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## TL; DR

🥂 Good morning, today is **Thursday, Jan. 12, 2023.** It’s going to be another great day. Let’s get after it relentlessly.

**Macro:** Asian markets are poised for growth due to possibility of softening US inflation and investors are also awaiting Chinese CPI and PPI data ahead of US CPI release. Meanwhile, suspicious activity in Treasury futures market seen before official data release, although the causes of this spike in activity is unclear and regulators have not announced any investigations. On the other hand, the technology sector is expected to lead gains among US shares which will directly affect crypto.

**Crypto:** Total crypto market cap rose 2.67% to $838.39B, per tradingview data. BTC and ETH led the charge on Wednesday along with the top 3 gainers being Avalanche (AVAX) +28.96%, Ripple (XRP) +6.90%, Cosmos (ATOM) +5.06%. Nasdaq index led gains among top 3 US indices but mining stocks mixed except for Greenridge Energy (GREE) which continued its ascent at a total of +50%.

****Topic of the Day:**** Avalanche Network Takes Flight: Ava Labs partners with AWS for Seamless Node Deployment

**Notable Headlines:** FTX located $5 billion in cash and assets, an attorney for the company announced in a bankruptcy hearing; A Game of Thrones NFT collection sold out quickly, but some buyers did not receive their NFTs; Bitvavo rejected Digital Currency Group's offer to repay a portion of a loan Genesis Global holds on the exchange funds…

## Macro at a Glance: Markets Brace for Thrilling Ride as Investors Eye Softening US Inflation and Await CPI Release

Asian markets are gearing up for a thrilling ride as investors are ready to take a leap of faith with their investments, thanks to the tantalizing possibility of a further softening of US inflation. The Australian stock market opened on a high note, while futures for Hong Kong and Japan rose steadily, reflecting the enthusiasm of investors. And just like in Wall Street, the bonds of Australia and New Zealand are also seeing a surge in demand. All this, despite the constant chatter of hawkish comments from Federal Reserve officials, the looming threat of a recession, and the expected drop in earnings.

As the world eagerly awaits the latest Consumer Price Index (CPI) reading, traders all over the world are biting their nails with anticipation. This time, they have an added reason to be on the edge of their seats. The release of the December CPI, a crucial indicator of inflation, led to some suspicious activity in the Treasury futures market, leaving many wondering if someone had an inside scoop. As the clock ticked down to the 1:30 PM UTC release, the trading volume of Treasury futures skyrocketed, reaching three times the average seen in the minutes leading up to the release of the last 24 CPI reports.

It's anyone's guess as to what caused this spike in activity. Some speculate that it was caused by a hack or leak, adding fuel to the fire of conspiracy theories. The Labor Department conducted an initial investigation and dismissed the possibility of a data leak, and there's no indication that regulators such as the Commodity Futures Trading Commission or Securities and wheth Commission are currently looking into the matter. But it's clear that something out of the ordinary occurred, leaving many traders wondering if they missed out on an opportunity.

Meanwhile, the technology sector, which took a hit during the Fed's tightening campaign, is expected to lead the charge in gains among US shares. The spotlight will be on core inflation, the indicator that excludes food and energy, considered to be a more accurate measure. A projected increase of 5.7% is significant, as it is above the Fed's goal, but it also suggests a slowdown in year-over-year price growth.

For investors in the Asia Pacific region, there is a double treat as they also await Chinese consumer price and produce price data (1:30 AM UTC). The lingering effects of the Covid-19 pandemic are expected to have kept inflation in check last month, with the consensus forecast for CPI to accelerate to 1.8% from 1.6% in November.

As the world economy slowly but surely recovers, this is shaping up to be an exciting time for the world of finance. Some experts believe, that the October 12th of the S&P 500 was the end of the bear market, and the market is now in a Bull Run. Though, some investment firms like Pacific Investment Management Co. are suggesting keeping an eye on bonds as well, as the economic downturn looks likely in 2023.

The CPI will be a key determinant of whether Fed officials raise interest rates by a half percentage point for the second straight meeting or lower them to a quarter point. This release will be closely watched to see if it can answer the questions and restore trust in the financial markets.

