[US Market]Bitcoin Recovers $21,000 ─ FTX Seeks to Resume | coindesk JAPAN | Coindesk Japan

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New CEO John J. Ray III told The Wall Street Journal that the company is exploring the possibility of reviving the bankrupt FTX.

Ray said that while former CEO Sam Bankman-Freed and executives have been accused of criminal conduct, customers may see value in FTX’s technology and getting FTX back on its feet.

“Everything is under consideration. If there is a way forward, we will not only explore it, we will implement it.”

Lay said the decision to reopen FTX will be a matter of whether it can recover its customers, rather than simply liquidating assets or selling the platform.

Market trend

Source: CoinDesk Research

Bitcoin (BTC): Up 1.5% in 24 hours, near $21,100. It has recovered from the previous day’s loss. It rose 13% in one week.

Ethereum (ETH): Up 0.6% in 24 hours, near $1550. It rose 7% in one week.

Gemini USD (GUSD): The community of DeFi (decentralized finance) giant MakerDAO has voted to keep Gemini USD as part of stablecoin DAI’s $5 billion reserve assets. About 85% of the Gemini USD in circulation is held by MakerDAO, so it can be said that Gemini USD has avoided a crisis.

stock market: Stocks fell as recession fears still haunted the market. The Nasdaq dropped 0.9% and the S&P 500 and Dow Jones Industrial Average both fell 0.7%. The recent rally in the stock market and crypto assets may not last as the Fed is still keeping inflation in check, according to a Wednesday document from crypto options trading firm QCP Capital. It is said that there is

latest price

● CoinDesk Market Index (CMI): 1,004.16, +1.6%
Bitcoin: $20,983, +1.0%
Ethereum: $1,548, +1.2%

● S&P500: 3,898.85, -0.8%
Gold: $1,934, +1.5%
● US 10-year yield: 3.4%, ±0.0

market analysis

Source: CoinDesk

Bitcoin’s recent price rally has been a steep rally. A look at the historical data shows how extraordinary the recent Relative Strength Index (RSI) has been.

Over the past two weeks, Bitcoin posted three of the top 10 highest RSIs since 2019. 89.3 on January 14 ranked 3rd, 8th on 16th, and 9th on 17th.

Ethereum has a more moderate RSI, 12th and 15th since 2019.

But the momentum seems to be waning. Bitcoin and Ethereum RSI are currently down to 78 and 73 respectively. But a closer look at historical data shows that we are still in uncharted territory.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: CoinDesk
｜Original: Crypto Markets Today: Bitcoin Rides Over $21K, FTX’s Possible Revival