The Powell speech turned out to be underwhelming for markets in the end, with no specific actions taken as a fundamentally new reality. However it does shore up, and pad out the current course.
With equity markets making significant new highs in the US, the chances of a reversal increase. We might already be seeing the shift in digital assets, which had been the canary in the coal mine more than a few times this year.
Bitcoin has done very little but slide lower, but has lacked volatility in general.
Bitcoin last traded at $11,281
24 hr high: $ 11,600
24 hr low: $ 11,120
Bitcoin USD Chart
Eth has essentially made the same move as bitcoin overnight, trading now at $380.
24 hr high: $ 397
24 hr low: $ 387
Ethereum USD Chart
There is broad carnage in digital assets overnight. Where the assets had bounced back strongly in the past, there has been less interval between selloff periods recently. The state of the equity market may also be worth considering.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||8.38||21.09838||6345643||451147460|
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