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Crypto Market Daily Highlights: DOGE and SOL Lead Top Ten South
The cryptocurrency market saw another gloomy session on Sunday. Test purchasers are now facing headwinds from Fed anxiety and heightened regulatory scrutiny.
The top ten cryptocurrency index had a gloomy session on Sunday. Leading the way down were DOGE and SOL. BTC dropped below $23,000 at day's conclusion for the first time in five sessions.
There were no crypto-related developments to cause BTC and the larger crypto market to decline for a second session in a row. The US Jobs Report and ISM Non-Manufacturing PMI survey from Friday resonated due to the absence of updates from FTX, Genesis, and Silvergate Bank.
The United States will likely escape a recession, according to the most recent economic statistics.
However, the Fed has flexibility to deliver an aggressive interest rate boost in March after the unemployment rate dropped to 3.4%. Investor focus will now be on the January CPI Report and remarks from FOMC members.
There are currently no US economic data to take into account for investors. The NASDAQ Composite Index and FMOC member talk will have the most impact because to the absence of statistics. Investors must keep an eye on the cryptocurrency news wires for developments on FTX, Genesis, and Silvergate Bank. Additionally, regulatory chitchat will provide guidance.
The NASDAQ mini had an impact in the last hour after Friday's NASDAQ defeat (UTC). This morning, the NASDAQ mini was down 35.25 points.
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