Macroeconomics and financial markets
US stock markets were closed for the Memorial Day holiday. The Nikkei Stock Average dropped 114 yen (0.37%) from the previous day to 31,119 yen.
connection:Stock investment recommended for cryptocurrency investors, representative cryptocurrency stocks of Japan and the United States “10 selections”
Virtual currency market
In the crypto asset (virtual currency) market, Bitcoin fell 1.19% from the previous day to $27,760.
The price climbed to $28,500 in response to an agreement in principle between the US ruling and opposition parties on the US debt ceiling issue, which had weighed on the market, but it took a break as a reactionary fall after the sharp rise.
The bill is expected to be passed by the U.S. Congress (both houses of Congress), but if it is not passed, the federal government’s funds for principal redemption and interest payments on government bonds will be depleted as early as June 5, leading to a default. There is still the possibility of falling into (default).
Regarding the long-term outlook for the bitcoin price, Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX, expects a limited rise this year, but will reach new highs in 2024, when the fourth halving will occur. predicted.
connection:Countdown to the next Bitcoin half-life less than a year away, market trends and expert predictions?
Hayes, who now runs the family office Maelstrom, raises alarm bells about the traditional financial system, given the trillions of dollars of federal debt issuance and inflation risks. Outside of that framework, he suggests investing in bitcoin, gold, and real estate, as well as business investments that generate stable cash flow.
connection:JP Morgan Analyst Says Bitcoin Could Reach $45,000
Bitcoin’s “Taker Buy/Sell Ratio” is nearing its peak since mid-February, said nino, an analyst at data analytics firm CryptoQuant.
The indicator is the ratio of takers’ buying volume divided by selling volume in perpetual swap trades.
A reading of 1.0 or above suggests bullish sentiment as it means that takers’ buy orders are outstripping their sell orders, but nino is skeptical.
He cited a sharp rise in OI (open interest) as the reason.
Derivatives markets are seemingly bullish, but this will lead to opposite settlements or loss cuts (forced liquidation) of positions.
On the other hand, the “Bitcoin Exchange Whale Ratio,” which estimates the level of activity of whales based on the large-scale transaction ratio of the total inflow to cryptocurrency exchanges, fell to 0.3, the lowest level since March this year. .
It has been pointed out that whales (major investors) looking for long-term holdings may be transferring funds from exchanges where they can buy and sell immediately to custody wallets.
Click here for a list of market reports published in the past
[Recruitment]Recruitment of new personnel due to Web3 business expansion
Japan’s largest cryptocurrency media CoinPost is looking for full-time employees and interns as it expands its Web3 business.
1. Media Business (Editorial Department)
2. Marketing operations
3. Conference management and launch work
4. Open Position (students welcome)
Details https://t.co/UsJp3v8mSH pic.twitter.com/B98JZmoQbW
— CoinPost-virtual currency information site-[app delivery](@coin_post) February 14, 2023