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Institutional Buyers May Be Defending Bitcoin from Breaking Below $30,000

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  • Bitcoin has seen a strong rebound today, with bulls defending against a deeper selloff as the crypto neared the lower-$30,000 region overnight
  • Where the entire market heads in the short-term will undoubtedly depend on BTC and its continued reaction to its key near-term support
  • So far, the buying pressure seen between $30,000 and $33,000 has been promising and could indicate that further upside is imminent
  • One on-chain analyst is also noting that this happens to be the price region where tons of institutional buyers had entered earlier this month
  • As such, these groups may be ardently defending against a drop below this level

Bitcoin and the entire crypto market have been facing an intense bout of selling pressure throughout the past several days.

This caused Ethereum to retrace by as much as 40% from its highs at one point, which Bitcoin saw a similar decline as it broke below $40,000 and reeled down towards $30,000.

BTC has yet to break below this key support level, and one analyst believes that institutions may be the ones defending it against seeing further downside.

Bitcoin Gains Momentum as Bulls Spark Trend Reversal 

Overnight, Bitcoin witnessed a sharp inflow of buying pressure that helped alleviate some recent selling pressure.

This allowed the cryptocurrency’s price to rocket up towards $35,000, which is a level that it is now attempting to surmount.

At the time of writing, Bitcoin is trading up just under 2% at its current price of $34,600. The crypto tapped $35,000 a couple of times, but it saw a slight rejection here on each occasion.

If bulls can flip this level into support, it could provide a base that allows BTC to begin expanding back up towards $40,000 in the near-term.

Institutions May Be the Ones Guarding $30,000 

One popular on-chain analyst recently mused the possibility that institutions have been responsible for guarding against a break below $30,000.

In a recent tweet, he explained that $30,000 to $32,000 is where many institutions first began accumulating Bitcoin. As such, they are likely keen on it not seeing a break below this level.

“There are many institutional investors who bought $BTC at the 30-32k level. The Coinbase outflow on Jan 2nd was a three-year high. Speculative guess, but if these guys are behind this bull-run, they’ll protect the 30k level. Even if we have a dip, it wouldn’t go down below 28k.”

Bitcoin

Image Courtesy of Ki Young Ju.

The coming few days should shed some light on where the entire crypto market will trend next, as Bitcoin has had a strong influence over altcoins over the past couple of weeks.

Featured image from Unsplash.
Pricing data from TradingView.

Source: https://bitcoinist.com/institutional-buyers-may-be-defending-bitcoin-from-breaking-below-30000/?utm_source=rss&utm_medium=rss&utm_campaign=institutional-buyers-may-be-defending-bitcoin-from-breaking-below-30000

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Apparel manufacturers reduce chargebacks with thermal printers

Footwear, apparel, consumer electronics, and other consumer goods manufacturers and suppliers can incur tens… Read more »

The post Apparel manufacturers reduce chargebacks with thermal printers appeared first on Logistics Business® Magazine.

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Logistics BusinessApparel manufacturers reduce chargebacks with thermal printers

Footwear, apparel, consumer electronics, and other consumer goods manufacturers and suppliers can incur tens of thousands of dollars in chargebacks per year solely from shipping carton barcodes that do not meet specifications. Strict barcode requirements set forth by the International Standards Organization (ISO) must be met, and accuracy is imperative.

Using TSC thermal industrial printers with integrated barcode inspection systems, manufacturers can scan and grade their barcode labels before they are placed onto shipping cartons, reducing chargebacks and enhancing efficiency. Keep reading to learn more about how our thermal printers deliver these results.

High-Volume DCs, Razor-Thin Margins

Major retailers receive hundreds of pallets every hour in each of their distribution centres from dozens of manufacturers. And these retailers run a business model on razor-thin margins. Processing time must be quick and efficient. If an incoming carton’s barcode label can’t be read quickly and easily, then processing time grows and productivity is hampered.

Retailers can require that all vendors produce barcodes that meet strict ISO barcode standards to ensure swift processing of incoming shipments. Manual processing of barcodes costs retailers a significant amount of time and money. Suppliers with barcode- labels that fail to meet required standards could be hit with chargeback fees and may even have their entire shipment rejected. Consistent failure to meet ISO barcode standards could result in renegotiation or cancellation of a supplier’s contract.