💡 **Today's Markets at Jan. 12 00:00 UTC**

**BTC** +2.82% at $17,935; **Ether** +4.17% at $1,389

**Asia: Australia** +0.86%**; Japan** +0.24%; **Hong Kong** +0.49%; **China** -0.24%; **India** -0.10%.

**Europe:** **London** +0.54%; **Paris** +0.80%; **Frankfurt** +1.17%.

**US Spot Indices:** **Dow** +0.80%; **S&P** +1.28%; **Nasdaq** +1.76%.

**US Index Futures: Dow** -0.07%; **S&P** -0.06%; **Nasdaq** -0.04%.

**US Two-year Treasury** down 2bps at 4.220%.

**US Ten-year Treasury** down 7bps at 3.543%.

**UK Ten-year Gilt Bond** down 15bp at 3.405%.

**[US Dollar](https://www.gate.io/trade/USD_USDT) Index** -0.08% at 102.80.

**FX in 24hrs:** GBP: +0.10%; EUR: +0.32%; JPY: +0.32%; CNY: +0.10%.

**Gold** unchanged at 1,876; **Light** **Crude** +3.52% at 77.69.

🧠 **Catalysts this week**

**Monday:** France Balance of Trade, EU Unemployment Rate

**Tuesday:** Turkey Unemployment Rate, US Fed Chair Powell Speech

**Wednesday:** Australia CPI, Italy Retail Sales, US MBA 30-Year Mortgage Rate

**Thursday** ⭐️: ****Australia Balance of Trade, China Inflation Rate, US Inflation Rate

**Friday** ⭐️: China Balance of Trade, UK GDP, Germany GDP, US Michigan Consumer Sentiment


## Crypto Daily Digest: Crypto Market Exploded in Gains Led by [Bitcoin](https://www.gate.io/trade/BTC_USDT) and Ether, Tech Stocks Continued to Lead Gains in TradFi

Among the top 20 coins, [Bitcoin](https://www.gate.io/trade/BTC_USDT) (BTC) saw a whopping increase of 3.05% to reach $17,959, while Ether (ETH) also exploded in gains by 4.35% to $1,392. The total crypto market cap rose 2.67% to $838.39B from $818.28B yesterday, per tradingview data.

The top three winners were Avalanche (AVAX), which saw an explosive increase of 28.96% to 16.24 following an 8.25% rise in the previous three days, Ripple (XRP), which saw an above-average increase of 6.90% to 0.375 after rising merely 1.87% in the previous three days, and Cosmos (ATOM), which overtook The Open Network (TONCOIN) in ranking and increased by 5.06% to 11.86 after seeing an 11% ascent in the previous three days.

In related news, Ava Labs, the developer of Avalanche network, has partnered with Amazon Web Services (AWS) to make running a node on Avalanche easier. This is not the first cloud-computing partnership for Ava Labs, as it also announced a partnership with Alibaba Cloud in December 2020.

The top only loser among the top 20 coins is Shiba Inu (SHIB) which fell by 0.20% to 0.00000915. Solana (SOL)’s rise to dominance also slowed significantly at +0.35% to 16.21 after rising a little more than 25% in the previous four days.

The Nasdaq index led the gains among the top three indices in the US with a 1.76% rise. MicroStrategy (NASDAQ:MSTR) rose 2.51% after rising near 25% in the previous three trading days while Coinbase (NASDAQ:COIN) rose 1.30% after seeing 23% gains in the previous two days. Galaxy Digital (OTC:BRPHF) shares fell slightly at -0.80%. 

In related news, Options trading firm Group One took a position that includes the option to buy 1.26 million shares of MicroStrategy which may have boosted the latter’s outlook. Meanwhile, Coinbase has implemented another round of layoffs, affecting 950 employees and reducing its operating expenses by 25%.

Meanwhile, Silvergate (NYSE:SI) fell 1.69% after rising 7.3% the day before. It fell over 47% since Jan. 04 when its preliminary Q4 financials showed $8.1 billion in withdrawals and announced 40% layoffs.

On the other hand, mining stocks were mixed after seeing explosive growth in the previous two days with the exception of Greenridge Energy (NASDAQ:GREE) which continued its ascent at +11.9% after seeing a near 50% gain previously. Marathon Digital (NASDAQ:MARA) fell 6.6% after rising over 45% in the previous three days while Riot Blockchain (NASDAQ:RIOT) fell 4.8% after rising nearly 64% in five consecutive sessions.

🌐 **Top 20 Coins Performance**

**BTC** +3.05% at 17,959; **ETH** +4.35% at 1,392.

**BNB** +3.15% at 285; **XRP** +6.90% at 0.375; **DOGE** +1.60% at 0.0784.

**ADA** +0.85% at 0.323; **MATIC** +4.12% at 0.892; **DOT** +4.65% at 5.14.

**TRX** +3.28% at 0.0566; **SHIB** -0.20% at 0.00000915 **LTC** +3.76% at 83.93.

**SOL** +0.35% at 16.21; **UNI** +2.17% at 5.90; **AVAX** +28.96% at 16.24.

**ATOM** +5.06% at 11.86; **GT** -1.33% at 3.31.

 

## Topic of the Day: Avalanche Network Takes Flight: Ava Labs partners with AWS for Seamless Node Deployment

Ava Labs, the creator of Avalanche network, has joined forces with Amazon Web Services (AWS) to make operating a node on the Avalanche network even more seamless than before. 

