Crypto markets: It’s been a pretty interesting week, when there was a hack of Nomad worth $200 million, WazirX was investigated by Indian authorities, Michael Saylor stepped down as CEO, 140 billion worth of stablecoin re-entered the markets, and the U.S. Senate issued aproposal to make the CFTC crypto main watchdog. In spite of all…
Crypto markets: Cryptocurrencies have appreciated mightily over the past week in the context of a broader recovery of the risk asset market. Bitcoin has climbed back above $24k, there has been an across the board appreciation across digital currencies. In general, since the beginning of the year, virtual coins have moved in tandem with traditional…
Fundamentals and expected events: week 30 Crypto markets: Positive sentiment in the cryptocurrency market plunged after Tesla sold 75% of its reserves held in Bitcoin, equivalent to about $936 million. The major cryptocurrency has fallen below $23,000 and Ethereum below $1,500. Minecraft developers Mojang Studios banned NFT token integrations in their wildly popular game. The…
Fundamentals and expected events: week 29 Crypto markets: Cryptocurrencies added slightly again even as risk sentiment returned to global markets. The total market capitalization of cryptocurrencies has once again risen above $1 trillion. Bitcoin is looking to reverse weakness against Ethereum and increase its dominance over other altcoins. Historically, Bitcoin has only fallen below its moving…
Fundamentals and expected events: week 28 Crypto markets:Bitcoin broke below the psychological threshold of 20 000 USD again. Bitcoin’s downward trend has taken smaller cryptocurrencies with it. Ethereum is now approaching the $1,000 level. The declines are due to weak sentiment in the stock markets. The drop in investor sentiment is due to negative perceptions…
Fundamentals and expected events: week 27 Crypto markets:Bitcoin briefly dipped below the $19,000 mark during last week. The correlation with equity markets and risk assets is more than obvious. Bitcoin has already lost over 55% this year and is down 70% from its all-time high last year. The latest wave of sell-offs means a reduction…
Fundamentals and expected events: week 26 Crypto markets:After bottoming at $17,500 last Sunday, an 18-month low, the primary cryptocurrency began its recovery on Monday and quickly reclaimed the coveted $20,000 line. It dipped below a few times in the next couple of days but stood north of it for longer periods. Similar to Bitcoin, most…
Fundamentals and expected events: week 25 Crypto markets: The previous week was a very bad one for the cryptocurrency markets, as the digital asset market was hit by a wave of major sell-offs. Bitcoin lost over 30% in a single weekend, dropping as low as below $20,000 over the weekend. Altcoins were mostly even worse…
News in brief Stocks in the United States mostly fell ahead of the expected rise in US interest rates, with only technology titles managing to recover from losses. The U.S. central bank’s monetary policy committee is expected to announce an interest rate hike at the end of its two-day meeting on Wednesday. Initial estimates were…
Fundamentals and expected events: week 24 Crypto markets: On Friday, the US inflation report (a record 8.6% year-on-year increase) kicked off the decline of Bitcoin, which first dropped from $30,000 to $29,000 in a matter of hours. What happened (and is still happening) in the next few days, however, is considerably steeper. Bitcoin’s freefall intensified…
