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The ghost of FTX haunts the crypto industry, but Bitcoin is attempting to leave it behind as BTC price gains endure. 3911 Total views 18 Total shares Listen to article 0:00 Markets News Own this piece of history

Collect this article as an NFT Bitcoin (BTC) starts a new week at new 2023 highs, but still divides opinion after a blistering price rally.

In what is shaping up to be the antidote to last years slow bleed to lower prices, January has delivered the volatility Bitcoin bulls were hoping for but can they sustain it?

This is the key question for market participants going into the third week of the month.

Opinion remains divided on Bitcoins fundamental strength; some believe outright that the march to two-month highs is a suckers rally, while others are hoping that the good times will continue at least for the time being.

Beyond market dynamics, there is no shortage of potential catalysts waiting to assert themselves on sentiment.

United States economic data will keep coming, while corporate earnings could deliver some fresh volatility to stock markets this week.

Cointelegraph takes a look at five potential BTC price movers as all eyes focus on new support levels and the fate of the Bitcoin bear market.BTC price due consolidation, analysts agree

Bitcoin has faced increasing skepticism after passing some key resistance levels throughout the past week.

As Cointelegraph reported, the consensus remains skewed to the bearish side long term, with few believing that current momentum will end up any more than a bear market rally.

With warnings of new macro lows of $12,000 still in force, analysts are watching for signs of a comedown. So far, however, this has not materialized.

The weekly close tied with those from just before the FTX collapse, with BTC/USD still above $20,000 at the time of writing, having hit new local highs of $21,411 overnight, data from Cointelegraph Markets Pro and TradingViewshowed.

Volatility remained in action, with moves of several hundred dollars commonplace on hourly timeframes. A flash dip below the $21,000 mark was described by commentator Tedtalksmacro as a liquidity hunt.

Analyzing levels to hold in the event of a broader retracement, on-chain analytics resource, Material Indicators identified the 21-week moving average (MA) at $18,600.

Another $11M bid wall placed to defend the Bitcoin 2017 Top, it noted alongside an additional chart of the Binance order book. Holding above that level is symbolic and increases the probability of extending the rally, but IMO holding the 21-Week MA is critical for a sustained rally. TradFi is closed Monday for MLK Day. Volatility continues.BTC/USD 1-day candle chart (Bitstamp) with 21-week MA. Source: TradingView

A previous post added that whale activity was indeed helping to buoy the market on exchanges.

Eyeing the reversal of FTX losses, meanwhile, trading account Stockmoney Lizards called for a little (sideways) consolidation at current levels.

Michal van de Poppe, founder and CEO of trading firm Eight, said that Bitcoin might indeed consolidate due to changes in flagging United States dollar strength.

The U.S. Dollar Index still traded near its lowest levels since early June 2022 on the day, having hit 107.77.U.S. Dollar Index (DXY) 1-day candle chart. Source: TradingViewFocus shifts to earnings as stocks catalyst

This week will get off to a brisk start in terms of macro data, with producer price inflation data coming on Jan. 18.

This will come amid various speeches from Federal Reserve officials, while stocks will likely be swayed by another phenomenon in the form of corporate earnings reporting throughout the week.

As noted by Bank of America strategists in a note last week, the S&P 500 has become particularly sensitive to earnings reports, with their impact overtaking classic data releases such as the Consumer Price Index.

We see this as a narrative shift in the market from the Fed and inflation to earnings: reactions to earnings have been increasing, while reactions to inflation data and FOMC meetings have been getting smaller, they wrote, quoted by media outlets including CNBC.

The strategists referred to the Federal Open Market Committee (FOMC) meeting on Feb. 1 to decide on interest rate hikes.

The rate hike is currently expected to be lower than any since early 2022, with sentiment favoring a 0.25% increase, according to CME Groups FedWatch Tool.Fed target rate probabilities chart. Source: CME Group

The lower the Fed Funds, the more liquidity there is in the system, Ram Ahluwalia, CEO of digital asset investment advisor Lumida Wealth Management, wrotelast week.

