Macro - Some like it Hot Crypto Summary - Mind the Gap < BTC Triggers & Future Markets Crypto Summary
😱 The fear surrounding Mt. Gox and the German government went unnoticed as Bitcoin tested new local highs last week, exciting crypto investors. Along with this excitement, there was the confirmation of the Ethereum ETF for today, the 23rd. With this, the crypto market enters a new wave of institutional adoption and solidification of its fundamentals, as the global decline in information systems has shown blockchain technology to be antifragile against hacks, poor IT management, and deglobalization.
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BTC and SPX - Revisiting Returns Since June
📈 Throughout June, macroeconomic data pointed to a positive outlook for risk assets, and naturally for cryptocurrencies. As a result, the SPX rose by more than 5%, while BTC saw drops of approximately 20% during the same period. We know that the macro conditions are the same for both the index and Bitcoin, but the reactions during the period were mainly due to the German government's dump and fear surrounding Mt. Gox. Considering that Bitcoin usually has higher returns than the S&P, we imagine that the current 10% gap in returns will close over the next few weeks, indicating an increase in BTC or the opposite for the index.
Does the CME Gap Still Matter? 📉 Yes, the CME gap still weighs on investors' minds this week, starting with a correction from $68.5k to $65.6k, leaving many anxious. What are the triggers for the week? Show Less
