On January 9, 2023, Bitcoin traded within the range of 16912-17251. As of the time of this writing, its value is 17204. The total market capitalization is 847 billion, with a domination index of 39.1% and a fear index of 25. The stock market opened with growth, with the S&P 500 futures above 3900, the dollar index at 103.37, and gold reaching highs above 1882. Asian indexes are also seeing growth. In China, all coronavirus-related restrictions have been lifted.
The most significant day for the market this week will be January 12, when US inflation data is released. The forecast of 6.5% may not be accurate due to the PPI (a leading indicator) falling short of predictions last month. Pre-holiday price increases in retail and rising gas prices due to cold weather are also contributing to inflation. However, the calculation method may present favorable results if the computer component and car prices are considered deflationary. Inflation greatly affects the growth prospects of companies and, if the forecast is not met, the market may decline.
A significant event for the cryptocurrency market this week is the listing of Coinbase on the NASDAQ on Wednesday, which is likely to garner a lot of attention from both retail and institutional investors. The exchange rate may also be impacted by the arrest of Pavel Durov, the founder of the TON project and Telegram messenger.
Oil prices continue to rise, reaching a maximum of 57.66. The market is anticipating the OPEC+ meeting on January 4, where it is expected that production will be increased by 500,000 barrels per day. It's worth noting that rising oil prices have a positive effect on the Russian stock market.
This week's market is expected to be volatile due to the release of important macroeconomic data and events in the cryptocurrency market.
The most significant day for the market this week will be January 12, when US inflation data is released. The forecast of 6.5% may not be accurate due to the PPI (a leading indicator) falling short of predictions last month. Pre-holiday price increases in retail and rising gas prices due to cold weather are also contributing to inflation. However, the calculation method may present favorable results if the computer component and car prices are considered deflationary. Inflation greatly affects the growth prospects of companies and, if the forecast is not met, the market may decline.
A significant event for the cryptocurrency market this week is the listing of Coinbase on the NASDAQ on Wednesday, which is likely to garner a lot of attention from both retail and institutional investors. The exchange rate may also be impacted by the arrest of Pavel Durov, the founder of the TON project and Telegram messenger.
Oil prices continue to rise, reaching a maximum of 57.66. The market is anticipating the OPEC+ meeting on January 4, where it is expected that production will be increased by 500,000 barrels per day. It's worth noting that rising oil prices have a positive effect on the Russian stock market.
This week's market is expected to be volatile due to the release of important macroeconomic data and events in the cryptocurrency market.