Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also an equity/fixed income portfolio manager and does not invest in digital assets.Crypto traders are still in risk-off mode after experiencing almost nine consecutive weeks of negative returns.
The cryptocurrency is still down by 40% so far this year, compared with a 13% drop in the S&P 500 and a 22% dip in the Nasdaq 100 over the same period. So far, it has been a tough year for all speculative assets.newsletter explaining what happens in crypto markets – and why.There’s been massive short selling over the last few weeks, which may presage a short squeeze in the weeks ahead.
The short-term rise in stocks could be a tailwind for crypto, assuming the high correlation between both assets remains intact. In contrast, perhaps the decline in cryptos signals limited upside in stocks as risk-off sentiment prevails.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
I want to believe that in June the situation will be very different. I'm spending my last usdt reserves to buy right now
It will deep more
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: ETH Selloff Intensifies Heading Into the Weekend – Market Updates Bitcoin NewsETH was trading lower for a third straight session on Friday, as prices neared an 11-month low. BTC rebounded following yesterday's drop. Letreyum Metavisa : Web 3.0 Credit Scoring Protocol By analyzing blockchain data, MetaVisa Protocol helps users to establish on-chain identity & credit records. DeFi NFTs GameFi DAO DApps cryptocurrency metaverse metavisa mesa Keep calm, ETH is queen of blockchain...
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin Dominance at 7-Month High as Altcoins Bleed Out (Market Watch)Bitcoin's dominance over the altcoins have increased to its lowest position since October, as most alts are deep in the red today.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
3 reasons why Bitcoin is regaining its crypto market dominanceIs Bitcoin down almost 60% from its ATH? Yes. Is it still asserting its dominance in the market? Also yes. Here’s why. Do you think that the Wall St maybe after Crypto after gains in 2021? It's one of the biggest things that reduces the stock market capital.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Biggest Movers: AVAX and ATOM Over 10% Lower on Thursday – Market Updates Bitcoin NewsAVAX was one of the biggest movers in crypto markets on Thursday, as prices fell by over 10%, hitting a two-week low in the process.
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin Options Market Underscores Traders' AnxietyBitcoin options market shows that market sentiment remains extremely bearish, with Bitcoin trading below the $30,000 level
Source: Utoday_en - 🏆 295. / 63 Read more »
China Electric Car Market — 29% Market Share In April!BYD achieves record month in Covid-disrupted market Plugin vehicles continue to be all the rage in the Chinese auto market. Despite the overall market being completely disrupted by Covid lockdowns (-43% year over year), plugins Still nowhere near as good as Norway. When are we going to see 50% sales in the top five economies in the world?
Source: cleantechnica - 🏆 565. / 51 Read more »