Crypto-Market Weekly Updates and Sentiment

Related Topics


It’s the calm before the storm in the crypto world, as market participants have their breath held, anticipating the release of the CPI report later today. The stock market took a beating amid these fears, but the crypto-verse has proven to be far more resilient. BTC has hardly changed throughout this week, maintaining a steady level below the $20,000 mark. The CPI report will be a make-or-break moment for the tense market. In this weekly Stocks Telegraph briefing, we go over the top stories in the market.

Highlights of the week

  • Jamie Dimon, the CEO of the investment giant JPMorgan, issued a warning that the U.S. may enter a recession in as early as six months. The CEO emphasized that this was serious business and noted that the stock market might easily decline by another 20%. Such an event could lead to shifting dynamics which could be significant for the world of digital currencies.
  • The extensive Markets in Crypto Assets (MiCA) regulation has officially been endorsed in the most recent EU anti-money laundering campaign. The committee has called for a swift implementation of regulations for tracing digital asset transfer. The news brings a new milestone toward the normalization and acceptance of cryptocurrencies in the advanced EU economy under sustainable oversight.
  • According to an official release, Argentina saw a record number of interoperable QR payments in the month of September, amounting to 3.15 million transactions. The payment system is essentially a mechanism that enables all digital wallets in Argentina to process purchases with various vendors in the country. The payments include those made using cryptocurrencies that are already available in Argentina through exchanges such as Bitso.
  • In what comes as a major breakthrough in Web3 innovation, the tech giant Google has announced a strategic partnership with Coinbase. This established cooperation comes between Google’s ‘Cloud’ division and the crypto-exchange and would work to enable the acceptance of crypto-payments. In an issued statement, Coinbase CEO Brian Armstrong said that he was thrilled that his company was selected by Google for this venture, empowering developers substantially.
  • With the national budget planning underway for the upcoming fiscal year, Portuguese government officials have revealed in an early draft, plans to tax short-term cryptocurrency gains, by as much as 28%. The paper, which still requires legislative approval, marks a shift in the European country’s relaxed stance on crypto-investments.

Crypto fear & greed index

The tension surrounding the cryptocurrency market seems almost palpable, with traders collectively on edge regarding the next shift that cryptocurrency prices will take. During such high stake situations, undertaking a sentimental analysis of the wider market allows for clarity to come about, which can help in predicting upcoming trends.

The crypto fear and greed index currently stands at a figure of 20, which is the extreme fear zone. In the last three months, the market found itself lying in the 20-point zone numerous times but never falling below it. This indicates that this figure is proving to be a resistance point that market sentiment is facing. Despite this extreme fear, the market is hellbent on its resilience, not letting sentiment fall to its mid-July levels of beneath 20. The release of the CPI report later today, however, could act as a major catalyst point, which would either see sentiment take off, or plummet further to untraversed new lows.

Leave a Comment

Your email address will not be published. Required fields are marked *


Crypto News & Market Sentiment

The crypto market seems to be moving fully towards the road to recovery, as US economic data on inflation proved to be better than expected.


Crypto News and Market Sentiment

The much-awaited interest rate hike by the US Federal Reserve had finally come to pass, with interest rates being raised by 75 basis points earlier

Crypto-Market Weekly News

After several tumultuous weeks, the cryptocurrency market is finally showing signs that indicate stability, to a large degree. The total crypto market cap presently exceeds


Latest Posts