Markets Settle Overnight, Bitcoin Bid - Mine Digital
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Markets Settle Overnight, Bitcoin Bid

September 8, 2020 • 
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Some stability has returned to markets overnight, with a slight bid in the S&P500 and a potential reversal in bitcoin. The U.S. dollar threatens to go bid.

Morning Traders,

After a reasonable pullback the last week, the S&P500 has trended higher since the European session of trading overnight. The VIX retraced a little over the same time but it is the dollar index that should be watched over the next 24-48 hours to see whether it breaks higher (implying more risk sold) or returns back to lows and business as usual (bid risk assets).

Bitcoin

Bitcoin turned around this morning and is trading higher after failing to get through the 9900 level and staging 6 failed attempts to trade below $10k.

Bitcoin last traded at $10,375

24 hr high: $ 10,415

24 hr low: $ 9,880

BTC/USD Chart

Ethereum

Although it had been Ethereum that looked stronger than Bitcoin only a week ago and for some time before that, Bitcoin is the better looking asset today, with Eth making a weaker low, looking capable of fading lower again.

24 hr high: $ 359

24 hr low: $ 323

ETH/USD Chart

Digital Assets

There has been mixed results overnight, in spite of bitcoins potential comeback and a slight bid in risk assets.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.587574-0.311078160211738248184
Algorand$ALGO0.370091-0.21935190078985297068759
Aragon$ANT4.48-5.6327736364303155115526
Balancer$BAL21.422.1452642969853161181902
Bancor$BNT1.11-5.826925943172972744584
Cardano$ADA0.0936810.970863143191552913384267
Chainlink$LINK12.53-1.6313513963796274819328978
Compound$COMP179.74.8707296380557595483723
Curve Finance$CRV2.1-2.602338001951077610545
Dai$DAI1.031.01092183684824438956312
Kyber Network$KNC1.25-3.2770569531775246701810
Loopring$LRC0.176792-3.294644301501210118850
Maker$MKR530.61-1.8909264239844477270571
Meta$MTA4.17-6.29202671254519460069
mStable USD$mUSD10.37389172893523039942
Ren$REN0.3007470.6596754308297265003826
Reserve Rights$RSR0.01657176-8.4346849612771113480161
Stellar$XLM0.078731.498331489544081622762072
Synthetix$SNX4.62-6.492966126791546167400
Tezos$XTZ2.54-0.783881904678891838099497
Universal Market Access$UMA14.7-8.7650938486894805052776
yearn.finance$YFI22923-3.51489254817175687043732

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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