EQUOS — Morning Update — December 8th

The upward momentum we’ve seen recently seems to have slowed down somewhat, both in crypto and traditional assets.

With Trump’s new sanctions on members of the Chinese administration, Chinese comments about retaliation on the US’s “wrongful behavior,” and a global increase in number of COVID cases (regardless of vaccine news), investors are finding it hard to continue buying risk assets.

The S&P dropped from its all-time high, while the Nasdaq managed to push through further. Treasuries are trading muted. Gold is one of the outliers here, with a strong 1.25% candle taking us above $1,865. The pound also gained thanks to the reopening of negotiations between the UK and the EU.

In the crypto space, BTC is closing slightly down at $19,175, still within the lower band of the upward channel, started early October. We haven’t seen any new attempts at taking the 20K’s, but some will point out that this lack of momentum is simply consolidation for another run up.

Alts are looking somewhat more alive, although not outperforming — just more volatile. ETH closed slightly in the red, currently above $590. LINK followed on down, at around $13. LTC, ADA, DOT, and XTZ mirrored the move down. XMR stood out with a 3.75% gain on the session.

On a more fundamental note: While not reflective in price action, there’s still positive news coming through.

The G7 nations spoke about digital payments yesterday and reiterated that they are a regulatory focus. Naturally, at Diginex and EQUOS, we see t his as a positive and a driver for acceptance and adoption with larger allocators of capital.

It was also great to hear Borse Stuttgart (Germany’s second largest stock exchange) comment on their ‘Bison’ crypto trading app and the €1 billion of trading volume this year.

Lastly, we heard that MicroStrategy is planning to allocate even more capital to Bitcoin. They’re clearly not messing around!

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Passionate about financial markets, long-term investments, the occasional short-term trade and disruptive technologies.

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Justin d’Anethan

Justin d’Anethan

Passionate about financial markets, long-term investments, the occasional short-term trade and disruptive technologies.

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