Watch as the EQONEX CEO discusses a full range of crypto issues, including DEFI, government regulation, and NFTs.
If you think the bearishness is only in crypto, have a look at traditional markets.
While the previous session had a clear, risk-on tilt, yesterday traded with a clear, risk-off feel. With developments on the Covid delta variant front and the fear of a more real impact on the economy, equity indexes in the US, Europe and Asia pulled back from elevated levels. Historically speaking, we’re still at very good levels, but, on the session, it felt a bit like a cold shower.
We’re in a clear risk-on market. Investors are happy to buy equities and sell bonds.
With disappointing new job numbers in the US (250,000 actual instead of the predicted 750,000 increase), investors turned fearful of the impact of the delta covid variant and sold risk assets.
During the Weekend, Ripple filed a motion to compel the Securities and Exchange Commission to reveal the internal cryptocurrency trading regulations for its employees. This is the latest in a long legal battle between the two. In December 2020, the SEC took legal action against Ripple, claiming XRP was a $1.3-billion unregistered securities offering.
If you haven’t dipped a toe into crypto yet, you may be asking yourself if it’s too late to get involved. The answer, of course, is no.
Bitcoin has rallied 2% today, but has outperformed the wider market once again. It was Bitcoin's rally at the end of July that sparked the resurgence of interest in the wider crypto market. The stall in prices since the one print above $50,000 has now seen the Bitcoin dominance indicator drop to its lowest level since May 19th, the day when Bitcoin crashed 14%.
While investors await jobs data on Thursday in the US, most American equity indexes traded flat. But, to be fair, they are all close to or at all-time highs.
Looking at American equity indexes, it’s been almost a year without a real correction.
Bitcoin has fallen 2% today, after a weekend trading session in which the market really couldn't decide if it wanted to move higher or lower. There is no impetus driving the market and we are nestled nicely at the top end of the range, with dips supported and rallies sold. Having spent 11 days around these levels, we look for a break out to set the tone for the next leg, with $46,000 and $50,000 the key areas to watch.
Watch two industry heavyweights, Anthony Scaramucci and Peter Schiff, debate which asset - Bitcoin or Gold - represents the best store of value, as part of the EQONEX Intelligence Squared Crypto debates.
Equity indexes continued to rise yesterday. Investors are still bullish risk assets despite concerns about having reached an economic growth peak, geopolitical risks, or the Fed hinting at tapering. And, as it did yesterday, with capital flowing to equities, the dollar and yields fell.
Looking back on last Friday’s trading in traditional markets, one can see a clear risk-on session.
During the weekend, the Monero Project officially launched its Atomic Swap implementation program. The program was developed by the cross-blockchain protocol COMIT Network and provides a new trustless way to exchange between Monero (XMR) and Bitcoin (BTC). Following the launch, Monero, the largest privacy-focused cryptocurrency by market capitalization, surged 20%.
The S&P 500 marched on to record highs yesterday, touching 4,500 for the first time.
Bitcoin has traded slightly lower today, registering a drop of 2%. The 200d moving average at $45,961 is sitting just below the upward trend line at $46,500. This would be the area we would expect buying interest to prevent further declines. Should we not reach that far before returning to $50,000, then we can assume the rally is back on.
Is the Bitcoin energy debate just another hurdle put in place by legacy institutions to inhibit mainstream adoption?
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