in Bitcoin (BTC), which plummeted below the strong support at $39,600.

Federal Reserve speakers, consumer spending and inflation data highlight this week’s economic calendar. Geopolitical tensions in Eastern Europe will also be in focus.

Police arrested scores of demonstrators and towed away vehicles Friday in Canada's besieged capital, and a stream of trucks started leaving under the pressure, raising authorities' hopes for an end to the three-week protest against the country's COVID-19 restrictions.

The White House will reportedly be issuing an executive order as early as next week directing government agencies to study different aspects of the digital asset space with the goal of creating a comprehensive regulatory framework.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

Polygon (MATIC) was on a steady uptrend as it formed a six-month-long rising wedge (yellow) and attained its ATH on 27 December. Since then, it saw a steep fall while falling below its 20-50-200 EMA.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

Bitcoin (BTC) starts the week with a slow drag downhill towards pivotal support at $40,000.

The U.S. Commerce Department’s retail-sales report for January highlights this week’s slate of economic data.

Bitcoin (BTC) has given back some of its recent gains, but on-chain data resource Ecoinometrics said that whales are accumulating because they believe the price is attractive from a long-term perspective.

XRP price has continued to bounce back after falling by more than 70% in a correction between April 2021 and January 2022.

Investors are bracing for more gyrations in bitcoin and other cryptocurrencies, as worries over a hawkish Federal Reserve threaten to squelch risk appetite across markets. The volatility traditionally associated with cryptocurrencies has been on full display in recent weeks. Bitcoin, the largest cryptocurrency, is up by around 33% since Jan. 24 and recently traded at $43,850, rebounding from a tumble that cut its price in half from November's record high. Its main rival, ether, is up around 45% since Jan. 24 at around $3,200, following a nearly 56% nosedive from its record high of $4,868, also in November. While proponents of cryptocurrencies once touted their lack of correlation to other assets, bitcoin and its peers saw huge gains over the last two years, rallying along with stocks as the Fed and other central banks pumped unprecedented levels of stimulus into the global economy. Bitcoin is up 1,039% since March 2020 and ether has risen 2,940%, though the rallies in both cryptocurrencies have been interrupted by numerous-stomach churning selloffs.

The United States Federal Bureau of Investigation (FBI) has issued a warning against the rise in romance scams in the San Francisco Bay Area, with the latest trend involving cryptocurrencies. 

The US Federal Reserve (Fed) is set to hold an unscheduled meeting on Monday to discuss interest rates, described by some as an “emergency meeting” and others as a fairly “regular occurrence.” Regardless, the Fed’s unexpected notice has sparked debate in the crypto community over whether the central bank would announce a rate hike -- and if so, how high, and how many of them would there be this year. 

crypto assets have risen from their ashes to deliver handsome returns to those who kept faith in the digital space. One such example is GALA, a metaverse play, which has more than doubled investors' wealth in just one week. However, the token has remained volatile after doubling investors' wealth. It jumped to $0.3718 on Thursday from $0.1799 a week ago, the data from Coinmarketcap suggest. There are a total 6.98 billion GALA tokens in circulating supply, it added.

While it seems OpenSea is keeping pace with January’s total volume of $5 billion by generating over $1.3 billion in total volume the last 7 days, the number of active users has decreased by more than 30% according to data from Dune Analytics.