Huobi Experiences Net Outflows, Controversial NFT Sales Spark Debate
Aug 7, 2023
Market Update Traditional markets rebound after posting a loss last week as investors look to Thursday's CPI print for clues as to whether the Fed will continue to raise rates. $SPX and $QQQ are trading at 0.6% and 0.2% higher than Friday's close, while earnings reports are set to roll in for the worst quarter since 2020. Digital asset markets seem to be breaking correlation from traditional markets, with $BTC (-0.9%) breaking down from its $29k range and $ETH (-0.7%) trading at $1.81k. Should we decisively break below this range, we believe $21 to $24k to be compelling buying opportunities