We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The trio of central banks overseeing the commodity currencies have already cut their main rates to all-time lows. Get your market update from @CVecchioFX here: https://t.co/OSUXrN5P3j https://t.co/3nwDel6e28
  • The tension from March continues to subside, allowing for the $USD to slide to fresh two-month-lows. Get your currencies market update from @JStanleyFX here: https://t.co/bRSRjUqg6Z https://t.co/Q35YpIZEd2
  • López Obrador hopes #USMCA will help tighten trade relationships between the US and Mexico. Get your currencies market update from @HathornSabin here: https://t.co/bZrUKSCGaS https://t.co/MZ7UoiWWRj
  • The $AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/sofO135ElG
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data. Get your ASEAN currencies market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/ZGFaQQ3Hr2
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/73SaL5AeXD
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/EIC9YqfTec
  • Anybody else think that casting directors in movies are some of the most underrated people when it comes to giving a film/series credit?
  • No https://t.co/EoBltaP17k
  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
Cryptocurrencies Slump as Japanese Exchange Halts Withdrawals, Trading

Cryptocurrencies Slump as Japanese Exchange Halts Withdrawals, Trading

2018-01-26 12:30:00
Nick Cawley, Strategist
Share:

Bitcoin/Cryptocurrency News and Talking Points

- One of Japan’s largest exchanges, Coincheck, halted client withdrawals Friday, sending the cryptocurrency market spinning lower.

- Unsubstantiated rumors of a large-scale hack including block moves of Ripple (XRP) and NEM (XEM).

Japanese Exchange Outage Sends Cryptocurrency Prices Sharply Lower

A series of tweets from Japanese exchange Coincheck sent the cryptocurrency market sharply lower, prompting memories of the Mt. Gox attack that hammered the digital coin market four years ago. In February 2014, Mt. Gox filed for bankruptcy after 850,000 Bitcoins went missing, causing client losses of around $450 million.

Cryptocurrencies Slump as Japanese Exchange Halts Withdrawals, Trading

The Coincheck tweets stated that withdrawals had been suspended and that trading in all digital coins, apart from Bitcoin (BTC) had been halted. The exchange suspension remained at the time of writing, weighing on the market. Two coins in particular were mentioned in other tweets surrounding the suspension, Ripple (XRP) and NEM (XEM) with the pair showing losses of 11% and 18% respectively. Rumors circulated that one billion XRP may be at risk as well as USD600 million of XEM.

Cryptocurrency Market Capitalization - January 25, 2018

Cryptocurrencies Slump as Japanese Exchange Halts Withdrawals, Trading

Ripple (XRP) Continues to Fall Towards Important Support Level

We identified Ripple earlier in the week as having further downside action with important support situated around the $0.86 level. XRP was one of the market’s star performers over the last couple of months, rallying from $0.20 to a high of $3.30 before falling away.If Fibonacci support at $0.86 fails to hold, a complete re-trace of the rally back to $0.20 is a very real risk.

Ripple Price Chart Daily Timeframe (October, 2017 – January 25, 2018)

Cryptocurrencies Slump as Japanese Exchange Halts Withdrawals, Trading

Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Ripple or Litecoin, we can offer you a wide range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Practice Account. In addition we run a Weekly Bitcoin Webinar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.