• The Bitcoin price rally has stalled for five days due to Bitcoin’s Relative Strength Index (RSI) showing severe overheating.
• The stalling of the BTC price at $23,000 could signal a healthy consolidation before a new price rally.
• The upcoming FOMC meeting of the U.S. central bank on February 1 could set the tone for the future of the Bitcoin price.

The Bitcoin price has been in the spotlight recently as it experienced a tremendous surge from $21,000 to $23,000 last Friday. However, the rally has since stalled, causing many investors to question the future of the world’s largest cryptocurrency.

The reasons behind this stalling of the Bitcoin price are diverse. Firstly, Bitcoin’s Relative Strength Index (RSI) on a daily basis showed severe overheating during the recent surge from $21,000 to $23,000. The RSI is a technical indicator that reveals how oversold or overbought a certain asset is. During the recent rally, the daily RSI was near 90 at times but has since cooled to 78 at press time. This could be a sign that a healthy consolidation is taking place, which could be a precursor for a new price rally.

Another factor that could be influencing the Bitcoin price is its correlation with the U.S. Dollar Index (DXY) and the S&P 500. Generally speaking, a weakening dollar is bullish for risk assets like Bitcoin and the S&P 500. However, the weekly chart of the DXY reveals that the dollar index is still holding above its weekly support at 101, which experts consider an extremely crucial support level. If the DXY breaks below this mark, the Bitcoin price could experience a significant boost.

The next FOMC meeting of the U.S. central bank will take place in just one week, on February 1. This meeting could have a significant impact on the future of the Bitcoin price, as it will set the tone for the direction of the U.S. dollar and the global economy. If the FOMC signals that it is likely to keep interest rates low for the foreseeable future, it could lead to a weakening of the dollar and a surge in the price of Bitcoin.

Overall, it is clear that the near-term future of the Bitcoin price is highly dependent on the upcoming FOMC meeting. If the FOMC signals a dovish stance, it could lead to a surge in the Bitcoin price. However, if the FOMC signals that it is likely to hike interest rates soon, it could cause the Bitcoin price to fall. Investors should therefore keep a close eye on the upcoming FOMC meeting and be prepared to take action depending on the outcome.

• Ethereum has been breaking barriers since the start of the year, currently trading at $1,588 and gaining 20% in the past week.
• The recent Shanghai network upgrade has generated buzz in the market and Vitalik Buterin has shared his vision of the Ethereum ecosystem in the year 2032.
• Analysts are still bullish on Ethereum’s short-term prospect and believe that if Buterin’s vision turns into a reality, the Ethereum ecosystem would become the most decentralized in the world of DeFi.

The cryptocurrency market has seen a major resurgence as of late, with Bitcoin and Ethereum leading the charge. Ethereum, the top altcoin, has been making headlines this week after gaining 20% in the past seven days, boasting a current price of $1,588 according to CoinGecko. This surge in price comes at the heels of the latest news regarding the Shanghai network upgrade, which would add new features on the Ethereum platform.

The upgrade has generated a buzz in the market and the Ethereum Foundation has stated that it would “unlock new possibilities for the Ethereum ecosystem.” Vitalik Buterin, the founder and inventor of Ethereum, recently shared his vision for the cryptocurrency in the year 2032. According to Buterin, Ethereum’s future would involve the ability to run nodes on a phone and this could help to solidify Ethereum’s position as a major player in the DeFi space.

Analysts are still bullish on Ethereum’s short-term prospect and believe that if Buterin’s vision turns into a reality, the Ethereum ecosystem would become the most decentralized in the world of DeFi. This would provide Ethereum with a competitive edge over other platforms and could help to drive the price of Ethereum higher. With that being said, traders and investors should remain vigilant in the days and weeks to come, as the cryptocurrency markets are notoriously volatile and unpredictable.

