We saw the downtrend hold in the S&P500 the last 24 hours but gold has staged a strong move from its lows. We’ll be watching hints of that downtrend being a temporary feature in the S&P500 with one of the more promising trades being a short-squeeze.
The U.S. dollar index is trading back below 94.
BTC has not climbed higher with gold so far although the two assets have enjoyed a growing correlation the last couple of months.
This is likely to be the institutional interest that we have heard about – the asset will start behaving the way it is treated and in this case, treated as gold, behaving as gold.
BTC last traded at $10,776
24 hr high: $ 10,796
24 hr low: $ 10,627
Eth has also been consolidating the last 24 hours but is starting to climb since early this morning. If there is a squeeze in risk assets higher the sentiment could show up first in Ethereum – digital assets have been leading risk again recently.
Eth last traded at $358
24 hr high: $ 359
24 hr low: $ 350
Ethereum USD Chart
There were mixed results in digital assets again overnight with Yearn being one of the significant losers.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||9.37||-7.88301||22,575,071.00||$516,611,903.00|
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