Bitcoin Price and Trading Report: December 9th - Mine Digital
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Bitcoin Price and Trading Report: December 9th

December 9, 2020 • 
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Bitcoin Price
Cryptocurrencies had a strong selloff overnight with many alts lower by almost 10%. With S&P500 hitting new all time highs we watch to see which market is correct.

Morning Traders,

Tesla sold $5 billion of equity and still hit a new high along with the equity market hitting new all-time highs overnight. Oil stayed high on the move but cryptocurrencies sold off.

We should remember that cryptocurrency led moves in risk in many significant scenario’s in the later half of the year and there is space for that to happen again in this instance.

We haven’t seen a lot of movement so far in December but as we have mentioned some interesting moves can occur once they begin.

Bitcoin

The move lower may lock in a swing high in Bitcoin overnight and we will look for continuation in that momentum in the response in risk assets.

Bitcoin last traded at 18,352

24 hr high: $ 19,299

24 hr low: $ 18,160

Bitcoin USD Chart

Bitcoin Trade

At this point we think that we trade with the market (short) along the obvious technical lines while watching risk assets to see if cryptocurrencies do lead the rest of capital markets.

Ethereum

Eth also looks a bearish asset, in similar circumstances to Bitcoin although more volatile.

24 hr high: $ 595

24 hr low: $ 548

Ethereum USD Chart

Digital Assets

Digital assets were routed overnight with most assets lower by almost 10%.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.81435-9.4098910,599,942.00$85,627,500.00
Algorand$ALGO0.300063-8.70774119,674,024.00$240,977,034.00
Aragon$ANT3.11-8.663816,599,736.00$107,767,512.00
Balancer$BAL12.45-7.4200629,410,581.00$127,628,333.00
Bancor$BNT0.960207-6.4664737,873,036.00$81,682,685.00
Cardano$ADA0.141097-8.17866723,740,760.00$4,389,891,332.00
Chainlink$LINK12.1-7.32622737,970,969.00$4,787,178,363.00
Compound$COMP155.61.47333223,686,030.00$627,737,890.00
Curve Finance$CRV0.613022-12.3387460,308,648.00$100,436,274.00
Dai$DAI1-0.05603150,044,730.00$1,078,066,108.00
Kyber Network$KNC0.89067-6.2580729,291,807.00$178,524,109.00
Loopring$LRC0.1878172.7202152,834,692.00$233,696,035.00
Maker$MKR505.93-2.4091943,825,915.00$458,628,341.00
Meta$MTA1.252.379156,792,961.00$13,075,597.00
mStable USD$mUSD0.994733-0.17842621,676.00$28,188,965.00
Ren$REN0.333602-10.9704436,699,972.00$261,001,301.00
Reserve Rights$RSR0.01913716-11.197336,392,296.00$165,707,829.00
Stellar$XLM0.152708-8.80909422,008,618.00$3,301,435,618.00
Synthetix$SNX4.67-9.9718287,943,174.00$637,267,286.00
Tezos$XTZ2.26-4.87375125,731,772.00$1,614,050,996.00
Universal Market Access$UMA7.29-7.1157612,107,076.00$403,051,421.00
yearn.finance$YFI25660-9.6821429,738,993.00$769,801,744.00

Economic Data

The Chinese inflation data could be interesting today, although the Japanese data this morning has been strong, trading significantly higher.

Japan had been talking about bringing manufacturing back and these significant surprises are quite material.

Whether you want to simply buy and sell or access advanced features, we have the tools you need. Mine’s order-book exchange lets you trade BTC, ETH, XRP, LTC and BCH against AUD, USD and USDT*. Mine Digital, Australia’s best Cryptocurrency Exchange.

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