With weakness in risk assets starting in Bitcoin/Ethereum and now showing up in equities, markets have become a little dicier overnight. With a lot of talk of buying the dip, it is hard to see how the market doesn’t trade lower.
The two most interesting points on this turn are the expected policy responses to provide a put to market which we don’t expect soon (and as terrible as that knee-jerk reaction is) and the timing of an announcement from China this morning, attempting to smother the renewed life out of the USD index, announcing a sale of USD Treasuries.
BTC has fallen further from its perch overnight, last trading a touch over $10k. The big levels in BTC to the downside are $10k and the trend-line at around $9700-9800.
24 hr high: $ 11,471
24 hr low: $ 9985
Ethereum has held up far better than Bitcoin so far, although is now down 25% from its high.
24 hr high: $ 451
24 hr low: $ 371
Digital assets have been crushed overnight, with some moves as large as 30%.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||16.87||-28.55432||36394866||927893320|
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