Communication Services Sector on resistance level 60
Communication Services Sector on resistance level 60 Will Communication Services Sector (XLC US) break resistance level 60 ? Source : Bloomberg
No More Impairment Charges: FASB Weighs Crypto Accounting Standards
The Financial Accounting Standards Board (FASB) is gathering feedback on long-awaited proposed changes to how companies report crypto holdings. According to the FASB, the existing accounting treatment of crypto as indefinite-lived intangible assets fails to offer investors informative data for decision-making purposes. As a result, companies must evaluate the worth of their crypto on an annual basis and make a downward adjustment if the value falls below the purchase price — commonly reported as impairment charges, such as the ones posted by Tesla and MicroStrategy. Source: blockworks
Amazon (AMZN) just reached strong resistance level 114.
Can it break ?
Bitcoin addresses holding 1 BTC or more reach one million
The number of Bitcoin BTC wallet addresses holding one whole BTC or more has surpassed the one million mark. The one million wholecoiner milestone was reached on May 13, according to data from Glassnode. In total, a whopping 190,000 or so “wholecoiners” were added from early February 2022 as the price of Bitcoin fell from its November 2021 highs. Source: Coin Telegraph
Treasuries reaction to debt ceiling result will be noisy
One look at the recent price compression for 2-year Treasury futures and its clear that bond traders have a lot resting on the outcome from the debt ceiling talks.
If a deal is reached -> Fed speakers become the key for direction
No deal -> The X-date comes into play
Source: Bloomberg
Lumber futures are at their lowest levels since May 2020, down 81% from the peak in May 2021
Source: Charlie Bilello
The global asset landscape
The global asset landscape (as of 1/1/2023) by JESSE MYERS
‘Ancient’ Bitcoin Changes Wallets After 12 Years Dormant
Asleep for ages, more sats wake from years of slumber. Bitcoin bought in 2011 came back to life on Thursday, when 139 Bitcoin belonging to address 1H1Ab6 moved into a newly created Segwit address. The owner—who hodled for nearly twelve years–bought the coins in June 2011 for a bit over $2,250 dollars, only to see them grow into a staggering $3.5 million at bitcoin’s current price mark. These coins belong to what’s known as Ancient Supply, which refers to Bitcoin purchased at least 7 years ago, although some analysts use 5 years as their base date. So far this year, over 3,000 BTC from Ancient Supply has returned to life. Source: Decrypt
