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Business

Market Trajectories Hinge on Decision – Economics Bitcoin News

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Equities, precious metals, and cryptocurrencies have been on a tear during the last three weeks of 2023, and all eyes are now focused on the next Federal Open Market Committee (FOMC) meeting, which is 11 days away. On Friday, Federal Reserve governor Christopher Waller said that he favors a quarter-point benchmark rate increase at the next FOMC meeting. Analysts believe that current market trajectories will be dependent on the outcome of the next Fed meeting.

Markets Still on Edge Ahead of Fed Meeting Despite Equities, Cryptocurrencies, and Precious Metals Rallying in 2023

On Saturday, Jan. 21, 2023, at 2:45 p.m. Eastern Time, the global cryptocurrency market capitalization was up 5.87% over the previous day and hovering around $1.06 trillion in value. The leading crypto asset, bitcoin (BTC), had climbed 11.63% higher against the U.S. dollar in the past seven days. The second-leading digital currency in terms of market valuation, ethereum (ETH), had risen 8.33% that week against the greenback. The increase in value of these two crypto assets has also increased the U.S. dollar value of the thousands of digital currencies below BTC and ETH.

BTC/USD on Jan. 21, 2023, at 4:24 p.m. ET. By 4:24 p.m. on Saturday, the global crypto market cap was down to $1.05 trillion, according to market data, with BTC trading at $23,133 per coin.

The day prior, on Friday, Jan. 20, equity markets closed the day in the green. The top four benchmark stocks (S&P 500, Dow Jones, Nasdaq, and Russell 2000) ended the day between 1% and 2.66% higher against the U.S. dollar. The Nasdaq Composite was the highest, rising 2.66%, the S&P 500 rose by 1.89%, the Russell 2000 index (RUT) jumped 1.69% higher, and the Dow increased by 1% on Friday. U.S. equities have posted their second consecutive week of gains so far this year. The small-cap stock market index RUT has risen 7.1% this year, with small-cap shares leading the equities race in 2023.

Closing percentage rises of the top four benchmark indexes on Friday, Jan. 20, 2023.

Precious metals have done well too with a troy ounce of gold trading for $1,927.30 per unit and silver trading for $24.01 per ounce. Like cryptocurrencies and stocks, precious metals have rallied in 2023, erasing the losses that took place in Dec. 2022. Gold enthusiast Peter Schiff believes the price of the precious yellow metal will grow higher this year. “Gold is now trading above $1,934, its highest price since April of 2022,” Schiff tweeted on Jan. 19. “Gold stocks, however, still haven’t even taken out last week’s high. In fact, gold stocks need to rise 30% from here just to get back to where they were trading in April of 2022. This sale may not last long,” he added.

New York Spot Price for gold, silver, platinum, palladium, and rhodium as of Friday, Jan. 20, 2023.

Speaking with Kitco News, OANDA senior market analyst Edward Moya detailed that gold prices will remain indifferent until the Federal Reserve’s February 2023 meeting. “It’s going to be choppy,” Moya said. “I’m neutral on gold until the Fed’s meeting on February 1. Major resistance is at $2,000. But I would be surprised if we move above $1,950. We’re likely to consolidate here until the Fed meeting,” the market analyst added. Market analysts and macroeconomic experts have no idea what the Fed will do at the FOMC meeting. Some believe an aggressive tightening schedule will continue, while others expect the Fed to ease up and pivot with a ‘soft landing.’

The Biden administration and White House economist Heather Boushey told Reuters that current leaders do not expect a recession. “The steps have been taken and it looks like we’re in a very good position to have that soft landing that everyone’s talking about,” Boushey insisted. On Friday, Federal Reserve Governor Christopher Waller told reporters at a Council on Foreign Relations conference in New York that he favors a smaller rate hike than the previous seven. So far, the Fed has implemented seven rate hikes in 2022, two of which were half-point rises and five were three-quarter-point increases. Waller can envision a quarter-point increase at the next FOMC meeting next month.

“I currently favor a 25-basis point increase at the FOMC’s next meeting at the end of this month,” Waller told the press. “Beyond that, we still have a considerable way to go toward our 2 percent inflation goal, and I expect to support continued tightening of monetary policy,” the Fed governor added.

It’s quite likely that all three major markets (precious metals, cryptocurrencies, and stocks) will react in some way or another after the Fed’s next decision. Many believe the next FOMC meeting decision will be entirely dependent on inflation gauges. U.S. President Joe Biden has been tweeting about the U.S. economy during the course of the weekend as he believes the country is on the road to recovery. “Annual inflation has fallen for six straight months and gas is down $1.70 from its peak,” Biden tweeted on Saturday morning at 10:25 a.m. Eastern Time. “We’re successfully moving from economic recovery to stable growth,” Biden added.

