Although markets had traded sideways and slightly higher heading into the end of the week there has been a strong start Monday morning – potentially due to this dramatic spike in M1 money supply (and wherever it has come from)
There is limited info on what is going on with that latest move atm but we will keep an eye out for it.
Bitcoin didn’t do a lot over the weekend but is marginally higher with the S&P500 this morning, last trading at $19,364
24 hr high: $ 19,418
24 hr low: $ 18,869
Our instinct had been that there was a short to bad had in both the S&P500 and BTC in December before trading higher earlier next year. That was based mostly on market structure, as well as December being traditionally quiet, low liquidity and profit taking to be in the direction of lower asset prices.
Whatever is going on in this M1 move could disrupt that easily.
Eth looks more like an asset that is consolidating than Bitcoin
24 hr high: $ 607
24 hr low: $ 583
Digital assets are mixed the last 24 hours with some big swings either way.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||7.99||1.42541||11,647,240.00||$442,042,781.00|
Fairly quiet on the data front today
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