BTC Slips By 10% As Traders Panic, Crypto Daily TV 24/4/2023

Judge ruled in favor of Yuga Labs

A U.S. court in California has handed Yuga Labs, the company behind the popular Bored Ape Yacht Club NFT collection, a legal victory in the form of a partial summary judgment in its case against Ryder Ripps and Jeremy Cahen.

Gemini to open derivatives platform outside of US

Gemini, the U.S.-based crypto exchange, revealed that it plans to open an offshore derivatives platform – a decision announced as the regulatory environment gets tougher in its home country.

Bitcoin traders call for calm as BTC price slips 10% in a week

Bitcoin is seeing a “logical and healthy” pullback, analysts say, with $25,000 now a key BTC price line in the sand, after bitcoin dropped to $27000.

BTC/USD plummeted 1.0% in the last session.

The Bitcoin-Dollar pair dove 1.0% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 26903.3333 and resistance at 28345.3333.

The Ultimate Oscillator is giving a negative signal. 

ETH/USD plummeted 1.2% in the last session.

The Ethereum-Dollar pair plummeted 1.2% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 1828.0633 and resistance at 1909.1233.

The Ultimate Oscillator is currently in the negative zone.

XRP/USD dove 2.3% in the last session.

The Ripple-Dollar pair plummeted 2.3% in the last session. The ROC is giving a negative signal, which matches our overall technical analysis. Support is at 0.4344 and resistance at 0.4943.

The ROC is currently in negative territory.

LTC dropped 0.8% against USD in the last session.

The last session saw Litecoin drop 0.8% against the Dollar. The Stochastic indicator is giving a negative signal. Support is at 83.9933 and resistance at 88.6333.

The Stochastic indicator is currently in the negative zone.

Daily Economic Calendar:

US Chicago Fed National Activity Index

The Chicago Fed National Activity Index, released by Federal Reserve Bank of Chicago, is a monthly index designed to gauge overall economic activity and related inflationary pressure. The US Chicago Fed National Activity Index will be released at 12:30 GMT, the US Dallas Fed Manufacturing Business Index at 14:30 GMT, and the US 3-Month Bill Auction at 15:30 GMT.

US Dallas Fed Manufacturing Business Index

The Dallas Fed conducts the Texas Manufacturing Outlook Survey monthly to obtain a timely assessment of the state’s factory activity.

US 3-Month Bill Auction

Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity.

DE IFO – Business Climate

The IFO Business Climate Index is regarded as an early indicator of current conditions and business expectations. The Institute surveys enterprises on their assessment of the economic situation. Germany’s IFO – Business Climate will be released at 08:00 GMT, Germany’s IFO – Current Assessment at 08:00 GMT, Germany’s IFO – Expectations at 08:00 GMT.

DE IFO – Current Assessment

The IFO Current Assessment regarded as an indicator of current conditions and business expectations in Germany. The Institute surveys enterprises on their assessment of the current business situation and their short-term planning. 

DE IFO – Expectations

The IFO Expectations is regarded as an indicator of business expectations for the next six months. It is based on a survey in which firms rate the future outlook as better, same, or worse.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.