Market Watch – 19 September 2020


BTC 24 Hr High $11,179
BTC 24 Hr Low $10,899
BTC     + 0.06%

Traditional markets: 

  • Slight decline. The major U.S. stock indexes fell for the third week in a row, retreating again from the record highs that the S&P 500 and the NASDAQ achieved early this month. The latest week’s decline was much smaller than the previous week’s pullback.
  • Near-zero rate outlook. The U.S. Federal Reserve kept interest rates unchanged and signalled that it expects to keep its benchmark rate near zero for at least three more years. All 17 Fed officials who made projections said they expect to keep rates near zero at least through next year, and 13 projected rates would stay there through 2023.
  • Oil recovery. After two weeks of declines, U.S. crude oil prices recovered ground, climbing back to around $41 per barrel. Much of the week’s gain came on Wednesday, after the government reported that U.S. crude oil supplies fell to the lowest level in five months. 
  • Europe. Investors focused on negotiations over the EU’s proposed 750 billion-euro ($840 billion) program to help economies rebound from lockdowns, which helped send the Stoxx 600 Index up 0.6%.
  • Asia. Nikkei 225 ended the day flat, in the green 0.18% as concerns about company earnings in the face of the coronavirus pandemic prompted investor caution.

Bitcoin has lost its market momentum. Meanwhile, the amount of cryptocurrency locked in decentralized exchange Uniswap was nearly doubled on Friday.

  • Bitcoin (BTC) trading around $10,867 as of 20:00 UTC (4 p.m. ET). Slipping 0.42% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $10,812-$11,039
  • BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.

Bitcoin was only able to eclipse the $11,000 level briefly Friday before dropping to as low as $10,812 on spot exchanges such as Coinbase. 

Markets are looking weak on drying-up liquidity on exchanges while BTC hardly managed to reach back above the $11,000 level and couldn’t sustain it,” said Jean Baptiste Pavageau, partner at trading firm ExoAlpha. 

Indeed, major USD/BTC exchange volumes are looking feeble, with Friday tallying a $211 million total so far while daily averages the past month have been $364 million. 

Rupert Douglas, head of institutional sales at crypto brokerage Koine, is concerned stock markets are in for a correction, potentially hurting crypto as investors look to unload risky assets. 

“I think equities are headed lower and if that happens digital assets will get sucked down, too,” Douglas told CoinDesk. “The tech shares are too frothy,” he added

Philip Tam

Co-founder & CEO

Sources/Reference

Kraken, OSL, coindesk, Deribit, CoinMarketCap, Coincodex, Binance

John Hancock Investment, Bloomberg

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BTC 24 小時平均價: $11,179BTC 24 小時最低價: $10,899BTC: + 0.06% 亞洲市埸情況回顧 ➲ 從XMR和DOT社群中出來的賣家支撐了大部份山寨幣的資金交易, 大部份交易的交易額為正常規模。除此之外 , 在沒有特別泡沫的情況下,BTC仍是最好的投資目標。 ➲ 與上週相類似, 本週買入與賣出比例為79-21.隨著每週的交易的結束,從市埸參與度分析,本週買方與賣方的交易數量跌至一個月以來的低點。 歐洲市埸情況回顧 ➲ 由賣方主導的 BTC 二級市埸平價流動,反映出市埸廣泛的沉寞和缺乏鼓舞類信息.因為買方需求跌至2週以來的新低,賣方以接近 3:1多於買方人數。 ➲ 本週交易量環比下降 65% ,本週85%的交易是由賣方賣出產生。 美洲市埸情況回顧 ➲

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