Financial market tankan on the morning of the 10th | US IT and virtual currency stocks rise across the board

January 10 (Tue) morning market trends (compared to the previous day)

traditional finance

• NY Dow: $33,518 -0.3%
• Nasdaq: $10,658 +0.8%
• Nikkei Stock Average: Closed on the 9th
• USD/JPY: 131.8
• USD Index: 103.1 -0.6%
• 10-year US Treasury yield: 3.5% -1.1% annual yield
• Gold Futures: $1,875 +0.3%

crypto assets

• Bitcoin: $17,230 +1.5%
• Ethereum: $1,323 +4.2%
• Solana: $16.4 +20%
• GALA: $0.04 +24.5%

Today’s New York Dow started with buying first in the early stages, but fell back in the final stages. – was $112. This week, there will be an announcement of the US CPI (Consumer Price Index) and an announcement of financial results for the October-December quarter, which will begin with major banks.

• January 12 (22:30): US Consumer Price Index (CPI)
• January 13: January University of Michigan Consumer Confidence Index, preliminary figures
• January 18: US December Retail Sales and Wholesale Price Index (PPI)/Core
• January 20: Japan December National Consumer Price Index (CPI)
• February 2: FOMC Policy Interest Rate Announcement/Chairman Powell’s Press Conference

Relation: What is the “dollar index” that also pays attention to the virtual currency market | Commentary for beginners

The December monthly employment report released in the United States over the weekend showed an increase of 223,000 people, exceeding market expectations, and the unemployment rate fell to a record low of 3.5%. However, the dollar is selling stronger as average hourly earnings growth is slower than expected and the FOMC is expected to raise interest rates by 0.25% in February. Meanwhile, the 10-year US Treasury yield fell from 3.75% to 3.5%.

Source: Tradingview

Relation: Commentary on the relationship between government bonds and interest rates, and the impact on the cryptocurrency market

US stocks

As for US stocks, IT and high-tech stocks maintained their momentum from the end of last week, and the atmosphere of risk appetite continued. By individual stock, Alibaba +3.3%, Albireo (biopharmaceutical) +92%, Amazon +1.8%, Microsoft +1.1%, Apple +0.6%, Tesla +6%, Meta -0.25%, Coinbase +15%, Micro Strategy +9%, Hive Blockchain Technologies +16%, Core Scientific +22%.

As for Tesla, over the weekend, it cut prices significantly in China, prompting owners who bought their cars at pre-cut prices to demand refunds. Tesla on Monday slashed the prices of its Model 3 and Model Y to make them more competitive in the Chinese market.

Tesla is the second largest non-mining company in Bitcoin after MicroStrategy among publicly traded US companies, and is said to still hold 9,720 BTC.

Relation: US Micro Strategy sells part of Bitcoin for the first time due to tax measures

Virtual currency market

The virtual currency market continues to grow from the weekend. In particular, the price movements of Solana, ADA, Ethereum’s liquid staking stocks (LSD-related stocks), and AI-related stocks were particularly noticeable. Below are the winning percentages for the past week.

• LDO (Ether staking related): +77%
• RPL (same as above): +21%
• FET (AI related): +60%
• ORAI (same as above): +58%

In addition, the game-related stock GALA soared last night, temporarily up 60%. Gala Games has announced that the GALA token will replace the traditional TOWN token as the native token for a game called Town Star. In addition, it seems that the related project Gala Films has been leaked and used as a material to tie up with famous American actors Dwayne Johnson and Mark Wahlberg.

Benefactor announces that $GALA will be the token that powers @TownStarGame and will swap all $TOWN for $GALA at a 2:1 ratio. Check out the announcement in our Discord at https://t.co/qSszqareBK! pic.twitter.com/bRMyePY5zP

— Gala Games (@GoGalaGames) January 9, 2023

Cryptocurrency/Blockchain-related Stocks (Year-on-Year Change/Year-to-Week Change)

• Coinbase｜$38 (+15%/+15%)
• Hive Blockchain Technologies | $2.1 (+16%/+16%)
• Core Scientific | $0.086 (+23%/+23%)

Virtual currency-related stocks have risen significantly due to the continuing rise in the virtual currency market. In mining-related stocks, Core Scientific announced that in December 2022, the number of Bitcoins mined increased by 5.8% month-on-month despite bad weather such as heavy snow in the United States. The company filed for Chapter 11 bankruptcy in Texas on December 21. It is trying to use the profits to pay off its debts while continuing its mining operations.

Source: Tradingview

Relation: Stock investment recommended for virtual currency investors, representative virtual currency stocks of Japan and the United States “10 selections”

GM Radio 2nd Archive

https://t.co/nr8dNhvmzM

— CoinPost Global (@CoinPost_Global) December 22, 2022

Special guests this time are Yat Siu, chairman of Animoka Brands, a leading Web3 (decentralized web) company, and Benjamine Charbit of Darewise Entertainment. He talks about the current challenges of Web3 games and NFTs, Darewise’s first title “Life Beyond”, and the outlook for the industry.

Relation: To hold the 2nd “GM Radio”, guests are the chairman of Web3 major Animoka Brands

The post Financial market tankan on the morning of the 10th | US IT and virtual currency stocks rise across the board appeared first on Our Bitcoin News.