Crypto recovers

Bitcoin, Ethereum, other major coins, altcoins, major altcoins, lesser-known altcoins, privacy coins, wrapped coins, DeFi governance tokens, even Ravencoin – yeah, if it's a cryptocurrency and there is a spot market for it, it climbed higher as of Thursday.

Global investors flicked a risk-on switch following the United States top central banker's telegraphed pledge to not raise rates any time soon and to do just a touch of "tapering" in terms of money printing press throughput.

BTC was flirting with $44,000. ETH climbed back above $3,000. XRP is almost $1. Among Top 20 coins, two gained 20%+ over 24 hours, those being Cosmos (ATOM) and Terra (LUNA).

Everything is rising, and nothing is falling, except fears related to a giant Chinese real estate developer's debt crisis.

The closely watched U.S. 10-year Treasury yield fell a few basis points to 1.307 on Wednesday in volatile trading as the Federal Reserve revealed, semi-coyly but fairly obviously, its intentions to curtail its liquidity pumping plans, with many investors now expecting rates, anchored near zero, to go higher, possibly in 2022.

Falling rates, as seen before and after the Fed news, usually signal economic worries.

And yet here was the Fed expressly telling the markets that the economy, relative to the depths of the pandemic, is doing well and that progress is expected to continue, and that if it does "a moderation in the pace of asset purchases may soon be warranted.”

Global economic forecasts: slower growth but higher inflation.

The Bank of England on Thursday downgraded economic growth projections and kept monetary policy unchanged.

However, Norway’s central bank, Norges Bank, unanimously decided to raise rates to 0.25% from zero. Among Western central banks, Norway's is the first to hike rates, recognizing a normalizing economy.

Taking the telegraphed tapering in their stride, as opposed to throwing a tantrum, U.S. stocks rallied yesterday and futures were ticking up early Thursday. As was the 10-year yield.

Material Scientist has come up with a thesis regarding the existence of a strong correlation between BTC price and Chinese debt cycles.

Looking back, the analytics wizard shows that previous cycle tops in Bitcoin have coincided with tops in Chinese debt cycles.

Bubbles and debt cycles definitely do tend to go together (Cointelegraph).

A conspicuous Bitcoin wallet is on the move. The unknown address just moved more than $29.47 million worth of BTC to another unknown address.

Whale Alert spotted it. Cries of “is that you, Satoshi?” rose up on Twitter.

That wallet has been dormant for nearly nine years.