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Week 06 – Overview of fundamentals and markets

institutional investors, week 06

Welcome to our weekly brief. Here you will find what is going on on the markets and what are expected events in week 06. It should help you with jumping back on track. 

Fundamentals and expected events: week 06

  • Cryptocurrencies: Bitcoin attacks a new ATH after information leaked to the public that Elon Musk’s Tesla  bought bitcoins for US $ 1.5 billion. The current price of Bitcoin is strengthening sharply and is now at around  USD 43,000. Other altcoins are also growing, almost the entire crypto market is now in green. In addition, Musk and other celebrities once again pushed DOGE meme coin to new highs, now it is in the top 10 cryptocurrencies.
  • Stock and commodity markets: Tesla’s announcement is also great news for gold investors. The electric car manufacturer said it had updated its investment policy to allow not only investment in digital assets, but also in gold bars and exchange traded funds (ETFs). It can therefore be expected that the prices of gold metal will also go up.
    Global stock markets also mostly grew, with Asian stock indices approaching record highs. US stock indices are heading for higher openings and record highs when the New York daily session begins. Hopes for a slowdown of the coronavirus pandemic due to continued vaccination and expectations of President Biden’s $ 1.9 trillion rescue package add to optimism. US Treasury Secretary Janet Yellen said on Sunday that the US economy could reach full employment by 2022 if Congress adopts the proposed stimulus package.
  • Important events: The US Fed and the British Central Bank are expected to announce results of their meetinga again, and the Chinese New Year will begin in Asia at the end of the week, leading to a fall in cryptocurrency prices in the past. Now, some analysts are beginning to say that even this event will not have a significant effect on the cryptocurrency prices.

Cryptomarkets and marketcap: week 06

The total crypto market volume over the last 24 hours is $201.25B, which represents an increase by almost 25%. The total volume in DeFi is currently $15.92B, 7.91% of the total crypto market as per 24-hour volume. The volume of all stable coins is now $158.25B, which is 78.63% of the total crypto market as per 24-hour volume.

Bitcoin’s price is currently at $43,465.19.

Bitcoin’s dominance is currently 62.67%, an increase of 1.34% over the day.

Market sentiment is at 83 points, meaning extreme greed and an increase from last weeks 77 points.

BTC/USD

Bitcoin price on Monday is $43 301,28 USD with a 24-hour trading volume of $89 022 109 757 USD. Bitcoin added +13% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $806 406 461 410 USD. It has a circulating supply of 18 623 156 BTC coins and a max. supply of 21 000 000 BTC coins. (coinmarketcap.com)

Bitcoin reached a new ATH values on Monday. For the first time in history, we see a price of $ 43,000. On the BTC / USD chart, we follow the Cup and Handle pattern.

Graphical user interface, chart, histogram

ETH/USD

Ethereum price on Monday is $1 703,06 USD with a 24-hour trading volume of $47 416 394 583 USD. Ethereum added +7,8% in the last 24 hours. The current CoinMarketCap ranking is #2, with a market cap of $195 148 291 926 USD. It has a circulating supply of 114 587 100 ETH coins and the max. supply is not available. (coinmarketcap.com)

Ethereum has so far already exceeded last week’s values of 1 700 USD. We see a closed bullish channel and investors’ efforts to grow to resistance line at $ 2,000. The growth of ETH is also conditioned by the growth of BTC.

Graphical user interface, chart, histogram

ADA/USD

Cardano price on Monday is $0,688629 USD with a 24-hour trading volume of $9 994 953 531 USD. Cardano is pumping by +9% in the last 24 hours. The current CoinMarketCap ranking is #4, with a market cap of $21 424 954 884 USD. It has a circulating supply of 31 112 484 646 ADA coins and a max. supply of 45 000 000 000 ADA coins.

Over the last 7 days, Cardano has nearly doubled its price. Just over the weekend, the coin rallied by around 50%. The digital asset has gained more than 90% in 7 days and with that climbed above the pecking order. The rise in rank has been marked by its successful flip of Ripple’s XRP. It has also successfully climbed above Polkadot and now sits in fourth place.

Graphical user interface, chart, histogram

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