Bitcoin Price and Trading Report: October 14th - Mine Digital
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Bitcoin Price and Trading Report: October 14th

October 14, 2020 • 
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Markets traded for deflation after inflation figures came out last night, with USD bid and gold sold. S&P500 did little (zombie?) and BTC held up well.

Morning Traders,

It was an interesting night in markets with the U.S. dollar index retracing its selloff higher on news of essentially in-line inflation figures for the US.

Although there was indication of inflation in those figures, our Q3 report showed soft commodities trading higher for the quarter and we are keeping an eye on some of the moves in energy this last fortnight.

It takes the USD straight back to the upper-limit of its down-trend so it will not take long to see the direction of the asset.

Other reasons why it might have been a trade rather than reversal is that the S&P500 did not do much. Gold did – but similarly is simply trading at the lower bound of its trading channel.

Bitcoin

Bitcoin was sold with risk and gold, with some decent volume traded. Bears are attempting to turn the asset around at $11,465 as the first stop in trading off the low.

BTC last traded at $11,445

24 hr high: $ 11,666

24 hr low: $ 11,315

BTC/USD Chart

BITCOIN TRADE

The bearish trade is to be short BTC here for a break of the trend-channel and aiming to get back below 11,200.

The bullish trade is to stay long – bidding at trend-lines and support levels.

Ethereum

Eth is doing a similar thing to bitcoin, although has made a good turnaround from being the more bearish of the two assets.

24 hr high: $ 393

24 hr low: $ 374

ETH/USD Chart

Digital Assets

There was selling across digital assets last night.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.5154990.622736,625,526.00$647,653,089.00
Algorand$ALGO0.341731-0.42935158,371,059.00$273,048,350.00
Aragon$ANT3.58-5.4315212,717,035.00$123,953,136.00
Balancer$BAL15.29-1.1021829,428,821.00$125,540,560.00
Bancor$BNT1.31-5.9697376,106,550.00$86,584,942.00
Cardano$ADA0.1094710.02824585,459,576.00$3,405,790,917.00
Chainlink$LINK11.06-3.06777802,223,629.00$4,284,386,813.00
Compound$COMP114.05-2.4247633,299,113.00$378,743,886.00
Curve Finance$CRV0.545593-3.4766124,336,383.00$47,456,423.00
Dai$DAI1.010.0661383,460,576.00$937,694,675.00
Kyber Network$KNC0.990967-1.2353537,874,045.00$196,010,362.00
Loopring$LRC0.190252-5.0098477,442,471.00$226,125,078.00
Maker$MKR581.55-1.3836627,771,346.00$529,962,024.00
Meta$MTA2.64-4.7441418,401,153.00$15,277,857.00
mStable USD$mUSD10.08377954,321.00$40,106,203.00
Ren$REN0.343544-3.08319115,004,095.00$302,515,348.00
Reserve Rights$RSR0.00984292.0013330,664,034.00$92,009,469.00
Stellar$XLM0.076344-1.53273109,394,897.00$1,586,576,309.00
Synthetix$SNX4.53-3.3970440,586,216.00$565,168,865.00
Tezos$XTZ2.392.31808118,355,912.00$1,739,000,942.00
Universal Market Access$UMA9-6.3904119,281,501.00$497,359,276.00
yearn.finance$YFI15724.01-3.87187264,661,955.00$471,381,513.00

Economic Calender

There is a racket of central bankers speaking today (a group of central bankers is called a racket) which will provide direction to markets.

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