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Bitcoin BTC/USD fell almost 6% lower Friday morning in tandem with the general market after the Bureau of Economic Analysis reported a 5.4% increase in the personal consumption expenditures (PCE) price index in the month of January.

The number came in well above the 4.9% estimate and above the 5.3% gain in December. The newest data shows inflation remains hot, although down from the 7% reading in June 2022. The higher-than-expected PCE data indicates the Federal Reserve may need to do more to hamper stubborn inflation, which could include steeper and additional rate hikes than what was previously expected.

Ethereum ETH/USD fell 4.55% before bouncing up slightly, while Dogecoin DOGE/USD struggled to rebound from its 5.21% early session loss.

The drop confirmed all three cryptos remain in downtrends, with all printing lower lows on Friday.

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The Bitcoin,Ethereum Charts: Bitcoin and Ethereum entered into downtrends over the second half of this month after enjoying large bullish runs to start 2023. Bitcoins most recent lower high was formed on Thursday at $24,600 and the most recent confirmed lower low was printed at the $23.581 mark the day prior. Ethereums most recent confirmed lower low was created on Wednesday at $1,594 and the most recent lower high was formed at the $1,679 mark on Thursday.

During Fridays 24-hour trading session, Bitcoin and Ethereum were working to print hammer candlesticks on the daily chart, with long lower wicks. Hammer candlesticks, when found in a downtrend, can indicate the next lower low is in and the stock or crypto will trade higher the following trading day.

The second most likely scenario is that Bitcoin and Ethereum will trade sideways to consolidate Fridays sharp decrease. If that happens, traders can watch for the cryptos to print a possible inside bar pattern, or a series of inside bars over the weekend.

Bitcoin has resistance above at $24,206 and $25,288 and support below at $22,719 and $21,313.

Ethereum has resistance above at $1,717 and $1,957 and support below at $1,564 and $1,421.

The Dogecoin Chart: Unlike Bitcoin and Ethereum, Dogecoin was struggling to bounce up from the low-of-day, which may cause the crypto to print a bearish Marubozu candestick. If that happens, Dogecoin could continue to fall lower on Saturday, or like Bitcoin and Ethereum, the crypto could print an inside bar to consolidate.

Dogecoinis trading in a downtrend, with the most recent lower high formed on Wednesday at $0.089 and the most recent confirmed lower low printed at the $0.082 level on that same day. The drop on Friday caused Dogecoin to break down bearishly from a triangle formation, which may spook bullish investors.

If Dogecoin continues to slide over the weekend, the crypto may find support at the 200-day simple moving average and reverse course off that level.

Dogecoin has resistance above at $0.083 and $0.091 and support below at $0.075 and at 7 cents.

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Photo via Shutterstock.

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Ukrainian frontline commander warns: ‘The world is scared of Russia and losing is not only our problem’

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Ukrainian frontline commander warns: 'The world is scared of Russia and losing is not only our problem'

In the courtyard of a farmhouse now home to soldiers of the Ukrainian army’s 47th mechanised brigade, I’m introduced to a weary-looking unit by their commander Captain Oleksandr “Sasha” Shyrshyn.

We are about 10km from the border with Russia, and beyond it lies the Kursk region Ukraine invaded in the summer – and where this battalion is now fighting.

The 47th is a crack fighting assault unit.

They’ve been brought to this area from the fierce battles in the country’s eastern Donbas region to bolster Ukrainian forces already here.

War latest: Russia ready to carry out ‘massive attack’

The captain known by his men as 'Genius'
Image:
The captain known by his men as ‘Genius’

In the summer, Ukraine launched an incursion into Russian territory, in Kursk
Image:
In the summer, Ukraine launched an incursion into Russian territory, in Kursk

Captain Shyrshyn explains that among the many shortages the military has to deal with, the lack of infantry is becoming a critical problem.

Sasha is just 30 years old, but he is worldly-wise. He used to run an organisation helping children in the country’s east before donning his uniform and going to war.

He is famous in Ukraine and is regarded as one of the country’s top field commanders, who isn’t afraid to express his views on the war and how it’s being waged.