The new features included on the partnership are: a one-click node deployment through the AWS marketplace, a subnet deployment service, and GovCloud integration to make decentralized app compliance more seamless. With these new tools developers will be able to spin up nodes and test networks on the fly in whatever legal jurisdiction makes the most sense for them. 

AWS has already been a crucial part of the Avalanche ecosystem, but with this new partnership it's set to become even more impactful, as according to Ava Labs CEO, Emin Gün Sirer. 

This partnership, however, is not the first of its kind, as Ava Labs announced a similar partnership with Alibaba Cloud in December.

### 🌐 Avalanche **(AVAX) $15.93 (+25.82%) - Bullish Outlook 🐂**

**AVAX Overview:**

- ***Closest daily support zone: 15.26 - 14.61***
- ***Closest daily resistance zone: 15.47 - 16.50***
- ***Key Level: 15.26 (Monthly High of Jan. 2021)***
<br>
![](https://gimg2.gateimg.com/image/article/1673490312avax1.png)

AVAX has risen a little more than 16% from Jan. 01 up until yesterday’s explosive rise which brought it a total of 45% gains, but it is still down by 82% YTD. On Jan. 09, AVAX made a breakout attempt, albeit appears weak from a price action perspective, that was able to propel it to form another successful breakout on Jan. 11, by breaking above an extended trendline measured by the close of Aug. 12 and Nov. 05.: [Chart Link](https://www.tradingview.com/chart/AVAXUSDT/TcBqOAiy-AVAX-Daily-Outlook/)

**AVAX Daily Resistance zones**

1. 15.47 - 16.50
2. 17.87 - 18.81
3. 19.52 - 21.37

**AVAX Daily Support zones**

1. 15.26 - 14.61
2. 14.26 - 13.50
3. 12.32 - 11.94
<br>
If you’d like us to cover any specific token or macro data, feel free to reach out to us by dropping a message in [our Reddit community](https://www.reddit.com/r/GateioExchange/).

## Further Reading

**[Daily DeFi Alpha](https://www.gate.io/blog_detail/2017/)** | Daily Newsletter About Volatility, Market Movements, Farming Yield, Crypto Twitter

**[Market Trend](https://www.gate.io/blog_detail/2003/)**｜US Authorities Seize $460 Million In Robinhood Shares, The Indonesian Government Prepares To Launch wheth

**[Brace for Impact](https://www.gate.io/blog_detail/2026/)** | A Guide to Navigating a Cryptocurrency Crash in 2023

**[Gate Charity Launches Non-Profit Organization, Delivers on NFT Fundraising Model](https://www.gate.io/blog_detail/2024/)** | Artwork created by children from a South Korean welfare center sold as NFTs, with profits donated to support the children and give them Christmas gifts.


## Notable headlines

**🔹 Bitvavo shocks crypto world by turning down Digital Currency Group's generous offer to repay a majority of a $297 million loan** from their struggling lending subsidiary, Genesis Global.

**🔹 The decentralized social media protocol, Lens, unveils a revolutionary new feature called "token-gated publications**" allowing creators to restrict access to certain content to members who hold specific tokens in their crypto wallets.

**🔹 Venom Ventures Fund, based in Abu Dhabi, announces a massive $1 billion fund to invest in cutting-edge web3 applications** such as dApps, DeFi, and gaming, amidst a period of turmoil in the crypto industry.

**🔹 FTX makes a shocking revelation, revealing that they have located $5 billion in cash, liquid cryptocurrency, and liquid investment** securities during a bankruptcy hearing in Delaware, which also raises the question of whether the names of the troubled firm's 9 million customers will be made public.

**🔹 Game of Thrones fans go wild as a highly sought-after NFT collection sells out in a matter of hours**, but not everyone who paid for the NFTs received them, leaving some people disappointed. Meanwhile, Crypto Twitter is in stitches over an avatar's comically claw-like hands.

**🔹 El Salvador's Legislative Assembly makes history by approving a law on the issuance of digital assets**, paving the way for the highly anticipated [Bitcoin](https://www.gate.io/trade/BTC_USDT) bonds proposed by President Nayib Bukele.

**🔹 Huobi Global makes a clean break from its South Korean subsidiary, Huobi Korea**, as the latter moves forward with plans to buyout its shares from Huobi Global and rebrand itself.


<div class="blog-details-info">
<div>Author:** Peter L.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.

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Exciting ride ahead as investors are eyeing a potential softening of US inflation and eagerly awaiting Chinese CPI and PPI data.

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Daily News | Ready, Set, Inflation Watch, Meanwhile BTC and ETH Surge as AVAX Takes Flight with AWS Partnership