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Thursday, August 18, 2022

Crypto Liquidity & The Lifecycle Of Ponzi Schemes

Authored by Tom Luongo via Gold, Goats, 'n Guns blog,With the Federal Reserve set to begin raising rates in a few weeks I thought it time to dive back into a discussion of crypto now that the ‘easy money’ era post-COVID is over.I know many still don’t believe the Fed can stop QE, no less…

Crypto Bank Silvergate’s Acquisition Of Diem Assets A “Significant Positive”, Analysts Say

One of our favorite stocks, crypto friendly bank Silvergate, has officially acquired the Diem stablecoin assets that once belonged to Facebook. And despite the appearance that it could have marked the end of Diem's road of progress, the move could actually be just the opposite: a net positive for the stablecoin, CoinDesk wrote this week, citing Wedbush.Wedbush…

The Crypto Trading Cycle: Asian Weak Hands Selling To US Whales

It has been a rather testing time for the latest and newest cohort of crypto owners (especially those expecting quick and easy gains), because aside for major breakout at the start of the year, and a second one in the middle of 2021, bitcoin is where it was in February and ether, is at levels…

Crypto, Gold, & The Dollar Rally As Stock-Shorts Puke To 13-Year-Lows

While the bond market was on holiday today, in memory of Veterans Day, we note that short-term rate-futures markets continued to adjust hawkishly, with 2.5 rate-hikes now priced-in by the end of 2022...Source: BloombergWhile cash Treasury trading was closed, futures implied around a 2-3bps rise in yields for 30Y...Source: BloombergAnd 4-5bps higher in the 10Y…

Gold & Crypto Jump As Dollar Dumps After FedSpeak-Fest

From the European open, US futures accelerated higher after a quiet start, but once the initial chaos of the US cash open was over, stocks faded back to unchanged (or very modest gains). Nasdaq Composite closed higher but Nasdaq 100 ended lower - ending its win-streak at 10 days...One thing of note today was the…

Crypto & Stocks Hit Record Highs Ahead Of Fed Taper Talk

After yesterday's ridiculous surge in Small Caps relative to Nasdaq, today saw some of that reverse as Nasdaq led the gains with a massive de-rotation trade at the cash open...Today's biggest winner was the Trannies which exploded over 14% at its best today thanks to the idiotic surge in Avis...Russell 2000 finally hit a new…

Crypto Breaks Above Key Technicals, Extends Friday’s Surge

After Friday's surge in cryptos lifted the entire space green for the week (following an ugly start to the week), Saturday saw markets flatline, but early after trading today (Sunday) has seen a renewed bid across all assets.Bitcoin just topped $49,000...Source:BloombergThis moves comes just over a week after China 'banned' crypto (for the 25th time)…

Crypto Crashes As SEC/OCC Warn Of ‘Reckoning’, Question “Long-Term Viability” Of Private Forms Of...

Crypto was hit by a double whammy from The SEC and OCC today...Like a wolf in sheep's clothing, SEC chief Gary Gensler led many crypto industry types to believe that he would be "a friend" to the nascent industry, largely because he once taught a class on the subject at MIT.Instead, using the logic that…

Crypto, Gold, Oil, & Stocks Soar On Dismal Data As Dollar Dumps

EU consumer sentiment tumbled this morning (mirroring US' sentiment collapse) and US PMIs both plunged to multi-month lows... that's great news right? US economic surprise data plunged to -45.5 - as bad as it was in March 2020 - and global economic surprise data has been tumbling for weeks and just went negative...Source: Bloomberg'Bad news…

Crypto Rips, Dollar Dips, & Stocks Hit Record Highs As Americans’ Confidence Collapses

If the stock market is a "forward-looking" mechanism, then the future it sees is very, very different from the 'expectations' that the average American has about what's looming...Source: BloombergPut another way...On the week, The Dow outperformed (which has been relatively unusual) with Nasdaq breaking even and Small Caps tumbling. Notice that every day the cash…

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