$BTC 24 Hour High $7,491 $BTC 24 Hour Low $7,081 $BTC 4.5%
Traditional markets opened up strong and trended towards posting a second consecutive day of gains, but lost most of those gains after the news of Gilead’s experimental COVID-19 drug failed - exhibiting how fickle investors’ confidence can be in the current situation. Surprisingly, VIX relatively unchanged at the same level 41.38, most likely propped up by hopes on a new stimulus package. On the other hand, the digital assets market dominated.
Digital assets market:
$BTC surged 4.6%, topped at 7,775 before correcting to 7,500 levels with a traded range of $140 between 7,470 and 7,610, $BTC dominance improves by 0.7% to 64.1%
~70m short positions liquidated across the major futures platforms during the move up
Most action flowing on the $BTC side as the other large cap altcoins with the exception of $XLM and $ADA overshadowed by $BTC’s uptick of +300.
Desk seeing an increased amount of buy side $BTC flow from individuals and sell flow from large funds.
Door on $USDT appears to have closed at the moment, affecting payment provider flow to drop to around 40% of its potential capacity.
$XLM +11.6% @ 0.061, up 31% over the past 7 days
$ADA +10.5% @ 0.04, up 25.5% over the past 7 days
DOW +0.17% @ 23,515
S&P -0.05% @ 2,797
NASDAQ -0.25% @ 8,641
News that caught our eye:
Argentina’s $BTC demand is increasing as the country faces its 9th sovereign default, failing to make a $503m payment, more freelancers in the country have been requesting digital assets to settle transactions.
Sony Launches Blockchain-based Mobility as a Service (MaaS) solution for trains, buses, taxis, car sharing, with the goal of providing users with accurate information on the best routes to their desired destinations