Tags in this story
benchmark rate increase, Bitcoin, BTC, Christopher Waller, Council on Foreign Relations, Cryptocurrencies, cryptocurrency market capitalization, dow jones, economic recovery, economics, Economy, Edward Moya, equities, equity markets, ETH, Ethereum, Federal Open Market Committee (FOMC), Federal Reserve, Global Economy, gold, gold price, Heather Boushey, inflation, Joe Biden, Kitco News, market trajectories, nasdaq, next Fed meeting, OANDA, Peter Schiff, Precious Metals, Russell 2000, S&P 500, silver, Silver Price, small-cap shares, stable growth, Stocks rally, U.S., U.S. dollar, US economy

What do you think the outcome of the next FOMC meeting will be and how do you believe it will affect the current market trajectories for equities, precious metals, and cryptocurrencies? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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Technology

Google Pixel Fold case model shows off hinge and bezel

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After many false starts, the Google Pixel Fold finally seems to be on its way, and now a case model of the device gives us some further insight into what the physical hardware, hinge, and inner display will bring to the table.

YouTuber Dave2D obtained what appears to be a case model of the Google Pixel Fold, which he claims to be “dimensionally accurate” to the actual device Google has in the works. While this model is void of any actual smartphone hardware, the design and shape do line up with previous leaks.

The case model here shows a device that is remarkably thin at 5.7mm, 0.6mm thinner than the Galaxy Z Fold 4 when it is unfolded. We also get a good look at the device in hand when it is closed, confirming that the screen will be wider than Samsung’s Fold devices, as we showed in some previous mock-ups based on dimensions.

Related: Google’s Pixel Fold is going to be a bigger Oppo Find N2 – Should it?

A better look at the inside of the device also strongly suggests that Google’s device will have somewhat thick bezels, at least by modern standards, on the inner display. This allows the phone to have a camera that is not embedded in the display using a cutout or underdisplay technology. The bezels were measured at around 5-6mm. A mock-up of what the device looks like with those supposed bezels can be seen below.

The video also gives a look at the hinge, seemingly confirming that Google’s foldable won’t have a gap like Samsung’s devices do today, instead closing flush. This implies that Google will be using a “waterdrop” style hinge, similar to the Oppo Find N2, wherein the display recedes into the hinge slightly when the phone is closed up. Samsung is rumored to be moving to a similar design on the Galaxy Z Fold 5 to help lessen the visible display crease.

Dave2D says he has been told that the Pixel Fold will have a hinge similar to the Oppo Find N series.

The video goes on to point out that the speakers are positioned at the top left and bottom right of the two sides, which might lead to better stereo sound in either orientation. Samsung’s foldables position speakers at the top and bottom of the left side of the device (when unfolded), while Oppo positions its speakers at the bottom of both halves.

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Technology

Hobbyist adds a hinge to the Game Boy Pocket, delighting everyone

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Enlarge / This custom-built Game Boy Pocket SP can fold in half like a feisty clam.

Earlier this month, a programmer and hobbyist named Allison Parrish debuted a compact hack of the 1996 Nintendo Game Boy Pocket handheld game console. Taking inspiration from the later Game Boy Advance SP, she fabricated a custom plastic shell with a hinge so the older monochrome Game Boy can fold shut. She calls it the Game Boy Pocket SP.

In Parrish’s extensive write-up of the mod, she explains that her hack began as something of a joke. The Game Boy modding community is popular right now, and one currently trending mod involves transplanting the circuitry of a folding Game Boy Advance SP (from 2003) into a non-folding custom shell. So she thought, “If y’all can take the hinge out of an SP, why can’t I add a hinge to a Game Boy that never had one?”

Parrish, who is an assistant arts professor at NYU, built her complex folding mod over the summer using tools at her university department’s ITP/IMA shop and the NYU Makerspace. Its unique clamshell design comes courtesy of a Game Boy Pocket motherboard she cut in half, along with custom-design flex PCBs (printed circuit boards) that route signals between the two folding halves. To pull it all together, Parrish designed a 3D-printed plastic shell using FreeCAD.

An exploded CAD view of the Game Boy Pocket SP’s custom shell, designed by Allison Parrish.

Additional parts, such as the backlit screen, label, buttons, and rechargeable battery, came from hobbyist shops.

The finished product is compact, backlit, rechargeable via USB, and it plays original monochrome Game Boy games. Cartridges plug in just behind the screen, like in the original Game Boy Pocket. After announcing a rough prototype of the mod in September, the Game Boy Pocket SP won first place in the “Technical” category in r/gameboy’s modding contest on Reddit.

