THE EQONEX CRYPTO GUIDE AND LEARN HUB
Daily Bitcoin and Crypto Analysis

Daily Morning‌‌ ‌‌Update—Macro and Crypto Markets—January ‌‌4th

January 4, 2021

It feels a bit silly to talk about traditional markets when the crypto space outperforms by so much. Since the last morning update, on the 30th of December, a lot has happened. Sure, the S&P and the Nasdaq are up, treasuries are up and the dollar is down but all of them by marginal amounts. Maybe gold is the good surprise, back above $1,900 after a number of ‘up’ days.

Bitcoin is leaving all of those behind, though. Over the past few days, BTC breached 28K, 29K, 30K, 31K, 32K, 33K and 34K. To give some context, a month ago, we were still below 20K. To give even more context, from Jan 1st 2020 to Jan 1st 2021, BTC rose 320%.

 

At the time of writing, BTC retraced down slightly from the all-time high ($34,810) and is closing at $33,400. That still leaves us almost 14% above the start of the weekend.

 

While alts haven’t performed as well as BTC during these past months, it was nice to see that ETH along with most of the major cap coins have rebounded somewhat, both in USD terms and BTC terms. ETH is currently closing the day at $980, up 35% since the beginning of the weekend. LINK is up ~15% over the two days, ADA gained 15%, BCH is up 23%, LTC rose 25%, DOT gained as much. 

 

The thing to look at now is the BTC Dominance Index. No prediction to make here but the bout of bullishness on BTC pushed it up to 72, a key resistance level, which seems to have held as we’ve now pulled back down to 70. 

 

This game between BTC and alts really comes down to the strength of the institutional demand (predominantly focused on BTC and maybe ETH), the cycling of money within the crypto space between coins and FOMO fueling retail interest in BTC and maybe newer / more speculative projects.

 

I wish you a great new year and look forward to watching the crypto space grow and -potentially- change the world.


Written by: Justin d'Anethan, Sales Manager

Related Articles

November 18: Daily BTC Analysis

November 18: Daily BTC Analysis

November 19, 2021

Matt Blom

The natural ebb-and-flow of price, has replaced the bullish moves seen through October and early November

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Daily Macro And Crypto Markets Update: Markets Pull Back But On-Chain Indicators Hint At More Upside

Daily Macro And Crypto Markets Update: Markets Pull Back But On-Chain Indicators Hint At More Upside

November 17, 2021

Justin d'Anethan

It looks like crypto isn’t correlated to traditional markets, at least not during this past session.

Daily BTC Analysis: The Weekender

Daily BTC Analysis: The Weekender

November 15, 2021

Matt Blom

One of the big factors contributing to bitcoin’s expansion over gold is that millennials are becoming more knowledgeable of the investing world.

THE EQONEX CRYPTO GUIDE AND LEARN HUB

Bringing digital assets to the world.

EQONEX is a digital assets financial services company focused on delivering a full, digital asset ecosystem that offers innovative, trusted, and transparent products and services.

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

© 2022 EQONEX Capital Pte Ltd
All rights reserved.

IS 749075