Scanning and grading labels before they are placed onto the shipping carton empowers vendors to quickly and easily test and ensure accurate barcodes. Testing barcodes before shipments leave the facility to retail distribution centres is the most reliable way for apparel manufacturers to avoid hefty chargebacks and other issues that could affect their bottom line.

Consistent barcode testing and quality can be achieved using the Printronix Auto ID T8000 and T6000e ODV-2D barcode inspection printers, which come equipped with scanning solutions inside the printer’s footprint. Because the scanner is integrated with the printer controller, there is no need for an external PC, software, or the creation of a “golden image” of the label to produce accurate, ISO-compliant labels. This means:

  • Simplified verification without the need for external scanners
  • Lower costs since no additional software investment is required
  • Expedited quality using built-in printer scanners that automatically find and grade up to 50 barcodes per label

The integrated scanner grades to ISO standards and verifies that each barcode’s data sent to the printer matches the printed barcode. Reading barcodes from a wide variety of data streams, including PostScript and PDF, the integrated scanner finds, verifies, grades, and reports the details of every barcode on every label through the Printronix Auto ID free, standard device management software PrintNET Enterprise. These reports can be exported for integration or stored in the host system to help defend against chargebacks.

There is no need to define requirements in a software program, change the data stream, or set up and use external attachments. Printronix Auto ID industrial printers can get up and running quickly. These printers automatically overstrike bad labels, reducing costly manual processes while improving quality, reducing the risk of chargebacks for non-compliant labels.

Reduce chargebacks with the Printronix Auto ID T8000 and T6000e industrial printers. Featuring ODV-2D barcode inspection technology, TSC says these printers are loaded with benefits that enhance barcode compliance and quality, all at a competitive price.

Source: https://www.logisticsbusiness.com/packaging-green-logistics/packaging-labelling/apparel-manufacturers-reduce-chargebacks-thermal-printers/

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Alstef Group launches new software suite

Developed by Alstef Group through knowledge and experience gained over 40 years of intralogistics… Read more »

The post Alstef Group launches new software suite appeared first on Logistics Business® Magazine.

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Logistics BusinessAlstef Group launches new software suite

Developed by Alstef Group through knowledge and experience gained over 40 years of intralogistics management and controls, OPAL is an innovative, unified software suite, which ensures the overall control of automated storage, AGV fleets, order picking, and the associated flows for all logistics solutions offered by the group.

OPAL manages the business challenges of a logistics installation, by providing speed, precision, and traceability while reducing preparation times. Efficient and agile, this suite adapts to the specificities of the distribution channels and ensures optimized management in real-time of each activity.

With its broad connectivity, OPAL interfaces with all information systems on the market, in order to provide a global intralogistics vision. The software suite has also been designed to meet quality and cyber security requirements. “It was important for us to offer a robust and functionally rich solution that was also highly secure and complied with ANSSI recommendations,” explains Yang ZHAO, Industrial IT Director at Alstef Group.

Depending on the customer’s application, all or part of the native functions are activated and configured to meet the needs of the installation.

A modular approach around a main WCS

In addition to native functions which optimize all the movements of the handling equipment while working within rules and constraints of the business, several complementary modules enrich this software offer.

Three modules are available to support operations: OPAL Overview provides a visualization of installations; OPAL Notify offers real-time notification of events, and; OPAL Analytics provides customisable operational dashboards (KPIs). Finally, OPAL benefits from a process monitoring module with OPAL IT Monitoring, a tool for tracking incidents and IT resolution.

“With OPAL, Alstef Group writes a new page in its history and confirms its commitment to its customers,” says Uwe Klärner, Sales Director Intralogistics, Alstef Group. “Opal is the reflection of our will to develop innovative and agile solutions, adapted to the operational needs of our customers.”

Source: https://www.logisticsbusiness.com/it-in-logistics/alstef-group-launches-new-software-suite/

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Strengths and flaws in the EU’s new IOSS

Beleaguered British retailers are braced for yet more changes to how they sell goods… Read more »

The post Strengths and flaws in the EU’s new IOSS appeared first on Logistics Business® Magazine.

