[US Market]Bitcoin rises to over $18,200 | coindesk JAPAN | Coindesk Japan

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Bloomberg reports that Coinbase is pulling out of most of its operations in Japan. All non-core staff have been laid off, and they are in talks with authorities about how to respond.

FTX has recovered more than $5 billion in assets, separate from $425 million held by the Bahamas Securities Commission, an attorney in charge of bankruptcy proceedings said Jan. 11.

“We have collected over $5 billion in total, including cash, crypto assets and securities. We cannot find value in holding dozens of crypto assets with low liquidity. In contrast, our holdings are so large that they cannot be sold without significant market impact,” said Adam Landis, an attorney at the law firm Landis Rath & Cobb, which represents FTX. said Mr.

The total debt owed by FTX to its creditors has not yet been determined, but was listed at between $1 billion and $10 billion in its bankruptcy filing. This announcement is a big step forward.

Market trend

Source: CoinDesk Research

Bitcoin (BTC): In the past 24 hours, it remained almost flat at the $ 17,500 level. In the futures market, Chicago Mercantile Exchange (CME) 3-month bitcoin futures were traded at a premium for the first time since the FTX bankruptcy (as of 11:30 on the 12th Japan time, it was over $18,200). It is rising).

Bitcoin SV (BSV)Bitcoin SV fell about 15% from $44 to $37 at one point, near $40 at time of writing, after stock trading app Robinhood announced it would end support on January 25. ing.

Ethereum (ETH): Flat like Bitcoin, around $1340.

stock market: The stock market rose. The Nasdaq rose 1.7%, the S&P 500 1.2% and the Dow Jones Industrial Average 0.8%.

latest price

● CoinDesk Market Index (CMI): 855.85, +0.3%
Bitcoin: $17,563, +0.6%
Ethereum: $1,342, +0.2%

● S&P500: 3,969.61, +1.3%
Gold: $1,881, +0.5%
10-Year US Treasury Yield: 3.55%, -0.1

market analysis

Source: Glassnode

On-chain data shows both hope and concern about Bitcoin. The question is whether Bitcoin can sustain above $17,000 this week.

One concern is the declining number of new Bitcoin addresses. According to Glassnode, as the Bitcoin price rises, interest and Bitcoin addresses tend to grow. Addresses declined in November 2022 as bitcoin traded relatively flat.

This seems to indicate two things.

1. At the time, the market did not yet believe that Bitcoin had bottomed out.
2. Whether Bitcoin hit bottom or not, investors felt there were better opportunities elsewhere.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: CoinDesk
｜Original: Crypto Markets Today: FTX Finds $5B, Bitcoin Extends Rally