Risk Trimmed Overnight - Mine Digital
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Risk Trimmed Overnight

July 16, 2020 • 
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With some strange price action emerging in the S&P500, risk has been trimmed overnight after the Chinese stock market took a serious hit.

Morning Traders,

Risk trades were weak overnight after a 4.5% decline in the Chinese equity index. Other equity markets were soft with Bitcoin and digital assets weaker.

Bitcoin

Weakness in Bitcoin led the risk-off trade overnight.

Bitcoin last traded at $ 9,132

24 hr high: $ 9,229

24 hr low: $ 9,026

Bitcoin USD Chart

Despite the weakness, Bitcoin is still trading in the pocket here with the potential for an imminent move.

Ethereum

Ethereum legged back under its major long-term down-trend overnight, and is expected to be more volatile than Bitcoin when the two assets move.

24 hr high: $ 239

24 hr low: $ 229

Ethereum USD Chart

Digital Assets

Algorand, Aave, Stellar and Reserve Rights outperformed overnight. Algorand had been lagging the market until now.

  • Aave: $ 0.269
  • Algorand: $ 0.344
  • Cardano: $ 0.126
  • Chainlink: $ 8.41
  • Compound: $ 155.08
  • Maker: $ 444.04
  • Ren: $ 0.1626
  • Reserve Rights: $ 0.0097
  • Stellar: $ 0.1025
  • Synthetix: $ 3.09
  • Tezos: $ 3.10
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