'A Market Waiting for a Catalyst:' Crypto Daybook Americas

Market Overview - Bitcoin (BTC) rebounded to nearly $90,000, reversing a previous drop and trading largely unchanged over 24 hours, consistent with slight gains in S&P 500 and Nasdaq futures [1] - The broader market, including CoinDesk 20 (CD20) and CoinDesk 80 (CD80) indexes, showed little change, with RAIN token being a notable winner, adding over 6% [1] Market Sentiment and Catalysts - Market sentiment is currently fearful, as indicated by the Crypto Fear & Greed Index, which has flipped the pain trade higher [3] - The market is awaiting several catalysts this week, including U.S. retail sales, jobs data, inflation reports, and multiple Federal Reserve speakers, which could influence interest rate expectations [2] - Any upside surprise in economic data could reinforce a 'hawkish cut' narrative, while softer data might reopen opportunities for risk assets [3] Volatility and Technical Indicators - The MOVE index indicates renewed bullishness or increased turbulence in the bond market, suggesting that market swoons often accompany heightened volatility [4] - Technical indicators for Nasdaq suggest an end to the recovery rally from November, while BTC's options market shows a bias for puts across multiple timeframes [4] Bitcoin Network and Regulatory News - BTC's hash rate fell by 8% to 1,200 EH/s, attributed to the closure of mining farms in Xinjiang, China [5] - The U.S. Securities and Exchange Commission released a wallet and custody investor guide, highlighting risks associated with different custody models and best practices for investors [5] Traditional Markets - In traditional markets, gold extended its gains, while some analysts caution that the downside for the Dollar Index appears limited [6]