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JPMorgan sees ‘very little’ demand for crypto as payment tool.
Demand for cryptocurrencies as a payment method has drastically declined over the past six months, according to Takis Georgakopoulos, global head of payments at JPMorgan Chase & Co.
Wintermute loses $160 million to hacker.
Wintermute, one of the most prominent market makers in the cryptocurrency industry, has been hacked. A cybercriminal stole approximately $160 million in various tokens from the company, according to Wintermute’s CEO. However, the company claims it is solvent and still holds twice as much equity as the amount that was stolen.
Ethereum Classic’s market value drops to a two-month-low.
The bearish market conditions impacted Ethereum Classic’s consolidated recovery, resulting in a crash. ETC’s declining market value, along with the rising volatility, could result in steeper drawdowns.
BTC/USD plummeted 2.8% in the last session.
The Bitcoin-Dollar pair plummeted 2.8% in the last session. According to the Stochastic-RSI, we are in an oversold market. Support is at 17816.1721 and resistance is at 20548.1721.
The Stochastic-RSI points to an oversold market.
ETH/USD dove 2.3% in the last session.
The Ethereum-Dollar pair plummeted 2.3% in the last session. According to the Stochastic-RSI, we are in an oversold market. Support is at 1244.0133 and resistance is at 1457.4733.
The Stochastic-RSI points to an oversold market.
XRP/USD skyrocketed 5.7% in the last session.
The Ripple-Dollar pair exploded 5.7% in the last session. The Ultimate Oscillator’s positive signal is in line with the overall technical analysis. Support is at 0.3199 and resistance is at 0.4253.
The Ultimate Oscillator is giving a positive signal.
LTC/USD plummeted 1.2% in the last session.
The Litecoin-Dollar pair dove 1.2% in the last session. According to the CCI, we are in an oversold market. Support is at 48.731 and resistance is at 55.791.
The CCI points to an oversold market.
Daily Economic Calendar:
US Fed Interest Rate Decision
The Federal Reserve announces the Fed Interest Rate Decision. The interest rates are a key mechanism through which the central bank influences inflation. The US Fed Interest Rate Decision will be released at 18:00 GMT, the Dutch Consumer Spending Volume at 04:30 GMT, Germany’s 10-y Bond Auction at 09:30 GMT.
NL Consumer Spending Volume
Consumer Spending is an indicator that measures the total expenditure by individuals. The level of spending can be used as an indicator of consumer optimism.
DE 10-y Bond Auction
The auction sets the average yield on the bonds auctioned off. Bond market investors set yields, which can be used to estimate investors’ outlook on future interest rates.
NL Consumer Confidence Adj
The Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer sentiment is bullish for the overall economy. The Dutch Consumer Confidence Adj will be released at 04:30 GMT, the UK’s Public Sector Net Borrowing at 06:00 GMT, the US FOMC Press Conference at 18:30 GMT.
UK Public Sector Net Borrowing
The Net Borrowing captures the amount of new debt held by the U.K. governments, i.e., the financial deficit in the UK national accounts.
US FOMC Press Conference
The Federal Open Market Committee press conference is held to communicate the monetary policy and has an open question section.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2022/09/wintermute-hacked-for-160-m-crypto-daily-tv-21092022