The process, which started with the Binance case this week, when the macro agenda was calm, continues with the comparisons made by Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), to the crypto market. Gensler said yesterday that regulation is needed in the crypto market, saying that people are investing their money in crypto, which are speculative and risky assets. He then compared the crypto market to the “Wild West”. Looking at the crypto market, it seems unaffected by the speeches of many officials, including the Binance case. So much so that this morning, Bitcoin tested $ 29,180 and exceeded $ 29,000 for the first time in 2023. At the time of this writing, Bitcoin is volatile at $28,700, while Ethereum is at $1,800. A mixed outlook prevails in altcoins.
Cryptocurrency scam is growing
In addition, the statements of the Fed Vice President for Financial Institutions, Barr, had a positive impact on the markets. He stated that steps will be taken to strengthen the banking system in order to prevent possible bankruptcies in the coming period. Looking at the global markets, we left behind a day in which the risk appetite increased, and the positive trend in futures indices continues this morning. With the total value of the crypto market recovering around 0.50%, it is moving at the level of $1.15 trillion above the psychological resistance of $1 trillion. Bitcoin's dominance is 47.9%, while Ethereum's dominance is at 19%. While SXP ranks first with 60% gains today, PORTO, STRAX and C98 stand out as the most rising cryptocurrencies in Bitay with double-digit gains.
Today, on the macro agenda, we will have the US's fourth quarter growth data, core personal consumption expenditures data and unemployment benefits applications data on our radar. There will also be speeches by FOMC Member Thomas Barkin and Treasury Secretary Yellen in the evening.