Despite the dollar-doomers and those who think the US is about to break into 50 pieces, treasury bills remain in demand – not even gold can usurp them. Good luck to bitcoin; BTC passes 2022 yearly break-even point. thesamreynods and JPRubin23 report
by the El Salvadorian government, but by LaGeo, a subsidiary of the state-owned electricity company CEL. El Salvador says this is only a technicality; it’s still a debt of the sovereign.
With all the complications involved and bitcoin’s fragile price, this has been a terrible sales pitch for other nations. The reality is, data suggests nations don't really want anything aside from what they already have: low-yielding but safe Treasury bills, and some gold. Even China, which always threatens to dump its holdings, keeps aNayib Bukele’s plan to create an alternative to state-level financing, bypassing the IMF via bitcoin, isn’t without its merits.
at $46,000, although stronger resistance at the 200-day moving average, which is now at $48,289, could stall the relief rally. The relative strength index on the daily chart is approaching overbought territory, similar to what occurred in October, which preceded a sell-off. This time, however, buyers appear to be targeting a 50% reversal of the four-month-long downtrend, which would yield additional upside toward $50,966.
Momentum signals on the weekly chart have significantly improved, which was previously seen at around the July low of $29,400. Still, momentum remains negative on the monthly chart, which could delay a significant price rally in the short term.2:45 p.m. HKT/SGT: France consumer confidence 9 p.m. HKT/SGT : Speech by New York Federal Reserve President John Williams
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