An accompanying chart showed what Ahluwalia suggested was a beneficial relationship between lower Fed funds rates and Bitcoin liquidity.

He continued by referencing an appearance on mainstream media by veteran economist Larry Summers on Jan. 13, in which the latter made positive noises about inflation abating.

Larry made a statement saying the Feds fight against inflation is much, much closer to being done. This is a positive surprise to risk assets and supports the Fed pivot camp, he argued. BTC benefits from QE Hypothesis: One of the big macro desks listened and went long bitcoin.Bitcoin vs. Fed funds rate chart. Source: Ram Ahluwalia/ TwitterGBTC winning streak continues

On the topic of institutional interest recovery, another chart retracing the entirety of its FTX losses is the largest Bitcoin institutional investment vehicle, the Grayscale Bitcoin Trust (GBTC).

Data from Coinglass shows that as of Jan. 13, the latest date for which data is available, GBTC shares traded at a discount to the net asset value of 36.26%.

This discount, formerly positive and known as the GBTC premium, has been ticking higher since the end of December 2022 and is now higher than at any point since the FTX meltdown.

Its largest-ever reading came just before that, when it hit 48.62%, with GBTC suffering as part of parent company Digital Currency Groups own FTX troubles.

That controversy continues to rage, often publicly, but GBTC is delivering its most encouraging results in months.

Behind the scenes, Grayscale continues to battle U.S. regulators over their refusal to allow it to convert GBTC to an exchange-traded fund (ETF) based on the Bitcoin spot price.

In an extensive Twitter update on Jan. 13, Craig Salm, Grayscales chief legal officer, referenced the firms commitment to win its case and bring the first spot Bitcoin ETF to the market in the U.S.

To reiterate, converting GBTC to a spot Bitcoin ETF is the best long-term way for it to track the value of its BTC, he summarized. Our case is moving forward swiftly, we have strong, common sense and compelling legal arguments and were optimistic that the Court should rule in our favor.GBTC premium vs. asset holdings vs. BTC/USD chart. Source: CoinglassDifficulty hits new all-time high

If Bitcoins price recovery were not enough to get bulls excited, its network fundamentals tell a similarly encouraging story.

Roughly in step with the weekly close, network mining difficulty increased by over 10%, marking its biggest uptick since October 2022.Bitcoin network fundamentals overview (screenshot). Source: BTC.com

The move has obvious implications for Bitcoin miners and suggests that the ecosystem already benefits from higher prices.

As Cointelegraph reported, miners had already been slowing the pace of their BTC reserve sales in recent weeks. At the same time, the difficulty increase reflects competition for block subsidies returning to the sector.

Over the past week, however, miner balances have decreased in response to Bitcoins rapid price rise. They stood at 1,823,097 BTC as of Jan. 16, data from on-chain analytics firm Glassnode shows, marking one-month lows.Bitcoin miner BTC balance chart. Source: Glassnode

Despite this, miner difficulty has now erased its FTX reactions and set a new all-time high in the process.

Bitcoin is in the process of retesting the estimated average cost of production price for Miners, Glassnode additionally notd last week before most of the gains came.

It added that breaking above this level like offers much needed relief to miner incomes.

An accompanying chart showed its proprietary difficulty regression model, which it describes as an estimated all-in-sustaining cost of production for Bitcoin.Bitcoin difficulty regression model chart. Source: GlassnodeSentiment exits “fear” as whales buy big

It is no secret that the average Bitcoin hodler is experiencing some much-needed relief this month, but is it a case of unchecked euphoria?

Related:5 altcoins that could breakout if Bitcoin price stays bullish

According to the time-honored yardstick, the Crypto Fear & Greed Index, it could be too much, too soon regarding changes in the mood over Bitcoin price strength.

On Jan. 15, the Index hit its highest level since April2022.While not greedy yet, the move marks a significant change from just weeks prior.Crypto Fear & Greed Index (screenshot). Source: Alternative.me

The crypto market spent a large swathe of 2022 in its lowest extreme fear bracket.

