Huobi Experiences Net Outflows, Controversial NFT Sales Spark Debate
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 0.13% 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 (should we get them) as ETF news buyers from $25 to $30k get flushed out on fears of a BTC ETF delay and/or Binance DoJ headline risk.
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