February 23, 2024

In today’s headline TV CryptoDaily news:

(embed) https://www.youtube.com/watch?v=YZHqc-dxGG0 (/embed)

UK tax authority proposes changes to how DeFi lending, pledges are handled

According to the latest announcement, the U.K. tax authority is seeking public comment on proposed changes to the tax treatment of decentralized finance lending and staking.

Bitcoin volatility hits bulls and bears

Bitcoin’s sudden volatility affected both long and short futures traders as $175 million worth of positions were liquidated and $1 billion in open interest was effectively wiped out within 24 hours.

XRP in market trouble

Since late March, the Ripple price has exhibited rather volatile price action. This comes amid the woes of its case against the SEC, a class action alleging that Ripple Labs was involved in an illegal securities offering of the XRP token.

BTC/USD surged 4.3% in the last session.

Bitcoin was up 4.3% in the previous session after gaining 5.1% intraday against the dollar. Stochastic is sending a positive signal, which is in line with our overall technical analysis. The support level is at 25809.6667 and the resistance level is at 31339.6667.

Stochastic is sending a positive signal.

ETH/USD surged 3.0% in the last session.

The Ethereum-USD pair surged 3.0% in the last session. Stochastic is giving a negative signal. Support is at 1704.7567 and resistance is at 2044.1367.

Stochastic is giving a negative signal.

XRP/USD surged 1.2% in the last session.

The Ripple-Dollar pair surged 1.2% in the last session. The Ultimate Oscillator is sending a positive signal. Support is at 0.4116 and resistance is at 0.5083.

The Ultimate Oscillator is currently in the positive zone.

LTC/USD surged 2.1% in the last session.

The Litecoin-Dollar pair surged 2.1% in the last session. The ROC sent negative signals. Support is at 79.5733 and resistance is at 98.2333.

The ROC sent negative signals.

Daily Economic Calendar:

German Unemployment Rate

The unemployment rate measures the percentage of the country’s unemployed population. A high percentage indicates a weak labor market. Germany’s unemployment rate is due at 07:55GMT, the Bank of Japan’s monetary policy statement is due at 03:00GMT and Australia’s producer price index is due at 01:30GMT.

JP Bank of Japan Monetary Policy Statement

The Monetary Policy Statement is issued by the Bank of Japan Policy Committee. The statement provided clues to future changes in monetary policy.

Australian Producer Price Index

The producer price index measures the average price change in the primary market for commodity producers in all states of processing.

US personal income

Personal income measures the total income an individual receives from all sources, including wages and salaries, interest, dividends, rent, workers’ compensation, owner income, and transfer payments. US personal income is due at 12:30GMT, US personal spending is at 12:30GMT and UK CFTC GBP NC net positions are at 19:30GMT.

U.S. personal consumption

Personal expenditures measure purchases of goods and services by households and nonprofit institutions serving households from the private sector.

UK CFTC GBP NC Net Position

The weekly Position of Traders (COT) report provides information on the size and direction of positions held. The report focuses on speculative positions.

Disclaimer: This article is for informational purposes only. It does not provide or be intended to be used as legal, tax, investment, financial or other advice.