Image default
Crypto

First Mover Americas: Bitcoin Stays Near $17K Ahead of Jobs Report

Facebook iconLinkedin iconTwitter iconCDCROP: Help Wanted Ad (Getty Images)

The U.S. jobs report is due to be released early Friday. (Getty Images)

Facebook iconLinkedin iconTwitter icon

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Latest Prices CoinDesk Market Index (CMI) 868.43 −2.5 0.3% Bitcoin (BTC) $17,011 −114.7 0.7% Ethereum (ETH) $1,290 +2.3 0.2% S&P 500 futures 4,080.25 +NaN NaN% FTSE 100 7,544.88 −13.6 0.2% Treasury Yield 10 Years 3.53% 0.2 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC) Top Stories

Bitcoin was roughly flat at around $17,000 early Friday ahead of the November jobs report due at 8:30 a.m. ET. The U.S. employment report for November is expected to show a sizable slowdown in hiring, but the labor market remains too tight, according to Federal Reserve Chairman Jerome Powell. Ether was climbing ahead of the report, up slightly on the day.

Derivatives marketplace Chicago Mercantile Exchange and cryptocurrency index provider CF Benchmarks this month will introduce reference rates and real-time indexes for aave (AAVE), curve (CRV) and aynthetix (SNX). The new rates will be calculated and published starting on Dec. 19. They aren’t tradable futures products now.

Binance’s chief strategy officer said the company’s centralized exchange may not exist in 10 years because the crypto market is moving toward decentralized finance. For now, the exchange is trying to keep customers’ trust after the collapse of rival exchange FTX by implementing “proof of reserves,” which is a way to show customers that their assets are fully backed by liquid assets.

Chart of the DayCoinDesk - Unknown

(Source: Bloomberg, @Marcomadness2)

  • The chart shows a renewed uptick in the U.S. consumer inflation expectations tracked by the Conference Board and University of Michigan.
  • The data suggests the consumer price index may moderate slower than markets anticipate, delaying the potential Federal Reserve pivot away from liquidity tightening.
  • Risky assets, including cryptocurrencies, have taken a beating this year predominantly because of the Fed’s liquidity tightening.

Trending Posts

  • Coinbase Disables Mobile NFT Transfers, Citing Apple’s App Store Policies
  • DeFi Protocol Ankr Exploited for Over $5M
  • US CFTC Commissioner Cites Latest Crypto Sanction in Call for New Rules

Trending1Markets Daily Podcast CoverMarkets Daily Crypto RoundupWeekend Story: What Do You Really Own in the Ownership Economy?Dec 4, 20222CDCROP: The HASH Podcast GraphicCoinDesk Podcast NetworkHeadlines: Top Stories of the Week 11-28-22Dec 3, 20223(ryasick/Getty Images, modified by CoinDesk)The Breakdown, With NLWMarket Whiplash as Jobs Report Undermines Powell’s Less Hawkish SpeechDec 3, 20224Markets Daily Podcast CoverMarkets Daily Crypto RoundupWeekend Story: What Is a Crypto Exchange Token and How Did It Help Blow up FTX?Dec 3, 2022

Source coindesk.com

Related posts

Bitcoin: la caída semanal de 10% sugiere tendencia bajista previa al simposio de la Fed

Blake Goodwin

Crypto Gaming Token AXS Under Pressure as $215M Unlock Looms for Axie

Blake Goodwin

Binance Exchange’s BNB Token Leads Broad Crypto Rebound After FTX Bailout Offer

Blake Goodwin

Leave a Comment