Bitcoin had a blast during the weekend!
Problems in the crypto money industry have been going on for a long time, but bitcoin managed to spend the weekend over $21,000.
Friday's US jobs reports painted an overall picture of solid employment and bolstered key stock indicators to close the week on gains after a four-day sell-off. Markets await inflation readings to be released on Thursday.
Bitcoin had a blast during the weekend!
Despite the gloomy prospect facing the equity markets, Bitcoin saw a surge above the $21,000 threshold over the weekend and the crypto market was positively impacted. At the time of drafting the assessment, the largest cryptocurrency by market cap is consolidating just below the $21,000 level after losing 1.4% in the last 24 hours. The bullish momentum since the big break at the end of October is still in place, with Bitcoin futures open interest rising and funding rates hitting highs. Similarly, Ethereum is approaching the $1,600 level despite a 1.6% loss over the same period. MATIC took the lead with an increase of 5.3% and SOL fell 9.33% from a post-conference hangover.
Digital payments firm Circle recently announced plans to expand local support for Euro Coin and provide access to new permissionless cross-chain infrastructures in Solana in the first half of 2023. The Cross-Chain Transfer Protocol was designed to allow crypto projects to transfer USDC between different blockchains.
Bitcoin continues to cling to the $20,000 threshold after FEDMoney