Now, it is scoring above 50/100, dropping slightly into the new week to remain in neutral territory.

For research firm Santiment, which specializes in gauging the atmosphere around crypto markets, there is one overriding factor influencing Bitcoins newfound strength.

The answer, it wrote in a Twitter post at the weekend, lies firmly in whale activity.

Over the ten days to Jan. 15, big and small whales added to their positions, sparking a supply and demand chain reaction. In total, over that period, they purchased 209,700 BTC.

Santiment called the data a definitive explanation on why crypto prices have bounced.BTC accumulation annotated chart. Source: Santiment/ Twitter

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. #Bitcoin #Bitcoin Price #Markets #Stocks #Inflation Related News What is total value locked (TVL) in crypto and why does it matter? Can Canada stay a crypto mining hub after Manitobas moratorium? Why is the crypto market up today? 5 cryptocurrencies that could benefit from a positive CPI report Bitcoin derivatives data suggests a BTC price pump above $18K wont be easy

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Honda’s new super low-cost electric motorcycle could come at the perfect time

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Honda’s new super low-cost electric motorcycle could come at the perfect time

Earlier this week, we covered Honda’s new patent images that revealed what looks to be a production-ready, ultra-low-cost electric motorcycle from the world’s most prolific motorcycle maker. While the company hasn’t officially announced plans to bring the bike to market, the level of detail in the patent suggests one thing loud and clear: Honda’s electric commuter is no longer just a concept – it’s waiting on a green light from the boardroom. And if they’re still debating giving it the thumbs up or down, then now would be the perfect time to make everyone’s day and release this thing to the world.

To be fair, we don’t really know what the bike would look like since we only have the technical drawings in the patent that showcase an electric motorcycle built on the frame of a Honda Shine 100, the company’s smash-hit 99cc commuter bike that has proven incredibly popular in India.

The images above and below show an AI interpretation of how the electric version could look, taking the technical drawings of the bike from the patent and applying styling similar to the Shine 100. But if this is any indication, it could slot nicely into Honda’s lineup.

A perfect storm of demand and opportunity

Right now, the market is crying out for a product like this. Two-wheel electric transport is booming globally, especially in regions where motorcycles are used not for weekend rides or fun, but as core transportation for everyday life. In developing countries like India, Indonesia, and throughout Southeast Asia and Africa, affordable motorcycles are the backbone of personal mobility. And as battery prices continue to fall and gas prices remain unpredictable, electric is becoming the obvious next step.

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Even in the US, which has been one of the slowest markets in the world to adopt electric two-wheelers, there are literal roving gangs of teenagers on light electric motorcycles. If that doesn’t underscore how far electric motorcycles have penetrated, nothing will. Even Americans are buying them.

But of course, the US isn’t the main market, and Honda seems to know that. The company’s yet-unnamed electric model from its patent appears to be designed as a direct electric counterpart to the Shine 100, that wildly popular gasoline-powered commuter bike that has dominated the budget end of the market in India. The Shine 100 is known for its simple, reliable design, ultra-low price, and frugal fuel economy. Now imagine replacing the gas tank with a battery pack, swapping out the engine for a hub motor, and cutting fuel and maintenance costs almost to zero. That’s exactly what this new bike looks poised to do.

Honda patent images show a fully-developed electric version of a Shine 100 motorcycle

The specs we don’t know… yet

We don’t have confirmed specs from Honda, but the design and architecture give us some important clues. The motor appears to be a small, centrally mounted unit similar in size to those seen on Sur Ron-style electric motorbikes, likely in the 5-6 kW range, which would likely put top speed somewhere in the ballpark of 50 to 55 mph (80–90 km/h). That’s fast enough for city and suburban riding, especially in developing nations where highway use is less common and speed limits are lower.

The battery appears to be designed as a pair of removable, under-seat packs that look quite similar to the Honda Mobile Power Pack standard. We can’t say for sure yet, but it would make sense for Honda to apply that standard to the new motorcycle, especially since the company has already invested in the early stages of building up a swapping network for these batteries in India.

