A Question of Peaking - Mine Digital
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A Question of Peaking

July 13, 2020 • 
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The S&P500 made a double-top overnight as Tesla trades upto $1800 before turning around. We are watching to see if digital assets keep their correlation to traditional market risk.

Morning Traders,

The US equity Indices made a major double-top overnight, rejecting the previous high and trading lower in one of the larger moves we have seen recently.

We should be watching for follow-through on the move, especially in the context of pushing retail traders out of the market that have accumulated positions in the one-way price moves.

Bitcoin

Bitcoin traded lower with equities overnight. Correlation with equities is high at the moment, but with interest in technology recently we will watch for the affect on digital assets.

Bitcoin last traded at $ 9,233

24 hr high: $ 9,350

24 hr low: $ 9,190

Bitcoin USD Chart

Ethereum

Ethereum traded with Bitcoin overnight, trading back and forth through its major down-trend.

24 hr high: $ 245.46

24 hr low: $ 237.25

Ethereum USD Chart

Digital Assets

Synthetix and Ren were the bigger losers in digital assets overnight with most other assets in line.

  • Aave: $ 0.214
  • Algorand: $ 0.2638
  • Cardano: $ 0.1222
  • Chainlink: $ 7.04
  • Compound: $ 165.52
  • Maker: $ 448.65
  • Ren: $ 0.176
  • Reserve Rights: $ 0.0086
  • Stellar: $ 0.0891
  • Synthetix: $ 2.56
  • Tezos: $ 2.84
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