Despite the volatility, Ethereum has seen a remarkable recovery since the start of the year, and the Shanghai network upgrade could be just the catalyst that Ethereum needs to reach new heights in 2021. With the increasing buzz and positive sentiment surrounding the cryptocurrency, Ethereum could very well reach the $2,000 mark this year and beyond. For now, traders and investors should continue to monitor the market closely and be prepared for any changes that may occur in the coming days and weeks.

• Managing Partner and head of research at Fundstrat Global Advisors, Thomas Lee, has outlined why the VIX – a real-time volatility index from the CBOE – will become an important indicator for equity markets and possibly Bitcoin in the coming months.
• Lee expects a 20% rally for the S&P 500 this year, as inflation will fall faster than the Fed recently forecasted, which will have a decisive impact on the VIX, causing it to decline in value.
• Thursday will be a telling day, with core CPI being below consensus, suggesting that the original Fed forecast of 4.8% for PCE is 60 basis points too high.

According to Thomas Lee, managing partner and head of research at Fundstrat Global Advisors, the VIX – a real-time volatility index from the Chicago Board Options Exchange (CBOE) – will become an increasingly important indicator for equity markets and possibly Bitcoin in the coming months.

The VIX was created to quantify market expectations of volatility for the S&P 500, and is future oriented, meaning that it only shows the implied volatility for the next 30 days. The rule of thumb is: if the VIX increases, the S&P 500 is likely to decrease, and if the VIX value decreases, the S&P 500 is likely to remain stable or increase.

Lee expects a 20% rally for the S&P 500 this year, based on the fact that inflation has surprised the Fed on the downside last year and will inversely surprise it this year. This will have a decisive impact on the VIX, causing it to decline in value.

„The bond market volatility is below its 200 day [average]. If that happens to the VIX, we would be at 17,“ Lee claims and continues to say that „since the 1950s, following a negative year, if the VIX is lower on average than the prior year, we are up an average of 22%. So I think we are set up for a 20% year.“

Thursday will be a telling day, with core Consumer Price Index (CPI) being below consensus, suggesting that the original Federal Reserve (Fed) forecast of 4.8% for Personal Consumption Expenditures (PCE) is 60 basis points too high.

If Lee’s prediction is correct, it will be a bullish sign for equity markets and possibly Bitcoin, as the VIX will be an increasingly important indicator for assessing the current market situation. It will also suggest that the Fed’s forecast was too high, and that inflation is likely to be lower than expected. For investors, this can be a sign to reassess their portfolios and make the necessary adjustments.

• Square Enix has committed to focusing on “blockchain entertainment” and Web3 in 2023.
• The company explored non-fungible token (NFT) initiatives in 2022 and saw positive feedback.
• Square Enix has seen an increase in smart device and PC sales, prompting them to focus on amplifying digital sales and entertainment.

Square Enix, the legendary gaming studio, has announced its continued commitment to Blockchain technology and digital assets in 2023. In a letter published by the company’s president Yosuke Matsuda, the company expressed their focus on „blockchain entertainment“ and Web3.

The gaming studio explored non-fungible token (NFT) initiatives in 2022 and saw positive feedback, according to the company’s financial results. Matsuda commented on the reception, stating “we are most focused on blockchain entertainment, to which we have devoted aggressive investment and business development efforts. Looking externally, I think it is fair to say that blockchain gained significant recognition as a field in 2022.”

The interest in the sector could be based on the spike in sales from mobile games, as seen in the chart below. The net sales revenue from smart devices and PCs has been trending to the upside since 2020, becoming a bigger part of the company’s contribution.

In terms of the physical game versus digital game sales, digital game sales have become more critical for the company since Q3 2020. This metric continues to rise today and, combined with the net sales revenue, explains the interest in amplifying digital sales and entertainment.

In order to expand their presence in the blockchain space, Square Enix will launch an overseas entity dedicated to “issuing, managing, and investing our own tokens” and publishing games in countries with “wide cryptocurrency usage.” The gaming studio will also focus on generating new revenue streams with the help of digital assets and blockchain technology.