A Honda Mobile Power Pack-powered electric Rickshaw in India

The battery packs’ removable nature is key for markets where most riders don’t have access to ground-level charging. Removable batteries mean that the bike can be left parked on the street, with only the batteries being carried into a home or apartment for charging.

Sure, removable batteries limit the range by necessitating something light enough to be feasibly carried by the average rider. But let’s be clear: this isn’t going to be a Zero or a LiveWire. It’s a small, simple, commuter-focused machine. And that’s exactly what makes it so exciting.

A massive opportunity in plain sight

While companies like Ola, Ather, and Hero Electric have already entered India’s electric two-wheeler market, Honda still has massive brand recognition and an extensive dealership and service network. If the company moves quickly, it can leverage that footprint to immediately scale electric sales where it matters most.

And this isn’t just about India.

With a few tweaks, like ensuring compliance with region-specific lighting rules and adding a few basic safety features, Honda could easily bring a version of this bike into Europe, where cities are increasingly banning internal combustion vehicles and where small-format urban mobility is booming. Even in North America, there’s a growing appetite for affordable electric motorcycles. Sure, a 50 mph top speed limits highway use, but for many urban commuters and students, that’s more than enough. It may have scooter performance, but it sure looks cooler than a scooter.

We’ve already seen Chinese brands dipping their toes into this space, offering ultra-low-cost commuter bikes and scooters with modest specs. The difference is that those bikes are often plagued by weak support networks, sketchy build quality, and limited availability of parts. Honda could change the game here, bringing name-brand reliability and global support to the affordable electric motorcycle segment.

What’s stopping them?

And yet, despite all of its promise, the bike in these drawings remains just a patent on paper, at least for now.

It’s pretty clear from the drawings that this is a production-ready design, especially compared to much more basic designs patented by Honda in years past. The detailed component layout, integrated electronics, and finalized styling suggest that Honda could start prepping an assembly line for this thing tomorrow. All it needs is a go-ahead from Honda’s executive team.

Of course, large companies move slowly. There are internal projections to review, factories to retool, and business cases to make. But given Honda’s prior commitments to electrify its motorcycle lineup and its stated goals to phase out ICE motorcycles by the 2040s, the company needs to start moving products like this from blueprint to showroom floor yesterday.

Honda has the global reputation, the dealer network, and the engineering muscle to absolutely dominate the entry-level electric motorcycle segment. But it has to want to.

This new low-cost e-moto is exactly the kind of product that could move the needle, not just in emissions reductions or electrification goals, but in making EVs more accessible to millions of riders who need practical, affordable transportation today.

The demand is real. The market is ready. The design is done.

Now all we need is for Honda to say: “Let’s build it.”

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EU lowers price cap for Russian crude under new sanctions package

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EU lowers price cap for Russian crude under new sanctions package

Aerial view of a ship at sea.

Suriyapong Thongsawang | Moment | Getty Images

The European Union has reached an agreement on a new sanctions package against Russia, which includes a lower price cap for Moscow’s crude oil barrels.

Within a year of Russia’s 2022 invasion of Ukraine, the G7 and EU restricted the price at which non-G7 countries could continue purchasing Moscow’s crude and oil products while using shipping and logistical services from G7 companies.

The measures aimed to limit Russia’s oil revenues — the backbone of its economy and war coffers — while retaining the country’s supplies in the market to avoid a major shortage.

The price cap agreed in December 2022 banned access to G7 transport, insurance and reinsurance services if non-G7 buyers paid more than $60 per barrel for crude. Formerly a staple of European refiners’ intake, Russian crude now primarily heads to buyers in China and India.

EU policymakers on Friday signaled the Russian oil price threshold would be lowered as part of a newly agreed sanctions package.

“I welcome the agreement on our 18th sanctions package against Russia. We are striking at the heart of Russia’s war machine. Targeting its banking, energy and military-industrial sectors and including a new dynamic oil price cap,” EU Commission President Ursula von der Leyen said on social media.

The EU’s top diplomat Kaja Kallas concurred that a “lower oil price cap” was part of the freshly agreed measures, also noting that the bloc had, for the first time, sanctioned Russian oil producer Rosneft’s largest refinery in India.