His nom de guerre is ‘Genius’, a nickname given to him by his men.

Captain Sasha Shyrshyn and Sky News chief correspondent Stuart Ramsay
Image:
Captain Sasha Shyrshyn and Sky News chief correspondent Stuart Ramsay

‘Don’t worry, it’s not a minefield’

Sasha invited me to see one of the American Bradley fighting vehicles his unit uses.

We walk down a muddy lane before he says it’s best to go cross-country.

“We can go that way, don’t worry it’s not a minefield,” he jokes.

He leads us across a muddy field and into a forest where the vehicle is hidden from Russian surveillance drones that try to hunt both American vehicles and commanders.

Sasha shows me a picture of the house they had been staying in only days before – it was now completely destroyed after a missile strike.

Fortunately, neither he, nor any of his men, were there at the time.

“They target commanders,” he says with a smirk.

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‘The world is scared of Russia’

It takes me a moment or two to realise we are only a few steps away from the Bradley, dug in and well hidden beneath the trees.

The disguised American Bradley vehicle hidden in the forest
Image:
The disguised American Bradley vehicle hidden in the forest

Sasha tells me the Bradley is the finest vehicle he has ever used.

A vehicle so good, he says, it’s keeping the Ukrainian army going in the face of Russia’s overwhelming numbers of soldiers.

He explains: “Almost all our work on the battlefield is cooperation infantry with the Bradley. So we use it for evacuations, for moving people from one place to another, as well as for fire-covering.

“This vehicle is very safe and has very good characteristics.”

The American Bradley fighting vehicle that Ukrainian soldiers have found vital in their efforts
Image:
The American Bradley fighting vehicle that Ukrainian soldiers have found vital in their efforts

Billions of dollars in military aid has been given to Ukraine by the United States, and this vehicle is one of the most valuable assets the US has provided.

Ukraine is running low on men to fight, and the weaponry it has is not enough, especially if it can’t fire long-range missiles into Russia itself – which it is currently not allowed to do.

If President-elect Donald Trump cuts the supply of military aid, the Ukrainians will lose – it’s that simple.

U.S. President-elect Donald Trump gestures as he meets with House Republicans on Capitol Hill in Washington, U.S., November 13, 2024. REUTERS/Brian Snyder
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US President-elect Donald Trump has been clear he intends to change his nation’s policy on the war in Ukraine. Pic: Reuters

Sasha says: “We have a lack of weapons, we have a lack of artillery, we have a lack of infantry, and as the world doesn’t care about justice, and they don’t want to finish the war by our win, they are afraid of Russia.

“I’m sorry but they’re scared, they’re scared, and it’s not the right way.”

Like pretty much everyone in Ukraine, Sasha is waiting to see what the US election result will mean for his country.

He is sceptical about a deal with Russia.

“Our enemy only understands the language of power. And you cannot finish the war in 24 hours, or during the year without hard decisions, without a fight, so it’s impossible. It’s just talking without results,” he tells me.

Read more from Stuart Ramsay:
How Ukrainian units are downing Russia’s drones
Heartbreaking final moments of girl who tried to flee Gaza
Inside a brutal and deadly Mexican gang war

‘Losing will be not only our problem’

These men expect the fierce battles inside Kursk to intensify in the coming days.

Indeed, alongside the main supply route into Kursk, workers are already building new defensive positions – unfurling miles of razor wire and digging bunkers for the Ukrainian army if it finds itself in retreat.

Barbed wire rolled out in the Sumy region ahead of expected fighting
Image:
Barbed wire rolled out in the Sumy region ahead of expected fighting

Tank traps in the Sumy region
Image:
Tank traps in the Sumy region

Sasha and his men are realistic about support fatigue from the outside world but will keep fighting to the last if they have to.

“I understand this is only our problem, it’s only our issue, and we have to fight this battle, like we have to defend ourselves, it’s our responsibility,” Sasha said.

But he points out everyone should realise just how critical this moment in time is.

“If we look at it widely, we have to understand that us losing will be not only our problem, but it will be for all the world.”