Square Enix will also launch a “White Paper” to explain the company’s commitment to blockchain technology and digital assets. The paper will outline the “new media revolution” that the company looks forward to, as well as the strategies they will use to capitalize on the potential opportunities in this space.

The gaming studio’s commitment to blockchain technology and digital assets will have far-reaching implications for the industry. With the increasing popularity of digital assets and blockchain technology, Square Enix’s focus on this space could create a new wave of innovation and opportunity within the gaming industry.

Bullet Points:
• CRV token price has experienced a 1.46% drop and is currently trading at $0.5323.
• CRV is dominating the DeFi market with 44% and processing more than $100 million daily.
• Curve Finance recently integrated with zkSync 2.0 mainnet for improved security and privacy.

The world of cryptocurrency has been undergoing a significant transformation in recent times as more people now prefer decentralized exchanges (DEXs) and decentralized finance (DeFi) platforms over centralized exchanges. One of the leading players in the DeFi space is Curve Finance and its native token, CRV. The token has seen some ups and downs in recent times, but it has still managed to remain one of the top two cryptos in terms of total value locked (TVL).

At press time, CRV token price has dropped by 1.46%, currently trading at $0.5323 according to CoinMarketCap. Despite this slight dip in price, CRV is still leading the DeFi market with 44%, as seen on January 1, 2023. Furthermore, the token processes more than $100 million daily, making it one of the most powerful cryptos in terms of volume.

In order to further scale in terms of security and privacy, Curve Finance recently announced that they would be integrating with zkSync 2.0 mainnet. This integration will enable Curve to become an Automated Market Maker (AMM), allowing it to build several liquidity pools. With these recent updates and integrations, Curve transactions have improved significantly, increasing the overall confidence of its users.

Overall, CRV has experienced some dips in terms of TVL in 2022, but traders remain optimistic about the token for 2023. With Curve Finance’s recent updates and integrations, the token is sure to rise in terms of price and TVL, making it one of the leading cryptos in the DeFi space.

• Ripple CTO David Schwartz and self-proclaimed Bitcoin inventor Craig Wright clashed over the Christmas holidays in a verbal altercation on Twitter.
• Wright responded to a screenshot of a years-old tweet from Schwartz in which the Ripple CTO stated that Wright is not the inventor of Bitcoin, Satoshi Nakamoto.
• The discussion evolved toward Wright’s claim that the XRP Ledger cannot scale.

The debate between Ripple CTO David Schwartz and self-proclaimed Bitcoin inventor Craig Wright has been raging since the Christmas holidays. The two opponents first sparred on Twitter, when Wright responded to a screenshot of a years-old tweet from Schwartz in which the Ripple CTO stated that Wright is not the inventor of Bitcoin, Satoshi Nakamoto.

The exchange of words between the two did not end there. The conversation quickly moved from the identity of the Bitcoin creator to the merits of the two blockchains in question – Ripple’s XRP Ledger and Wright’s Bitcoin SV. Wright argued that the XRP Ledger could not scale, citing its reliance on a centralized validator set and its lack of support for smart contracts. Schwartz countered by arguing that the XRP Ledger is one of the most scalable networks in existence and that its distributed ledger technology allows it to process thousands of transactions per second.

The two rivals have clashed multiple times since the initial altercation, often debating the scalability of their respective blockchains. In addition to the technical arguments, Wright has also made numerous personal attacks against Schwartz, accusing him of being “arrogant” and “ignorant”.

In the end, the debate between Schwartz and Wright has become an interesting case study in the ongoing war between the two main blockchains. While the technical arguments may never be resolved, it is clear that both sides have strong opinions on the matter and are not afraid to voice them. As the debate continues, it will be interesting to see how the two rivals’ positions evolve and how the two blockchains compare against each other.