Neither official explicitly named the level of the new price cap. CNBC has reached out to Canada, holder of the G7’s yearly rotating presidency in 2025, for comment on whether the group endorses the lowered threshold.

— CNBC’s Silvia Amaro contributed to this report.

This developing story is being updated.

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Thousands of super cheap Amazon & Walmart e-bikes recalled after fires

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Thousands of super cheap Amazon & Walmart e-bikes recalled after fires

VIVI e-bikes, a budget-friendly brand commonly found on Amazon and Walmart, just got hit with a major recall affecting around 24,000 electric bicycles due to fire risks. The US Consumer Product Safety Commission (CPSC) announced that the lithium-ion batteries included with VIVI e-bikes can overheat, catch fire, and potentially cause injury or death.

According to the recall notice, VIVI has received at least 14 reports of their e-bike batteries overheating, with at least three reports of the batteries catching fire, though fortunately no injuries were reported in the recall notice.

The faulty batteries were shipped with a range of VIVI electric bikes sold between December 2020 and November 2023, priced between $365 and $950.

That puts them among the cheapest full-size e-bikes on the market.

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The affected bikes include long list of VIVI models, with the complete found here and seen in the table below.

The e-bikes were most commonly available online through Walmart.com and Amazon.com, but were also sold on eBay.com, Wish.com, Sears.com, Wayfair.com, Aliexpress.com, and the company’s own site (viviebikes.com).

Riders who purchased a VIVI e-bike are encouraged to check their model immediately to see if it matches the list of recalled e-bikes or battery packs.

The problem stems from the lithium-ion battery packs, which were not certified to UL standards, which are the most common safety standards for e-bikes in the US.

Consumers are being told to stop using the bikes immediately and contact VIVI for a free replacement battery. According to the recall notice, “Consumers should immediately stop using e-bikes with the recalled lithium-ion batteries and contact VIVI to receive a free replacement battery and battery charger. Consumers must dispose of the recalled battery at a household hazardous waste (HHW) collection center or follow the instructions of their municipality and confirm that this was done by sending an email to vivirecall@163.com.”

This recall adds to growing concerns about the safety of low-cost e-bikes flooding online marketplaces. While affordability has helped e-bikes become more accessible, it’s also opened the door to corners being cut, particularly when it comes to the batteries, which are arguably the most dangerous component of any electric vehicle when poorly made.

On the other hand, the increase in UL certification in the US e-bike industry has led to higher consumer confidence among respected e-bike brands that prominently display their safety certifications. This practice has helped assuage consumers’ fears and serves as a reminder of why these safety certifications are so important.

Electrek’s Take

Here we go again – another Amazon e-bike brand that was selling what looks like a too-good-to-be-true electric bike with a questionable battery. And surprise: it catches fire.

Now I want to make sure we keep this in perspective here, because the story isn’t that e-bikes are dangerous. Even among these ultra-super-duper-extremely cheap e-bikes, there have been 14 overheating cases and three reported fires out of 24,000 e-bikes sold. So it’s not like batteries are cooking off left and right like meth labs in Arkansas here or something. But this is still a stark reminder of the risks of purchasing bargain-basement electric bikes. In fact, just a couple of weeks ago, I wrote a piece about the hidden risks of the cheapest e-bikes, and this issue was front and center.

In this case, these VIVI e-bikes are just some of the many aggressively priced models on Amazon, and that’s always a red flag when it comes to lithium-ion safety. At Electrek, we’ve said it before and we’ll keep saying it: cheap batteries are risky batteries. UL certification isn’t legally required in most places (yet), but if a company isn’t willing to invest in the most basic safety testing, it should raise alarm bells.

If you’re hunting for a budget e-bike, stick to brands that at least use name-brand cells (like Samsung, LG, or Panasonic) and ideally have UL certification. Otherwise, you’re not just gambling with performance, you’re gambling with your garage, your home, your apartment building, and potentially the lives of your family and neighbors.

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