Bitcoin was little changed on Monday morning in Asia, holding above a four-month high of $22,000 amid a broader rally over the weekend, helped by comments from a Fed official. US Federal that backed a smaller interest rate hike at the central bank meeting at the end. This month Ether was also little changed on a mixed morning for the top 10 non-stable cryptocurrencies. Dogecoin led the gains, while Solana posted the biggest loss.
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Fast facts
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Bitcoin traded 0.2% lower at $22,722 in the 24 hours to 8 a.m. in Hong Kong, taking gains in the last calendar week to 8.8%. The world's largest cryptocurrency hit a four-month high of $23,278 on Saturday morning and is now trading above where it was before the market crash that followed the collapse of US-based cryptocurrency exchange FTX.com. Bahamas.
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Ether gained 0.1% to $1,628, up 4.9% on the week, according to CoinMarketCap data.
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Dogecoin was up 4.2% at $0.08, a gain of 2.5% on the week. The world's leading memecoin hit $0.09 overnight to a five-week high.
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Solana fell 1.6% to trade at US$24.24, but held gains of 5.9% last week. The token's gains over the weekend sent it up several places on CoinMarketCap's list of the largest cryptocurrencies by market capitalization and it now sits at number 10.
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Total 24-hour crypto market capitalization fell 1.6% to $1.03 trillion, while trading volume fell 16.1% to $52.8 billion. Total crypto market capitalization hit $1.05 trillion on Saturday, the highest since early November, or just before FTX crashed.
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US stocks rose on Friday. The Dow Jones Industrial Average gained 1%, the S&P 500 Index rose 1.9% and the Nasdaq Composite Index closed up 2.7% to post a weekly gain of 0.6% in its third straight week of gains. Profits.
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The Nasdaq was helped by the strong Netflix Inc performance. which jumped 8.5% to $342.50 on better-than-expected subscriber numbers. Alphabet Inc., the parent company of the search engine google, pink 5.3% to $98.02 after announcing that it would lay off about 12,000 employees, or about 6% of its workforce.
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US Federal Reserve Governor Christopher Waller said that, based on recent economic data, he supported raising interest rates by just 25 basis points at the next central bank meeting, in remarks prepared for delivery in the Council on Foreign Relations in New York on Friday.
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Last month, the Fed raised interest rates by 50 basis points to between 4.25% and 4.5%, the highest in 15 years. The next Federal Reserve meeting is scheduled for January 31-February 1, where CME Group analysts predict a 99.8% probability of a 25 basis point rise.
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Other major US earnings reports this week include Tesla, Microsoft and Visa. Federal Reserve members will be in a so-called lockup period before meeting to decide the next move in interest rates at the end of the month. Other US economic indicators due for release this week that may influence that decision include durable goods orders and consumer confidence.
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