Happy Chinese New Year!!
# BTC Low $44,222.82 # BTC High $48,050.97 # BTC +6.58% on the day
Support: $45,550, Resistance: $49,400. Funding is 0.087% average. $399.3M in liquidations in the BTC market the past 24H.
ETH +3.13% on the day. Support: $1,750, Resistance: $1,840. Funding is 0.151% average. $61.2M in liquidations in the ETH market the past 24H.
What the market is seeing: Electronic - Very active market on BTC, buy/sell volume ratio at 1.32 to 1, looks like the FOMO from yesterday’s buyers paid them nicely. ETH very indecisive too, at 1.12 to 1 ratio.
Average buy/sell entries for
Volumes up 23% since yesterday.
OTC - Asia is celebrating Chinese New Year. Chinese New Year didn’t stop Asian funds from bidding Bitcoin during the run-up, while Asian brokers were on the sell side for BTC on this spike. US still having fun arbitraging thanks to apt market conditions, while funds are waiting on more upside after timely BTC purchases. Canada buying at these levels (high 47,000s). LATAM activity picking up again, starting the day strong with remittance and BTC trading. Volumes up 30% vs yesterday.
#ALTS - Selling continues, trading shows most aren’t happy holding high beta coins when BTC is in control - they might drop more than usual and not recover as well as BTC, for example.
This is how OLD Money is looking:
SPX +14.75pts, NDAQ +74pts, Nikkei +57pts, HSI +134.8pts, Gold +5pts, Silver +0.2pts, Copper +1.16%
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