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

Morning‌‌ ‌‌Update—Macro and Crypto Markets—January ‌‌5th

January 5, 2021

With rising concerns over the new coronavirus strain and the feeling that vaccines might not arrive soon enough, investors are behaving risk-off. Both the S&P and the Nasdaq were down almost 2%, and treasuries were bought. The dollar, which continues to fall, bounced quickly. Gold rose higher still, now at $1,945.

Prior to these moves, the crypto space fell sharply as well. BTC fell 14% (to the lower 28K’s), only to bounce back up instantly, closing just 4.4% down and above 30K, at $31,650. 

Naturally, a healthy dose of liquidations took place: For example, $190,000,000 (in long positions) worth of Bitcoin were liquidated on Binance within 10 minutes. 

Naturally, alts suffered in response, but it is worth noting that performance prior to the dip was great (in many cases, outperforming BTC), and recouped nicely after the dip. It seems that investors are looking at other projects to either allocate more funds or rotate some of their BTC gains while maintaining crypto exposure. 

To illustrate the shift, ETH crossed $1,000 for the first time since 2018 and traded a record $100 billion across exchanges. The OI for ETH crossed $2.5 billion across exchanges, also for the first time.

Stepping away from market data and toward more fundamental news, institutional money inflow continues to grow. 

Three Arrows (admittedly a large crypto player to begin with) reported an estimated $1.2 billion position in Grayscale GBTC. Bitwise, a Grayscale competitor, rose for the first time to $500 million in AUM. We also saw Scaramucci’s group launch a crypto fund with $310 million in AUM—just to begin with.

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