Markets slowed down a bit sideways but risk still looked bullish into the close. Weekend markets show an S&P500 trading marginally higher.
There is a risk of a sell-the-fact early in the week as Biden announces victory in the U.S. presidential election in a decision that is being received well internationally. The Trump team will still pursue allegations of fraudulent voting but it is not stopping team blue from making and announcing their preparations.
BTC traded both ways over the weekend, dipping briefly and recovering strongly. It looks like a pure stop-out of over-leveraged and profit-taking longs. Traders may be scarred by the extended periods of consolidation earlier in the year and the more hesitant trade is to stay on the long – although we are likely to see more squeezing both ways from here.
BTC last traded at $15,539
24 hr high: $ 15,664
24 hr low: $ 14,726
Bitcoin USD Chart
The big question in Ethereum at the moment is in if it can outperform Bitcoin with its 2.0 implementation beginning in December (although expected to last several years).
ETHBTC staged a reversal move this week and it will be upto traders to decide on if this move is a true reversal. If it is it would see Ethereum catapulted much higher in this bullish market.
Here is ETHBTC on the lucky 3 hr chart
24 hr high: $ 461
24 hr low: $ 433
Ethereum USD Chart
Digital Assets have outperformed the last 24 hours, with a strong reversal move in DeFi.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||7.17||3.64085||12,903,347.00||$397,626,810.00|
With the U.S. election still the biggest event with the potential to move markets, there could be a sell the fact type move on Bidens declaration of victory as well as potential market responses to Biden policy announcements.
The coronavirus is a big one in this respect.
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