Currently, the Game Boy Pocket SP remains a one-of-a-kind device because of the intense effort involved in making it. “The research and development process was also very expensive,” Parrish writes. “In addition to the costs of materials and manufacturing, there’s also the cost of my own labor.”

Still, if you’d like to attempt to replicate her feat, Parrish has provided PCB and shell design files on GitHub and an almost step-by-step write-up of the build process on her website.

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Entertainment

Who is ‘West Elm Caleb’ and why do people care about him?

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Oh, what a tangled World Wide Web we weave.

The story of “West Elm Caleb,” a serial ghoster on the Hinge dating app, is as mystifying as the act itself.

It all began on TikTok, under the hashtag #WestElmCaleb, which currently boasts 30 million views on the video-sharing platform. There, the legend of New York City’s most eligible f – – kboy, West Elm Caleb, was spun: He is a 25-year-old mustachioed furniture designer named Caleb with a nasty habit of aggressively wooing his dates before disappearing from their radars.

The woman credited with instigating the conversation says that she’s never met the storied West Elm Caleb, but her own disappointing date with another Caleb prompted an onslaught of commiseration from other women in NYC. “West Elm Caleb?” several asked in the comments, all hoping to compare notes on their West Elm Caleb. The furniture company, for its part, has not responded to The Post’s request for comment on their alleged employee.

Read on to find out how Hinge’s hottest specter took over social media.

The saga of West Elm Caleb, a serial ghoster on the Hinge dating app, has taken over TikTok.
Courtesy of @meemshou

What is a “West Elm Caleb”?

Caleb has become somewhat of a mascot for the dreadful realities of online dating. If you’ve ever been single in this day and age, you know a West Elm Caleb. He’s the one who never texted back after a seemingly amazing first date, leaving no explanation as to why he wouldn’t follow up after going out of his way to charm.

At its most extreme, experts call it “love-bombing” — when a date showers you with compliments, gifts and affection in a twisted bid to gain immediate trust, only to later disappear.

For all of its conveniences, online dating has made it easier for pathological daters to occupy themselves. According to Julie Krafchick, co-host of the podcast “Dateable” with Yue Xu, dating apps provide an “anonymity that allows people to do things” they wouldn’t do otherwise. “If your aunt sets you up with someone, you’re not going to ghost that person,” she told NBC News in an interview about West Elm Caleb. “But a rando on Tinder? Why not? There’s no one that’s going to catch you.”

Indeed, the culture of rapid swiping for dates and algorithmic compatibility has facilitated the internet dating pool’s more egregious womanizers.

Several girls all over social media have experienced similar dating issues involving a West Elm Caleb.
Courtesy of @meemshou

Is West Elm Caleb real?

He’s no urban myth. The man dubbed unaffectionately “West Elm Caleb” is one Caleb Hunter, 25, according to internet sleuths, as well as some of those alleging to be his victims.

The woman who initially went viral, TikTok’s @meemshou, inadvertently launched the hunt for West Elm Caleb when she shared her own experience with a crappy Caleb — who turned out to be a different guy from the one that has captivated dozens of women IRL, and millions on social media.

In a clip published last week, she explained that her initial viral video was created “to make a joke about this very tall Caleb” she briefly courted in NYC, which pulled in 546,000 views — “but I kept having girls comment being like ‘is this West Elm Caleb?’ ”

“I was so confused,” she told followers. “But then I get a DM from a Caleb who says he’s also very tall, and I click on his bio, and it says ‘West Elm furniture designer.’ ”

After countless women came forward to cross-reference details about the roving Romeo, it’s since been revealed that the prime suspect is a one Mr. Caleb Hunter. An alleged screenshot of his Hinge profile, depicting a young man with a cropped beard and the tell-tale mustache, and a tagline that described him as a “designer at West Elm.”

There are many versions of a West Elm Caleb — a man who sends you an excessive amount of love notes and then disappears without any explanation.
Courtesy of @meemshou

What did West Elm Caleb do?

This dating dweeb apparently has sent at least one unsolicited nude photo to a date, ghosted women, and sent his Spotify playlist to more than one gal, telling each that he made it just for them.

He seemingly also dated several ladies at once and fibbed about how much he uses Hinge.

But his main offense has been bombarding women with love messages on Hinge and then suddenly peacing out and leaving them hanging.

Where is West Elm Caleb now?

The dude has been gone like the wind and hasn’t been spotted since his antics went viral. He has cleaned his social media accounts across various platforms and hasn’t commented on anyone’s videos.

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