🟢 The cryptocurrency market grew by 1.9%. “Bloody Monday” liquidated more than $1 billion in long positions. The aftermath was one of the worst periods in terms of the scale of the collapse. “Weak hands” were knocked out of the market, and whales were actively buying up the drawdown. Altcoins have also recovered slightly, and oscillators are near the oversold zone. Next week will show which way the market will move in the next month. Average daily trading volumes have stabilized in the upper range, at around $100 billion. On the 5th and 6th, they were generally around $200 billion. The last time such values were in April. BTC has been sideways for 6 months, so we expect sharp movements in the middle to end of this quarter.
🟢 The stock market is now in the green zone. The S&P 500, after falling by more than 3.5%, managed to close the week up 0.5%. The Nasdaq was up by 1.5%. Households were actively buying the slump at a record pace. The earnings season is coming to an end, with results worse than the previous quarter. High rates are increasingly hitting businesses. Sales from Japan are almost over, and tensions in the Middle East are cooling. The current correction in the markets still feels “healthy” – it is too early to talk about a recession. Next week (if the news is quiet), growth is expected to be in the range of 1.5% to 2.5%.
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