Stuart Ramsay reports from northeastern Ukraine with camera operator Toby Nash, and producers Dominique Van Heerden, Azad Safarov, and Nick Davenport.

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Spain flooding: New weather warnings issued – as country counts flooding cost

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Spain flooding: New weather warnings issued - as country counts flooding cost

A weather warning has been issued for parts of Spain, as the country counts the cost of recent flooding.

The orange warnings are in place for parts of southwestern Spain – the area around Seville down towards Gibraltar.

Up to 8cm (3ins) of rain could fall within 12 hours, but the weekend looks much more settled in the country.

The latest warnings come just two weeks after flash flooding in Valencia and other parts of the country killed more than 200 people.

Malaga saw 14.2cm (5.6ins) of rainfall on Wednesday – Spain’s highest of the day – most of which fell in six hours.

All train services were halted in Malaga. Some flights have now resumed after the initial disruption.

Floods in central Malaga, Spain. Pic: Jamie Marchant
Image:
Pic: Jamie Marchant

Emergency services in the province have moved 3,000 people from homes at risk of flooding close to the Guadalhorce River in the west of the city.

Jamie Marchant, 29, from Caerphilly in South Wales travelled to Malaga last Wednesday.

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He told Sky News that “debris” had been left behind by the recent rainfall in the region.

“Everyone is pitching in to clean up and some shops are opening as usual,” he added.

Orange warnings for the Valencia region in eastern Spain expired earlier on Thursday.

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The adverse weather could lead to total insured losses of more than €4bn (£3.33bn), according to credit rating agency Morningstar DBRS.

Much of the claims are expected to be covered by the Spanish government’s insurance pool, the agency said, but insurance premiums are likely to increase.

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Man suspected of supplying small boats for Channel migrant crossings arrested at Amsterdam airport

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Man suspected of supplying small boats for Channel migrant crossings arrested at Amsterdam airport

A man accused of being a major supplier of the boats and engines used by cross-Channel people smugglers to bring migrants to the UK has been arrested.

The Turkish national, 44, was held at Amsterdam’s Schiphol Airport on Wednesday and faces extradition to Belgium to face human smuggling charges, the National Crime Agency (NCA) said.

He is suspected of supplying the engines and boats used by traffickers to bring migrants across the Channel.

The equipment was shipped from Turkey and stored in Germany before being brought to northern France when needed.

NCA director general Rob Jones hailed the arrest as an “important milestone” in one of its most “significant investigations into organised immigration crime”.

“We suspect that this individual is a major supplier of boats and engines to the smugglers operating in Belgium and northern France,” he said.

“The types of vessels and engines we see used in making these crossings are highly dangerous and completely unfit for open water.

“At least 50 people are known to have died this year as a result. There is no legitimate use for them.”

More than 32,000 migrants have arrived in the UK so far this year after crossing the Channel.

Prime Minister Sir Keir Starmer described the arrest as a “significant piece of the jigsaw” in tackling Channel crossings, but added: “I’m not pretending it’s the silver bullet.”

He vowed the government would “treat people smugglers like terrorists” as he announced an extra £75m for his border security command during a speech at the Interpol general assembly in Glasgow last week.

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Home Secretary Yvette Cooper said: “We will relentlessly pursue the criminal smuggling gangs making millions out of small boat crossings that undermine our border security and put lives at risk.

“This major investigation shows how important it is for our crime fighting agencies to be working hand in glove with our international partners to get results.”

Read more from Sky News:
Call for dog-free areas in Wales to tackle racism
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The NCA said it is leading around 70 ongoing investigations into networks or people “in the top tier” of organised immigration crime or people trafficking and stressed the importance of working with its counterparts in Europe.

A spokesperson for the public prosecutor’s office of West Flanders said: “International cooperation is crucial in the fight against human smuggling, and the arrest of this suspect through close cooperation with our UK and Dutch partners demonstrates our ongoing commitment to partnership working.

“Human smuggling criminals do not respect national borders, and we will relentlessly pursue these criminals through working internationally.”

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