Risk assets recovered overnight after an aggressive sell-off from all-time highs. Due to the fed put, the move now is probably to sell volatility until the end of time.
We have expected this situation, and we have expected gold – as a store of value – to rally instead of risk assets selling.
Of course bitcoin should also catch a bit in this outcome (risk return + gold held up), which has been lagging risk, gold AND cryptocurrencies at its current levels. It really seems like the asset should be doing something, either trading much higher or slinking back into its range $7000-$9000- but it has recently struggled to make a definitive move in a direction.
BTC last traded at 10223
24 hr high: $ 9,981
24 hr low: $ 10,353
After looking like the weaker token the last couple of days, Ethereum made a stronger move than the rest of the space recently, last trading at $352
24 hr high: $ 359
24 hr low: $ 330
USDC transactions are increasing at a very rapid pace after being transacted on the Algorand network. Algo is up 20% overnight.
Many digital assets have recovered well overnight.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||16.23||4.61247||38,880,533.00||$888,238,108.00|
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