Friday Fudgery
#Cryptocurrency Market / #Bitcoin Market analysis 9/16
I'm using the words lightly there, but I hope it's quite clear. As it's a quadruple witching friday, I watched trades basically evaporate. It was kind of a mess.
#Cryptocurrency Market / #Bitcoin Market analysis 9/16
I'm using the words lightly there, but I hope it's quite clear. As it's a quadruple witching friday, I watched trades basically evaporate. It was kind of a mess.
$SPY went up and down all day, thus $BTC as well. tradingview.com/x/Jt1R0JzH/ Notice distinctly how the $BTC responses are slower, because that's what I want to call attention to.
Remember when I talked about billions in liquidity exiting the market faster than sand falls through someone's hand? This is the result. There's nobody trading crypto and so the prices can't really move.
In the past this was notable on exchanges like #kucoin and @krakenfx , where you would see this sort of lag and then magically things move. But now, it's getting worse. A *lot* worse.
Normally this doesn't matter, because people yolo crypto positions and forget about them until later. But now, with bear market, it'll sustain the bear market even further. Meanwhile, has anything else changed? tradingview.com/x/2quQ4Gmb/
Nope. Just as #bearish as ever, if not maybe more considering how the month looks so far. With a rate hike on the horizon, more pain is going to come to investment traders, and I expect 100bps or even above. finance.yahoo.com/news/75-bp-rat…
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