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Logistics BusinessStrengths and flaws in the EU’s new IOSS

Beleaguered British retailers are braced for yet more changes to how they sell goods to the EU. From 1st July 2021, a new EU Import One-Stop Shop (IOSS) scheme means British-based e-commerce companies only need to register and pay VAT in one EU country to sell goods not exceeding £135/€150 across the entire EU. The new IOSS regulations certainly make retailers’ lives easier, but they aren’t entirely good news, says the international delivery expert ParcelHero.

ParcelHero’s Head of Consumer Research, David Jinks M.I.L.T., says: “On the face of it, the new IOSS scheme helps return things to their pre-Brexit norm. However, in the case of the IOSS, the devil really is in the detail. We’re revealing five reasons GB traders should welcome the new scheme and five reasons the IOSS might make selling to EU customers even more complicated and expensive.”

Five reasons to welcome the new IOSS

1 IOSS greatly simplifies VAT procedures by allowing non-EU online sellers (remember that includes sellers based in Great Britain post-Brexit) to register for VAT in one EU member state, collect VAT from all their EU sales and report on a single monthly IOSS VAT return. No more multiple VAT filings in multiple countries.

2 Life is greatly simplified for sellers using online marketplaces. These become the ‘supplier’ when cross border B2C sales are made on them by third-party sellers. VAT liability (collecting and reporting) for sales in EU countries will fall on the marketplace rather than the merchant, providing the consignment is valued at less than £135 (€150). Our top tip is that businesses using only online marketplaces may now be able to end any existing EU VAT registrations, as they will no longer be responsible for collecting and reporting VAT.

3 Retailers’ EU-based customers won’t be facing any more unexpected VAT payments on purchases of goods sold in Britain, which will build back trust in buying from GB sellers.

4 Northern Ireland-based companies may enjoy an exemption threshold. NI firms can join the alternative intra-EU OSS scheme. Providing their sales to the EU don’t exceed £8,818/€10,000 per annum, NI-based organisations will only need to follow domestic VAT rules.

5 The IOSS scheme is voluntary and will speed up sellers’ EU shipments by creating a fast-track Customs clearance ‘green channel’ for consignments not exceeding £135/€150.

Five flaws in the new IOSS

1 The changes remove the previous VAT exemptions for SMEs on EU shipments worth £19/€22 or under. That means about 26,000 UK e-commerce sellers will have to register for VAT for the first time or stop selling to the EU.

2 The EU estimates it will cost around £6,900 per company each year for British sellers (that excludes Northern Ireland companies) to register and comply with IOSS regulations as a ‘non-Union’ user.

3 Unlike EU-based OSS users, IOSS users based in Great Britain don’t qualify for the new £8,818/€10,000 threshold before they have to pay EU VAT, rather than follow domestic rules. Only Northern Ireland sellers (under the terms of the Northern Ireland Protocol) have this option.

4 The new IOSS only applies to deliveries of items valued under the £135/€150 threshold. For all goods over that amount, GB businesses will have three choices: ensure their customer pays the import VAT at Customs; offer the option of delivering with all duties paid (DDP) or hold stock somewhere in the EU and register for VAT there.

5 Confusion still exists around registration. The gov.uk website states: ‘…it is not expected that the UK IOSS registration portal will be available for use for the 1 July 2021 launch’. There is also uncertainty about whether GB companies signing up for IOSS in an EU country must appoint an intermediary agent to register and file returns. Together with the French and German governments, ParcelHero believes this requirement does not apply to British sellers, as the UK-EU trade deal includes a tax and VAT mutual assistance agreement. The Republic of Ireland is a favourite option for GB companies because it uses English in business but, just to complicate matters, it recently stated it doesn’t yet recognise the agreement. Consequently, it will require the use of an intermediary agent.

ParcelHero’s in-depth analysis of the ongoing UK-EU trade problems and, in particular, the powder keg Northern Ireland Protocol agreement can be seen at: https://www.parcelhero.com/research/brexit-study

Source: https://www.logisticsbusiness.com/transport-distribution/freight-forwarding-3pl-4pl/strengths-flaws-eus-new-ioss/

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