On this morning of January 5, 2023, the price of Bitcoin remains virtually unchanged, sailing in a narrow range of $16,750 to $16,950 and quoting in the early morning at $16,825, down 0.3% from yesterday. For its part, Ethereum is very stable and remains around $1,250virtually unchanged from the previous day.
Despite major cryptocurrencies trading lower early on January 5, Global Crypto Market Cap Remained Stable overall, reaching $820.08 billion.
In the past 24 hours, the overall crypto market volume increased by 30.28% to $35.35 billion in trades. The total volume of DeFi is currently $2.19 billion, representing 6% of the overall market volume, while the overall volume of all stablecoins is now $32.90 billion, slightly more. 93% of the total.
Federal Reserve PV Keeps Cryptos Down
Minutes from the Federal Reserve’s December meeting, released Wednesday, show that policymakers remain committed to tackling inflation and expect higher interest rates to remain in place until more progress is made.
Policymakers raised their benchmark interest rate by another half percentage point at the meeting and stressed the need to maintain a tight stance as long as inflation remains unacceptably low. It is therefore a not-so-pleasant decision in favor of the recovery of the cryptocurrency market.
Focus on the evolution of non-farm employment in the United States
Later today, Automatic Data Processing, Inc. will release a monthly economic indicator. It is usually released two days before the NFP report and provides the evolution of employment in the private nonfarm sector in the United Statesexcluding the public sector.
In November 2022, private companies in the United States created 127,000 jobs, the lowest figure since January 2021 and well below market expectations of 200,000. At the same time, annual compensation increased by 7.6%.
“According to the data, Fed tightening is having an effect on job creation and wage growth. In addition, companies are no longer in a state of hyper-replacement. Fewer individuals are quitting, and the post-pandemic recovery is stabilizing,” according to Nela Richardson, senior economist at ADP.
Fairly favorable non-farm payrolls data usually leads to a bearish trend in cryptocurrencies and vice versa.
Bitcoin price
The current Bitcoin price is $16,825 and the trading volume in the past 24 hours was $14 billion. Bitcoin failed to break above the $16,930 double-top resistance level, and a close below this level is likely to trigger a downside correction down to the $16,775 support zone. Over the 4 hour period, a bullish channel keeps BTC on the rise.
On the downside, a break below the $16,775 level today could exposing BTC at the $16,450 level. Keep an eye on the price of $16,775, as BTC above this level may show a buying trend and prove attractive for short-term profit.
The price of Ethereum
The current price of Ethereum is $1,250, with a 24-hour trading volume of $5 billion. The ETH/USD pair struggled to break above $1,260, and the candle closing below this level indicates a weaker uptrend.
As a result, ETH could fall to $1,245 to complete the 38.2% Fibonacci retracement, with next support likely at $1,230, which marks the 61.8% Fibonacci retracement.
On the upside, ETH’s immediate resistance is at $1,270 and an upside break above that level could drag ETH towards a course at $1,295.
Other high-profit cryptos
The global cryptocurrency market is uncertain, but a few new cryptos are making headlines. Let’s explore the possibility of taking advantage of it!
Fight Out (FGHT)
The Fight Out Platform (FGHT) works the same way as a personal sports trainer, except that the FGHT token is the reward given for exercise periods. All activities are recorded and can be used to improve the statistics of his metaverse avatar. The possibility of earn FGHT tokens adds an extra incentive for people to stay healthy and exercise while enjoying the benefits of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, Fight Out was successful and attracted investors. Thanks to its token sale, which started last week, it has already been raised over $2.6 million. The current sale price is 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT), but this will increase as the selloff progresses.
Dash 2 Trade (D2T)
Dash 2 Trade is another Ethereum-based platform that upon its launch early next year, will provide real-time analytics and social trading data. Trading signals, on-chain analytics, strategy building tools, and news feeds will be among its initial features, helping new and experienced traders follow the volatile cryptocurrency market.
The D2T token sale raised over $13.4 million and is expected to close tomorrow, providing early investors with a window of opportunity that will quickly close. On January 11, the altcoin will be listed on its first exchangewith LBANK Exchange, Changelly Pro and Bitmart confirmed as the initial trading platforms to support it.
To accommodate those who may have missed the initial investment window, the Dash 2 Trade team decided to hold a 5th step (or “overfunding round”) of the presale during which An additional 36,000,000 tokens will be sold at a price of $0.0556. to raise an additional $2,001,600.
D2T is overfunded at a price 4% higher than its previous price of $0.0533. The current fundraising total for the project is $15,421,600.
C+Load (CCHG)
C+Charge (CCHG) is a peer-to-peer payment system based on Binance Chain for electric vehicle charging stations (VE). Its aim, which should start in the second quarter of next year, is to increase access to carbon credits by rewarding consumers who charge their electric vehicles at its terminals.
The platform has already struck a deal with Perfect Solutions Turkey, which will add 20% of Turkey’s EV chargers to its network, indicating how quickly it could grow. 1 CCHG is currently sold at $0.013 and can be purchased with BNB or USDT. The presale has already raised over $71,000.
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